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Get Your Mortgage Loan Originator License in 2020!

 

 

New Jersey Education Bundle

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Starting at: $399 Now Only $279!

Use Promo Code: NJPE279

 

 

Add New Jersey Elective

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Now Only $79.98!

Use Promo Code: NJPE69

 

 

 

With a New Jersey mortgage license, the doors to a long and fruitful career are opened up to you. Loan officers have many options available, and a career as a mortgage loan officer can be lucrative, flexible, and rewarding. The career path to become a Mortgage loan officer starts by getting your NMLS License. With Mortgage Educators you’ll get industry-leading materials to prepare you for a long and fruitful career.

 

How to Get Your MLO License in New Jersey

 

1. Fulfill all state and federal education requirements as designated by your state agency. (16+4 Hr NJ)

 

2. Schedule, study for and pass your national mortgage exam.

 

3. Apply for the MLO License: Complete and submit your MU4 through the NMLS including, paying the licensing fee, completing a criminal background check and an authorized credit report.

 

 

New Jersey Mortgage Education Licensing Requirements

To become licensed as a mortgage loan officer in the state of New Jersey, you must complete 20 hours of national mortgage education courses. While some other states require additional hours of mortgage education, New Jersey does not have any additional requirements. Upon completing the 20 hours of national education requirements, you will need to pass the NMLS national exam to receive your NMLS License in New Jersey.

 

New license mortgage education, sometimes referred to as “pre-license education”, can be completed in one of three ways. Mortgage education courses can be completed in an Online-Instructor Led (OIL) format, in a live classroom setting, or via a live webinar. Most new loan officers elect to complete their education requirements through an online course bundle, like those shown above. However, Mortgage Educators also offers live webinars, and some live classes to best satisfy your needs. As you complete your hours of mortgage education requirements, Mortgage Educators will report all hours to the NMLS.

 

Mortgage Broker vs. Mortgage Loan Officer: What's the Difference?

Mortgage broker licenses are commonly confused with the more common loan officer license. While the terms mortgage broker, loan officer, and mortgage loan originator are similar, they aren’t synonymous. So what’s the difference?

 

Generally speaking, a mortgage broker is a company that employs mortgage loan officers. The loan officers are employed by the broker to originate loans for home-buyers when they are looking for a loan for their mortgage.

 

PE Expiration Policy in New Jersey

PE Expiration is a policy that was created by the NMLS Policy Committee that addresses situations in which an individual is required to retake 20 hours of pre-licensure education if they fail to acquire a valid mortgage license within three years from the last date of licensure as a mortgage loan originator. New Jersey is currently in pending enactment for the PE Expiration policy which means the policy is currently not enforced, but it will be rolled out soon.

 

 

Additional Questions?

Mortgage Educators and Compliance is here to answer any additional questions that you may have in regards to your New Jersey mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.

 

 

 

 

New Jersey Mortgage Education Pre-Licensing