How to get loan officer license in california?

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margie.johnson

by margie.johnson, in category: General Finance , 3 months ago

How to get loan officer license in california?

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1 answer

J

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by juana , 3 months ago

@margie.johnson Becoming a loan officer may seem to be tough and challenging. However, it is rewarding at the same time. For example, you can enhance your loan or mortgage officer skills in California and pursue a successful career.

You cannot become a loan officer without learning the business. As the loan officer, you cannot obtain a driving license without going through a formal driving course. For example, a California loan or mortgage officer candidate must opt for a state-approved pre-licensing system. The introductory course is usually a 20-credit hours NMLS-approved course.


Here are six steps you need to follow to get your Loan Officer license in California:


Apply for a Personal NMLS Account

Candidates must request an NMLS account by registering on the official NMLS online registration portal. In addition, you must fill in your details on this portal and complete the registration process.


Complete the Pre-Licensing Course

As discussed earlier, a candidate who wants to become a loan officer must complete an NMLA-approved 20 credit hours pre-licensing course. In addition, some agencies like the California Department of Financial Protection and Innovation (DFPI) also need some additional coursework that must be completed before application.


Secure Pass Marks in NMLS Mortgage License Exam

After passing the course, the candidate must appear for the NMLS Mortgage License Exam by applying through the NMLS account. This test is called the National Test Component with Uniform State Content. The National Test Component is an exam that tests the candidate’s knowledge of various loan laws in the state of California.


Applying for License

After completing the pre-licensing course and passing the Mortgage License Exam, you can apply for the license. Login to your NMLS account and fill in the required details. You will be redirected to the subsequent actions by the website interface. Read the instructions properly and apply for the license.


Fees Payment

According to the SAFE act in California, loan officers have to pay the fees (primary and associated) to obtain the Loan Officer Certification from the state. The state authorities will conduct a criminal background check, in addition, the candidate must create a field print account and schedule an appointment for a fingerprint check. Similarly, the candidate shall have to authorize a credit report vis the respective NMLS account.


The state shall now authorize the candidate with a Loan Officer License. The candidate can use this credential to get hired or practice as a freelancer as a Licensed Loan Officer in California