BECOMe A MOrtgage loan officer in wholesale lending

To start your career as a mortgage loan officer, you’ll need to complete at least 20 hours of NMLS-approved pre-license education (Nationwide Mortgage Licensing System). Approved training administrators can help you fulfill this requirement online, no matter which state you plan to work in.

Mortgage loan officers are required by The Secure and Fair Enforcement (SAFE) for Mortgage Licensing Act of 2008, to pass the national SAFE MLO Test, which includes both federal and state specific content to satisfy testing requirements for each state. Once you’ve registered and paid for your test enrollment with the NMLS, schedule your test with Prometric. Exam results are typically available on the NMLS database after 72 hours.

After completing your pre-licensure education and passing your SAFE MLO Test, you’ll need to submit your application (Form MU4) and processing fees to the NMLS. You’ll also need to clear a credit check and a criminal background check to qualify. If you’re already working with one — they may assist you with completing your MU4 form. If you’re looking for an employer and have passed your SAFE MLO Test, see step 5 for help locating a mortgage brokerage hiring in your area.

The last step to complete your licensing is to log into your NMLS account and request “Approved-Inactive” status for licensing. This status shows that you’re not currently employed as a mortgage loan originator and meet all the other requirements. Once you’re hired, your company will submit a sponsorship request with the NMLS and this “Inactive” status will be removed.

After you have completed the previous four steps, contact us and we’ll work with you to introduce you to an established mortgage brokerages in your area that are hiring.

As an independent mortgage professional, you have access to a multitude of resources exclusive to the wholesale mortgage industry. Your brokerage works with designated wholesale lenders, so be sure to connect with them to hit the ground running with the cutting-edge tools, technology and training they offer to ensure your success. And join industry trade organizations like AIME (Association of Independent Mortgage Experts) to connect with the community of mortgage professionals across the country.