Choose Your State Below
Get Your NMLS Mortgage License Training
Take the steps to start a new career with Allied Real Estate Schools today. Enroll in the courses you need and prepare yourself for a rewarding new career as a mortgage loan originator. It’s easy to get started!
- Step 1: Select your state for MLO education options.
- Step 2: Choose the license or renewal course you want.
- Step 3: Then enroll in your course. It’s that simple.
Why Choose Allied for Your Mortgage License Training?
With Allied on your side, you will receive the industry-leading materials you need to meet your pre-license requirements and prepare for your MLO exam. If you need to meet your CE (continuing education) hours, we can help with that too. Choose Allied for your SAFE education and maximize your career potential.
Benefit with Allied Courses:
Allied real estate courses are the convenient way to complete your pre-license education online from a school you can count on. Allied’s courses help get you ready for your state exam and your new career as a mortgage loan originator. Allied offers each student:
- Trusted & Convenient
- Live Student Support
- Online Study Format
The Road to Getting Your MLO License
Before you can sit for the state MLO license exam, you’ll need to meet a few requirements. Follow these guidelines to ensure the journey to your MLO license is a smooth as possible.
- Meet basic requirements: Be at least 18 years old, have a clean criminal record and submit a credit check.
- Create an NMLS account: Talk with your employer to determine who will create and manage your account through the NMLS, then submit your application.
- Complete your pre-license education: You will need to complete your state’s required hours of pre-license education prior to taking the state MLO license exam. Only NMLS approved education providers like Allied Real Estate Schools qualify for this requirement.
- Take the state exam: Once you’ve completed and passed your pre-license education you can apply for the MLO license exam through your NMLS account. Schedule your state exam with the appropriate testing facility through NMLS and receive a passing grade to become a new mortgage loan originator.
Once you’ve passed the state exam and received your license, you’ll be able to start evaluating loan applications for people and businesses as a new MLO.
Partner with a Trusted Real Estate School
With over a million enrollments and more than twenty years of providing quality online courses, Allied is the reliable approach to getting and maintaining your MLO license. Get your education from a trusted real estate school with live student support. Plus you can rest assured knowing that your pre-license education is up-to-date and will count toward your state education requirements.
What’s the Difference Between a Mortgage Loan Originator and a Mortgage Loan Officer?
The two terms are interchangeable within the mortgage industry. The official name is Mortgage Loan Originator, but they are also called Mortgage Loan Officers or just Loan Officers or MLO’s for short.
What are the Job Responsibilities of MLOs?
They assist borrowers with the purchasing and refinancing of homes. They are also responsible for determining whether borrowers qualify for property loans by going through their financial history and verifying credit worthiness. MLOs also need to make sure that the loan agreements meet federal and state criteria. Loan officers need to know the in-and-outs of the loan approval process and the federal and state regulations to make sure each loan meets government standards.
What are the education requirements?
MLOs need to have at least a high school degree or equivalent before taking the next educational steps to becoming a licensed loan officer. All mortgage loan officers need to complete the state required pre-license education to receive their license. After receiving a license, MLOs will need to complete post-license courses to keep it current. Many companies require loan officers to have a college degree and they also provide on-the-job training for new MLO’s to become familiar with the loan approval process.
How often are the Renewal Requirements for an MLO License?
Once you’ve obtained your MLO license and completed your original pre-license education, you are required to take an additional 8 hours of continuing education each year after.
Job market outlook
Job growth for mortgage loan originators fluctuates with the economy and how well the real estate market is doing. When times are good, MLO’s are in high demand and the opposite is true when the economy goes through a recession. The real estate industry is currently pulling out of a recession and recent statistics project a slow and steady growth over the next decade. As home sales start to trend upward, so will the need for qualified mortgage loan originators.
What is the median pay?
According to the Bureau of Labor Statistics (BLS)* the median wage in 2014 for loan officers was $62,620. This means half of all MLOs made more than this and half made less. The top 10 percent of loan officers made over $128,390 a year.
MLOs can earn a flat salary or be paid by commission which is determined by the employer. Some have a base salary and earn commission sales on top. They can also earn extra commissions and bonuses depending on how well they perform at their job.
Get Started Today!
Allied Real Estate Schools’ courses help busy real estate professionals complete their required MLO education online. With distance learning, you don’t have to travel to far away classes wasting valuable time and energy. Allied works well with busy professionals allowing you to take Allied courses from anywhere you want, at any time of the day. All you need is an internet connection and the drive to succeed and you can get started with your classes the day you enroll.
So what are you waiting for? Enroll in your mortgage courses today and realize your full career potential! Talk to an Allied representative today to get started. 1-800-617-3513
Enroll now or talk with an Allied Representative today.
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2016-17 Edition, Loan Officers (website visited February 15, 2016).