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Learn how to become a mortgage broker with online education from OnCourse Learning. Choose from NMLS-approved courses for pre-license, exam prep, continuing education and more.
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Find online courses for mortgage loan officer (MLO) license, exam prep, continuing education and professional development. Subscribe to Mortgage HQ for market news, rates, trends and discounts.
- What Does A Mortgage Loan Officer do?
- How to Become A Mortgage Loan Officer
- Salary and Job Outlook For A Mortgage Loan Officer
- Skills For A Mortgage Loan Officer
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Collecting all borrowers' financial information, including taxes and debt, for the loanPresenting clients with loan options that are a good fit for themIdentifying future homebuyers through advertising, seminars and other channelsMaintaining detailed and factually correct documents on mortgage transactions2. Complete pre-licensure courses
1. Federal law and regulations (three hours) 2. Ethics, including sections about fraud, fair lending and consumer protection issues (three hours) 3. Training related to lending standards in the non-traditional mortgage product market (two hours) 4. Additional instruction on mortgage origination (12 hours)
4. Pass the SAFE MLO test
1. Register with the NMLS 2. Provide authorization for a credit report (you must have a strong credit history) 3. Provide fingerprints for a criminal background check 4. Verify the accuracy and completeness of the information they provide 5. Disclose any charges from financial regulatory agencies 6. Provide 10 years' worth of financial services employment history 7. Present several types of identification information
5. Fulfill NMLS requirements
1. Sponsorship:Ensure that your employer sponsors and supervises your MLO duties. Your state's regulatory body also must also approve your sponsorships. 2. NMLS Unique Identifier:This is a permanent number that every MLO, real estate company and branch with an NMLS account has. These unique Identifiers help track companies and licensees and are listed on all advertisements for mortgage origination services.
Mortgage loan originator: $162,095 per year. The average commission for this role is $27,600 per year.Loan officer: $169,030 per year. The average commission for this role is $24,000 per year.Organization:MLOs often work on multiple loans at the same time, making organization an important skill to develop. It also helps them keep track of their continuing education and licensing require...Attention to detail:Since MLOs work with a lot of numbers and specific loan factors, attention to detail is particularly useful. With this skill, they can ensure interest rates, loan amounts and bo...Financial skills:MLOs should have detailed financial knowledge to help borrowers make informed decisions. They spend most of their days reviewing finances, including credit scores and income, to de...Learn the basic requirements, courses, exams and licensure for becoming a mortgage loan officer. Find out the salary, skills and job outlook for this career in the real estate industry.
Comprehensive loan officer & mortgage broker NMLS-approved licensing and training. Licensing education for ALL states! Classroom, webcasts, and self-study.
To start your mortgage loan officer career, there are specific educational and professional requirements you’ll need to fulfill: Education requirements: In most cases, a high school diploma or equivalent is the minimum educational requirement for becoming an MLO. However, a higher level of education, such as an associate or bachelor’s ...
Learn the licensing requirements, duties, and skills of a mortgage loan officer. Find online courses, seminars, and webinars to help you start or advance your career as a loan officer.
Mar 28, 2012 · Learn how to become a licensed mortgage loan originator with comprehensive and flexible courses from Real Estate Institute. Choose from live classes, webinars, or online instructor-led programs and get ready for your SAFE exam.
