Get Your Mortgage Loan Originator License in 2020!
Texas Pre-Licensing Bundle
Starting at: $399 Now Only $269!
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Add Texas Elective
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Use Promo Code: TXPE59
Additional General Electives
Texas requires 20 hours of general elective that cannot be fulfilled using any other state specific electives. For your convenience, MEC offers both a 2 hour and 4 hour general elective course to fulfill the required education.
Obtaining a mortgage license and becoming a Texas loan officer is very simple, but it’s not for everyone. It takes a willingness to learn the basic ins and outs of the industry as well as a desire to work hard. The mortgage industry is a great one to get into and it provides a lot of flexibility. If you like to work hard, you are a people person, and you have a desire to learn, becoming a mortgage loan officer is the perfect choice for you.
Fortunately, Mortgage Educators is here to help. All of our curriculums are created and taught by industry experts with years of experience resulting in rewarding content to help you prepare to get your license and excel in your career as a Mortgage Loan Originator.
How to Get Your MLO Mortgage License in Texas
1. Apply for your NMLS Account and ID Number
The first step to getting your Texas mortgage license is applying for an NMLS account and ID number. To do so, go to the NMLS website.
2. Complete your NMLS Pre-License Education
Texas requires new state-licensed MLOs to complete 23 hours of NMLS-approved education. This includes 3 hours of Federal law, 3 hours of ethics, 2 hours of non-traditional mortgage lending, 12 hours of electives, and 3 hours of Texas specific law.
3. Pass the NMLS Mortgage Licensing Exam
With your education complete, you need to schedule an appointment for the National Test Component exam. Find out more on how to take your NMLS exam here.
4. Apply for your Texas Mortgage License
After receiving a passing score on your NMLS mortgage exam, you need to apply for your NMLS license. You can find more information on this step here.
5. Complete Background Checks and Pay All Fees
To finalize your application and receive your license, you’ll need to pay several non-refundable fees and get a background check. Find out more about how to complete your background check and fingerprints here.
6. Associate your NMLS Account with your Employer
You won’t be fully licensed in Texas until you have an employer sponsorship, which lets the government know that an employer is supervising your individual license. Learn how to associate your NMLS account with your employer here.
Frequently Asked Questions
Texas Mortgage Licensing Requirements
Texas requires 20 hours of NMLS approved mortgage education, plus an additional 3 hour Texas state law and rules course. Mortgage Educators & Compliance offers the both of these courses in a low price bundle of $269 that includes both education required courses and a comprehensive test prep to help you score well on the NMLS National Test with UST component.
Pre-license mortgage education requirements can be fulfilled in one of three ways; with an online instructor-led course, via a live webinar, or in a live classroom. Mortgage Educators provides these courses in all three available formats. We find that the majority of new loan officers elect for the flexible Online Instructor-Led (OIL) format, which consists of pre-recorded video lectures supported by slideshow presentations, and quizzes that ensure content retention. As you complete your mortgage education, we will report all completed hours of education to the NMLS.
Texas Mortgage Broker License VS. Texas Loan Officer License
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 Texas
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. Texas is currently enacted for the PE Expiration policy, which means the policy is currently enforced.
Cost of Getting Your License in Texas
When you’re ready to get your NMLS license in Texas, be prepared to pay the following fees:
$190 - Licensing/Registration Fee
$30 - NMLS Processing Fee
$15 - Credit Report
$36.25 - Background Check
Additional Questions?
Mortgage Educators and Compliance is here to answer any additional questions that you may have in regards to your Texas mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.
