mortgagelicensingblog

 Mortgage loan

Mortgage loan originators need to fulfill Pre-License Education requirements before obtaining a license in the United States. Each year, a certain amount of Continuing Education hours must be completed in order for the license to be renewed. 

In each state, Mortgage Loan Originator Licenses require 8 hours of Continuing Education and 20 hours of Pre-License Education. In addition, the majority of states now require added "state-specific" educational hours. Those who want to become licensed in multiple states will want to know how to select a training provider that meets their needs. 

This article will aid in making the process as simple as possible. 

Course providers must be approved through the Nationwide Mortgage Licensing System.

If the selected states require additional training, you may need to use more than one provider. It's rare for a course provider to get approved for mortgage licensing in every state where certain criteria must be met. The main reason being that some states are lacking in the demand necessary to offer coursework and go through the approval process. If you are in need of multiple state-specific licenses, try to find a course provider offering all courses required. 

Courses are offered in three different formats. Classroom training is conducted on-site. Webinar courses are done through a live webinar. Online courses are instructor-led courses delivered online, and can be completed at your own pace. That being said, there are timelines that must be met based on the type of course offered. Online self-study is practically identical to instructor-led training, but there is no window of time where one must complete the coursework. For more facts about mortgage licensing, visit this website at https://en.wikipedia.org/wiki/Mortgage_loan. 

You should look for a course provider that delivers coursework in the format that works best for you. 

The technology platform selected by the provider is critical to enabling successful coursework completion. The NMLS has established guidelines as to how the training must be conducted, such as instructor interaction, course timing, and identity verification. The good news is there appears to be plenty of flexibility in remaining compliant with the course requirements. Not all course providers are alike, so it's a good idea to research the technology platform they use before you buy their course. Visit this homepage to know more about state requirements. 

 

Customer service is a critical factor that should not be overlooked. It's not uncommon for multiple issues to come up during the training process. Some examples are, course windows unexpectedly closing, infrequent reporting to the NMLS, renewal issues, and something as simple as being unable to navigate a website properly. This is why it's critical for you to have access to an individual who can help you resolve issues in a timely manner.