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Get Your Mortgage Loan Originator License in 2020!

 

 

Massachusetts Bundle

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Starting at: $399 Now Only $269!

Use Promo Code: MAPEDEAL

 

 

Add Massachusetts Elective

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Now Only $59!

Use Promo Code: MAPE59

 

 

 

Obtaining a mortgage license and becoming a Massachusetts 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.

 

How to Get Your MLO License in Massachusetts

 

1. Fulfill all state and federal education requirements as designated by your state agency. (17+3 Hr MA)

 

2. Schedule, study for and pass your national mortgage exam.

 

3. Apply for the MLO License: Complete and submit your MU4 through the NMLS including, paying the licensing fee, completing a criminal background check and an authorized credit report.

 

 

Mortgage Broker vs. Mortgage Loan Officer – What’s the difference?

Mortgage brokers and mortgage loan officers are often confused with each other. Because of this, most people looking to get a mortgage broker’s license are actually looking for a mortgage loan officer’s license. So what is 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.

 

So what kind of courses do I need to do to get started on my license?

Massachusetts requires 20 hours of mortgage education, in addition to a 3 hour Massachusetts state law course. Mortgage Educators & Compliance offers a a low price bundle of $269 that includes the 20 hour course and a comprehensive test prep course to help you score well on the NMLS national test (does include the MA 3 hour).

 

New mortgage license education, or "pre-license education" must be completed in either a live classroom or online instructor-led format. Mortgage Educators & Compliance provides these courses weekly in an Online Instructor-Led (OIL) format. These courses are 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.

 

PE Expiration Policy in Massachusetts

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. The PE Expiration Policy is currently enacted in Massachusetts which means the policy is enforced.

 

 

 

Additional Questions?

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

 

 

 

 

Massachusetts Mortgage Education Pre-Licensing