Typically, candidates for the position of Mortgage Loan Originator (MLO) must complete twenty hours of training. Texas Licensees who are licenced by the SML are exempt because they are required to complete three hours of supplemental training on state-specific laws. Bringing the total time devoted in training to 23 hours. This will be broken down further in the future. Here is the steps of How to become a loan officer in Texas.
The Texas Department of Savings and Mortgage Lending oversee the fundamental requirements for obtaining the mortgage loan officer licence in the state of Texas. Loan officers must also register with Nationwide Mortgage Licencing System as well as Registry, a national database containing information about mortgage loan officers.
- Step 1: The first step is to obtain the application form for a mortgage broker/loan officer licence from the Texas Department of Savings and Mortgage Lending website.
- Step 2: Register for the exam on the website of Pearson VUE (see References), the company responsible for administering the Texas loan officer pre-licensing exam on behalf of the Texas Department of Savings and Mortgage Lending. Certification will be granted upon effective completion of the examination. Exam topics include state and federal laws and regulations, fundamental financial issues, the Real Estate Settlement Procedures Act, Texas mortgage loan officer guidelines, and other essential legal concepts. Download the test subjects from Pearson VUE (for more information, see the Resources section); this will help you prepare for the exam.
- Step 3: Once you have the form in front of you, fill it out in its entirety and mail it to the Texas Department of Savings and Mortgage Lending Division of Licencing at 2601 North Lamar Boulevard, Suite 201, Austin, Texas 78705. Include a cheque for $329.25 made payable to the department; this is the total cost associated with submitting an application to become a loan officer in Texas. You should also include the certification you received after passing the pre-licensing exam administered by Pearson VUE.
- Step 4: The fourth step is to indicate that you consent to a criminal background investigation by the Texas Department of Savings and Mortgage Lending. This is necessary in order to become the mortgage loan officer.
- Step 5 If your application is approved by the Texas Department of Savings and Mortgage Lending, you must register as a mortgage loan officer by accessing the Nationwide Mortgage Mortgage Licencing System and Registry website (for a list of references, see the section titled “References”).
Our mortgage loan officer licence training classes in Texas are convenient, affordable, and state and NMLS-approved. This allows mortgage brokers in Texas to acquire knowledge at their own tempo.
Final words
Through the Mortgage Training Centre in the state of Texas, training and licencing for the National Mortgage Licencing System (NMLS) are offered both in-person and online. Simply select the option that meets your needs the best from the courses recommended on this page. Alternately, you may enter “NMLS” and your state of residence in the “Licencing” section of this page’s search field. What specifically are you anticipating? Sign up for one of our SAFE / NMLS training courses today to get started on your path to becoming a Texas mortgage broker.
