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New MLO Licensing Guide 

 

How do I become an MLO with an active license?

1. Register with the NMLS.

2. Complete your state's education requirements.

3. Pass the National Exam.

4. Apply for licensure through the NMLS. 

5. Find a sponsoring company to work for. 

  

  

 MEC offers state-specific bundles to make your educational experience as seamless as possible. 

 

Click below to see your State's Educational Requirements!

 *pricing varies by state*

 

 

    1 hour          2 hours        3 hours         4 hours    

(At checkout, don't forget to enter the coupon code 20HRDEAL to receive a special promotional rate)

  MEC's TEST REIMBURSEMENT GUARANTEE  includes the TEST PREP PRO study materials with 6 + hours of video instruction by David Luna!  With the purchase of any pre-license bundle, the Test Reimbursement Guarantee may be added for only $80. Complete the entire pre-license course and extended test prep and if you fail the national exam on your first try, we will reimburse you the $110 exam fee. Click Here for more details  

 

   

 

FAQ

call to speak with a Licensing Specialist: (801) 676-2520 

 

What is a Mortgage Loan Originator?

Under the SAFE Act, an MLO is a licensed individual or institution that works with a borrower to complete a mortgage transaction.

 

What is the SAFE Act?

The Secure and Fair Enforcement Act was enacted in 2008. The SAFE Act established standards for MLOs, including mandatory NMLS-approved education and testing. The SAFE Act applies to MLOs in all states, with the exemption of those working under a depository institution.

 

What is the NMLS?

 The Nationwide Multi-State Licensing System and Registry ("NMLS&R") was created as a licensing and registration database for prospective and current licensees. The NMLS database can also assist consumers who are looking to verify licenses of both licensed mortgage loan originators and companies. 

 

 

 
*David Luna, President of MEC*

 

 

What Education do I need for my state?

 

All states require a minimum of 20 Hours of NMLS-approved, pre-license education.

Many states require additional state-specific elective hours. Please reference the NMLS's state-specific education chart to verify your state's requirements.

 

The minimum pre-license education for new mortgage loan originators is outlined in the SAFE Act as follows:

• 3 hours of federal laws and regulations
• 3 hours of ethics and fraud
 2 hours of lending standards related to non-traditional mortgage
 12 hours of undefined instruction on mortgage origination products

 

How is the Course Structured?

        

20 Hour Online Course Content Online :

 

Chapter 1...................................................Becoming an MLO

Chapter 2..........Learning the Products and the Programs

Chapter 3....................................................Initial Application

Chapter 4...............................Processing and Underwriting

Chapter 5..............................................Closing and Funding

Chapter 6..................................Ethics in Mortgage Lending

Chapter 7...........................................Review of Federal Law

Final Exam and Completion Form

 

 

Each chapter has several sections.

Each section includes a five-minute video and a one question quiz to test comprehension.

 

These courses are offered on a 5, 7 or 12 Day Track.

The courses need to be completed within the designated timeframe.

  

 

What do I need to know to pass the National Exam? 

 

There is plenty to know about to be prepared for the National Exam. Visit our Test Prep page for more information.

 

 

Click here to purchase your Required Education

 

 

EMAIL support@mortgageeducators.com with any further questions.