NMLS License Texas: How to Become a Mortgage Loan Officer in Texas
Texas Pre-Licensing Bundle
Starting at: $399 Now Only $269!
Use Promo Code: TXPE269
Licensed in another state and want to add Texas?
Now Only $74.98!
Use Promo Code: TXPE75
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 license's educational requirements.
How to Get an NMLS Mortgage License in Texas
Are you interested in starting a new career? Learn how to become a loan officer in Texas and get your license from the nationwide mortgage licensing system through this NMLS Texas guide. There are six main steps you need to follow as well as information regarding costs, education, and other requirements to become a licensed mortgage loan originator.
|
Step 1 |
Step 2 |
Step 3 |
||||||||
Apply For Your NMLS Account and ID Number |
Complete Your NMLS Pre-License Education |
Need to Pass the NMLS Mortgage Licensing Exam |
||||||||
|
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (or the SAFE Act) changed the way mortgage loans are processed, including the requirement to register both federally and at the state level through the same registration system, NMLS (or Nationwide Multistate Licensing System), which is fully online. Therefore, the first step to getting the mortgage loan originator license status in Texas is to register with the NMLS by applying online for an account and NMLS ID number. To do so, go to the NMLS website. |
With access to the NMLS website, you can obtain and complete your pre-license education. The Texas Department of Savings and Mortgage Lending requires 23 hours (20 hours & 3 hours elective) of SAFE education before you are able to apply and obtain your mortgage loan officer license. |
With your pre-license education complete, your hours will be reported to the NMLS via your education provider, you will want to schedule an appointment for the National Test. Find out more on how to take your NMLS test here. Also check out the NMLS MLO testing handbook. Note that you must pass with at least a 75% or greater or you will have to take the exam again. The first time pass rate is above 50% at 58% (according to a statement made by the NMLS), but passing is not an easy task. |
||||||||
Step 4 |
Step 5 |
Step 6 |
||||||||
Complete Background Checks and Pay All Fees |
Apply for Your Texas Mortgage License |
Associate Your NMLS Account with Your Employer |
||||||||
|
To finalize your application and receive your license, you will need to pay several non-refundable fees, including an application fee, filing fees and a criminal background check (this will also include review of your credit report). Find out more about how to complete your background check here. |
After receiving a passing score on your NMLS mortgage licensing exam, you need to apply for your Texas SML mortgage loan originator license. You can find more information on this step here. |
Your license will still be pending with the Texas office until you have employer sponsorship through the bank, credit union, or other company of your choice. This sponsorship lets the government know that an employer is supervising your individual license. Learn how to associate your NMLS account with your employer here. |
Becoming a Mortgage Loan Originator in Texas
We’ll be honest, getting your MLO license in Texas takes determination and dedication. You must focus during instruction, study hard and prepare thoroughly for the licensing exam, and then keep up with continuing education requirements because regulations in lending can change dramatically. There will be times when business is booming and other times when business is slow, so you'll have to learn how to create and stick to a schedule.
With your license in Texas, you can have a lucrative career and receive great compensation for your efforts, but you can also help people’s home dreams come true as you help them buy, rehab, remodel, and renew the house of their dreams. Bring joy to your clients as you help them through each step of the process, including the application, credit check,, underwriting, and closing. Not only can you show your clients how to obtain a residential mortgage loan for purchasing a home, you will also be able to provide mortgage loans for house rehab, remodel, and renewal work so that they can make their house into the home of their dreams.
Texas Frequently Asked Questions
In an effort to curb the predatory lending practices that led to the demise of the housing and residential mortgage industry in 2008, the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act was passed. This opened up a world of opportunity to those driven to attain an MLO license and then work hard to match people with loan products.
Mortgage license requirements in Texas only require 23 total hours of instruction. NMLS requires 20 hours comprised of:
| Topic | Hours Required |
|---|---|
| Fair Lending, Ethics, Fraud, and Consumer Protection | 3 Hours |
| Federal Laws and Regulations | 3 Hours |
| Electives | 10 Hours |
| Non-Standard Lending | 2 Hours |
| Texas State Law Education | 2 Hours |
| Total 20 Hours | |
The remaining 3 hours must discuss Texas State Specific law. The MEC Texas 3-Hour Elective course is a self-paced online course that covers:
-
Home Equity Loan Law.
-
Reverse Mortgage Law
-
Judicial vs. Non-Judicial Foreclosure
-
Texas Savings and Mortgage Lending Department
