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Pennsylvania Mortgage Loan Officer License Education

Obtaining your Pennsylvania mortgage license and becoming a loan officer is very simple, but it’s not for everyone. It takes hard work and a willingness to learn the basic ins and outs of the industry. Mortgage loan origination is a great industry to work in, and it provides many opportunities and flexibility. If you like to work hard, build lasting relationships with people, and have a desire to learn, becoming a mortgage loan officer in Pennsylvania is the perfect choice for you!

 

How to Get Your (MLO) Mortgage License in Pennsylvania

1. Set up your NMLS account and ID number.
Start the process of getting your Pennsylvania mortgage loan originator license by applying for an NMLS account and ID number. Go to the NMLS website to get started, press the Log in to NMLS button, then press the Request an Account button. Choose an individual account, and then check the confirmation message to get your username and ID. 

2. Complete your NMLS pre-license education.
With your NMLS account created, you can move on to complete your Pennsylvania mortgage license class. Pennsylvania requires a 20-hour SAFE pre-licensure education course, including 17 hours of an online instructor-led course, and 3 hours of a Pennsylvania state law and rules course.

  

3. Take and pass the NMLS Pennsylvania mortgage licensing exam.
With your education complete, it’s time to schedule an appointment for the National Test Component exam. During this test, you’ll have 190 minutes to complete 125 questions. Learn how to take your NMLS exam here.

4. Apply for your Pennsylvania mortgage loan originator license.
Once you’re done with the NMLS mortgage exam, you can apply for your NMLS license by following these steps:

 

  • Go to NMLS and login to your account.

 

  • Go to the top of the screen and click Filing.

 

  • Choose the individual option.

 

  • Press to Request/New Update. Click Continue.

 

  • Click the Add button.

 

  • Find your Pennsylvania license and press the Next button.

 

  • Select the Pennsylvania Mortgage Loan Originator License option. Press Next.

 

  • Review information for accuracy and click Next.

 

  • Look over the last page before clicking Finish.

 

5. Finish background checks and pay fees (All fees are displayed below).
Now you need to pay several non-refundable fees in order to get your license. Fees include processing fees, a credit report fee, background check fee, and application fee. Look out for an invoice on NMLS after your application is approved. Get more details about how to complete your background check and fingerprinting here.

 

6. Once complete, associate your NMLS account with your employer.
Once you’re hired, you need to submit your employer sponsorship on your NMLS account. This will give you a fully active Pennsylvania mortgage license. Learn how to associate your NMLS account with your employer here.

 

PA Mortgage License Class For New Loan Officers

This bundle is now available at a discounted rate!

Now For Only $399 $269

Use Coupon Code: PAPEDEAL

PA 20 3 BUNDLE

 

PA Mortgage License Class For Previously Licensed Loan Officers

Already licensed in another state? Get licensed in PA today with this law course!

Now For Only $59

Use Coupon Code: PAPE59

PA 3 HR 

For questions about ordering or other information, call (801) 676-2520

Mortgage Education workstation

 

Have You Been Told To Get Your Mortgage Broker License in Pennsylvania?

The terms ‘mortgage broker’ and ‘mortgage loan officer’ are often used interchangeably. There is actually a significant difference between these two, and understanding the difference is a good first step towards earning your license. A mortgage broker is a company that employs mortgage loan officers. Mortgage loan originators (or loan officers) are responsible for providing new home buyers with a mortgage loan. Therefore, many of our customers who are under the impression they need a mortgage broker license in Pennsylvania actually require one of the loan originator mortgage education course bundles shown above.

 

Pennsylvania Mortgage License Requirements

Pennsylvania requires 20 hours of national mortgage education, in addition to a 3 hour PA state-specific laws and rules course. Mortgage Educators offers both of these courses in one convenient, low price bundle for $269. The bundle includes all of the necessary mortgage education course hours, and a comprehensive test prep course to help you score well on the NMLS national test.

 

New mortgage license education, or "pre-license education" can be completed one of three ways. Mortgage education courses are offered in online course bundles (like those shown above), live classroom settings, or in live webinars. Most new loan officers complete their Pennsylvania mortgage license requirements with the online course bundles shown above. The online PA mortgage license class is presented by instructors via pre-recorded video with slideshow presentations. Courses are broken up into chapters comprised of 5-minute sections and quizzes that make up the overall content. At the end of the course, students should expect a short test to check for comprehension. All hours are reported to the NMLS upon completion by Mortgage Educators & Compliance. Learn more about Pennsylvania's mortgage license education requirements here. 

 

PE Expiration Policy in Pennsylvania

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. Pennsylvania 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 Pennsylvania

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

 

  • Total License Cost: $230
  • Processing Fee: $30
  • Credit Report: $15
  • Background Check: $36.25

 

Additonal Questions?

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

 

 

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