A step-by-step guide on obtaining your NMLS license

A step-by-step guide on obtaining your NMLS license

Here’s what you’ll need to do to complete this process: Visit the NMLS registration portal and request an account Choose the individual option Provide the required information and submit the application 2. Completing Pre-licensing NMLS Education Becoming a licensed MLO in California requires completing the 20-day SAFE pre-licensing course hours, plus additional course work required by any of the California licensing agencies. These include the California Department of Financial Protection and Innovation (DFPI) or the California Department of Real Estate (DRE), formerly the California Bureau of Real Estate (BRE). NMLS SAFE Mortgage License Training Each state requires 20 hours of mortgage education from an NMLS approved mortgage school. If you wish to obtain a new mortgage license, you will need to enroll in a 20-hour SAFE course in addition to your state’s specific requirements. CA-DFPI License Overview A CA-DFPI license is a requirement for any MLO used by a DFPI licensed broker or lender. This applies to any mortgage lender that is governed by the California Mortgage Lending Act (CRMLA) or the California Finance Act (CFL). Additional details include: The CA-DFPI must also authorize your employer. It is an easier license to obtain negotiating residential mortgage terms or processing residential mortgage applications. Requires sponsorship from a DFPI-licensed employer DRE Licensure Overview. DRE mortgage loan originator issues endorsements to licensed real estate agents. While this will provide you with the greatest flexibility in your career, you will have to finish and maintain real estate education requirements, which include:

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