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How to Get Your (MLO) Mortgage License in New Jersey

After obtaining your mortgage license you will be able to begin your career as a loan officer in New Jersey. To secure your license, you must first pass the NMLS exam and meet the mortgage education requirements by taking New Jersey mortgage licensing classes. At Mortgage Educators, we aim to provide comprehensive materials that will adequately prepare you to become fully licensed. If you aren’t familiar with the mortgage originators field and want to know how to get started, the course bundle shown below is the first step towards getting licensed. Order your mortgage education course bundle today, or call us for additional information at (877) 403-1428. Below are the steps on how to obtain your mortgage license in New Jersey:

 

1. Create an NMLS account and ID number (If you haven’t yet).
Start the process of getting your New Jersey mortgage loan originator license by applying for an NMLS account and ID number. Head to the NMLS website and click Log in to NMLS. Next, press Request an Account. Select an individual account, and then wait for a confirmation message with your username and ID.

 

2. Complete NMLS pre-license education (must complete a 20-hour SAFE pre-licensure education course).
Next, you need to complete your pre-license education. All states require the 20-hour SAFE pre-licensure education course. New Jersey includes 16 hours of online instruction and a 4-hour New Jersey state law and rules course.

 

3. Take the NMLS New Jersey mortgage licensing exam.
The next step in your mortgage loan originator training in NJ is to make an appointment for the National Test Component exam. This test consists of 125 questions, which you’ll need to complete in 190 minutes or less. Go to your NMLS account to register for the exam. Get more details on taking the NMLS exam here.

 

4. Apply for your mortgage loan originator license in New Jersey.
Once you pass the NMLS mortgage exam you can apply for your mortgage loan originator license in New Jersey. To do so, follow these steps:

 

  • Log into NMLS.

 

  • Click the filing tab at the top of the screen.

 

  • Select the individual option.

 

  • Choose Request/New Update. Click Continue.

 

  • Click to Add.

 

  • Choose your New Jersey license and press Next.

 

  • Select the New Jersey Mortgage Loan Originator License option. Click Next.

 

  • Make sure the information is accurate and click Next.

 

  • Review the last page. Press Finish.

 

5. Get a background check and pay fees (all fees are displayed below).
Finalize the application process by paying several non-refundable fees, which include: processing fees, a credit report fee, background check fee, and application fee. Learn more about the background check and fingerprinting process here.

 

6. Link your NMLS account with your employer.
Now you need to link your NMLS account with your employer, which shows you have employee sponsorship of your license. Once you are hired you can submit your sponsorship on your NMLS account. Learn the steps to associate your NMLS account with your employer here.

 

20-Hour Course Bundle For Your NMLS License in New Jersey

This course bundle provides new loan officers with their NMLS license in New Jersey.

Now For Only $399 $279

Use Coupon Code: NJPE279

NJ 20 4 BUNDLE

  

4 Hour Laws & Rules New Jersey Mortgage License Course

Already licensed in another state? Get licensed in New Jersey today!

Now For Only: $79.98 

Use Coupon Code: NJPE69

NJ 4 HR

 

 

Why You Should Get Your New Jersey Mortgage License

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.

 

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. Click here for detailed New Jersey MLO education requirements.

 

For further information about ordering your New Jersey mortgage licensing classes, call (801) 676-2520.

 

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.

 

Cost of Getting your License in New Jersey

When you’re ready to get your NMLS license in New Jersey, be prepared to pay the following fees:

 

  • Total License Cost: $180
  • Processing Fee: $30
  • Credit Report: $15
  • Background Check: $36.25

 

Do I Need A New Jersey Mortgage Broker License or Loan Officer License?

Many individuals who are just entering the Jersey mortgage loan industry are under the impression that they need to obtain their New Jersey mortgage broker license. However, this isn’t the only option available and most people instead get their mortgage loan officer license. So, what’s the difference, and which should you get?

The terms “mortgage broker”, “loan originator” and “loan officer” are similar, but not synonymously. Essentially, loan officers are employed by a mortgage broker. As a loan officer, it will be your responsibility to provide new home buyers with a mortgage loan. If this sounds like your ideal future career, order the New Jersey mortgage education course bundle shown above!

 

Additional Questions?

We are excited to help you with every aspect of your mortgage education. For help determining which product is best for you, or for further information, please call us or send us an email today!

 

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