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washington mortgage license

NMLS Washington Mortgage License Requirements

Each state has specific NMLS license requirements when it comes to mortgage education. Washington state requires 22 hours of mortgage education - including a 4 hour Washington state-specific course.

Mortgage Educators & Compliance has conveniently bundled the nationally required 18-hour mortgage training course with the state-specific 4-hour state law course in one convenient package for Loan Officers

Additionally, this course bundle includes a comprehensive national test prep to help you pass the national exam on your first try. If you are already licensed in another state, we offer a separate mortgage education course with just the NMLS approved 4 hours of state-specific material.

 

22 Hr. Pre-Licensing Course For New Loan Officer

This bundle is now available at a discounted rate!

Now For Only $399 $275

Use Coupon Code: WAPEDEAL

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Mortgage Licenses In Washington State For Existing Loan Officers

Already licensed in another state? Get your Washington license today!

Now For Only $76

Use Coupon Code: WAPE76

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

 

In order to obtain your loan officer license in Washington state, you must complete these education requirements in either a live classroom, Online Instructor-Led (OIL) format, or via live webinar format. The mortgage pre-licensing course bundles shown above are delivered in the OIL format. 

The courses are comprised of 5-minute sections, which are presented by a pre-recorded video presentation from one of our experienced instructors. After each section, there is a short quiz that covers that section’s content. Upon finishing the mortgage training course bundle, you should expect a test checking comprehension. 

All completed hours of mortgage education are reported to the NMLS by Mortgage Educators & Compliance.

 

Additional Requirements Washington NMLS Pre-Licensing Education Requirements

In accordance with the Secure and Fair Enforcement for Mortgage Licensing Act, all those wishing to obtain their NMLS license in Washington must complete additional requirements on top of completing their education hours. These additional steps include:

 

1. Complete a Criminal Background Check (CBC).

 

2. Authorize a credit report through the NMLS.

 

3. Fulfill all state and federal education requirements as designated by your state agency.

 

4. Take and pass a National Test.

 

5. Apply for the MLO License: Complete and submit your MU4 through the NMLS, including paying the license fee.

 

6. Sponsorship: Contact your employer to submit a sponsorship request in NMLS for your license application.

 

7. Fingerprinting: After applying for the MLO license, schedule an appointment to have your fingerprints taken by a NMLS-authorized fingerprint vendor. DFI cannot begin processing your MLO application until criminal background check results have been reported in the NMLS.


8. After applying for the MLO license, fax or email the MLO New Application checklist to DFI at (360) 664-2258 or DCS@dfi.wa.gov.

 

Washington NMLS Pre-Licensing Education Requirements

 

 New state-licensed MLOs are required to complete 22 hours of NMLS-approved education. This includes:

 

  • 3 hours or federal law
  • 3 hours of ethics
  • 2 hours of non-traditional mortgage lending training
  • 10 hours of electives
  • 4 hours of Washington state-specific education

 

In addition, there are financial costs associated with getting your Washington mortgage license:

 

1. $901 license costs.

2. $100 NMLS processing fee.

3. $15 credit report fee.

4. $36.25 background check fee.

 

Total application fees: $1,052.25

 

Keep in mind that this does not include fees for reporting course hours to the NMLS. Mortgage Educators includes all course reporting fees in its prices to help make that process easier. You will, however, be responsible for paying the NMLS testing fee ($110).

 

Washington Continuing Education Requirements

 

After you obtain your Washington Mortgage License, there are still educational requirements that you must meet in order to get your Washington mortgage license renewal approved and maintain your MLO status.

 

State-licensed MLOs are required to complete 9 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:

 

  • 3 hours of federal law
  • 2 hours of ethics
  • 2 hours of non-traditional mortgage lending
  • 1 hour of electives
  • 1 hour of Washington state-specific education

 

In order to comply with the SAFE Act’s “successive years” rule, MLOs should note that they may not take the same CE course two years in a row. 

 

 

 

Become an MLO in Washington

 

Whether you are looking for a Washington mortgage license renewal or are seeking to obtain your license for the first time, our courses will help you meet all the educational requirements and prepare you to pass the national NMLS test.

 

If you have any questions about our courses, or about how to become an MLO, contact us today. We’re more than happy to answer any questions you may have.

 

The Difference Between A Loan Officer And A Washington Mortgage Broker License

Mortgage broker licenses and loan officer licenses are commonly confused. While they are similar, these two things are not the same. Simply put, a loan officer is employed by a mortgage broker. Loan officers are responsible for leading homebuyers through the mortgage loan process. As such, many people that are looking for a Washington mortgage broker license actually require a loan officer license. Get your Washington loan officer license today with one of the NMLS approved course bundles shown above!

Additional Questions?

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

 

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