Looking to get a mortgage loan originator license in the state of California? We’ve broken down the process into a few easy steps below
Before you can get an MLO license, you’re required to completea mortgage loan originator pre-license education with an accredited and trustworthy school. First, you’ll need to create a NMLS account before enrolling with an education provider. For the state of California it is required to complete 20-hours of education approved by the National Mortgage Licensing System. After receiving a passing grade, you will have satisfied this requirement.
Then it’s time to prepare for and pass the national and state MLO exams. A mortgage loan originator handbook is available for specific test requirements. Make sure you review and follow it closely. Before signing up for the test, many students utilized MLOtest prep materials to ready themselves for the license exams. Once you’re comfortable with the material, it’s time to sit for your test. Check your handbook for testing facility locations then submit an application and reserve a spot through your NMLS account.
After passing the test, there’re a few basic requirements applicants need to complete before a license can be issued. Test takers will need to complete both a criminal background check and a credit check. Then, if not done already, students will need to request a sponsor or company relationship through the MU4 form on the NMLS site.
Once everything checks out, CONGRATULATIONS, you can now start working with your new company or sponsor as a California Mortgage Loan Originator.