In any task, the outcome is always better when collective minds and resources are used. This also is true when it comes to education.
A community of talent and expertise produces the best result. Mortgage Knowledge was the brainchild of the industry's top educator. After 40 years of teaching more than 40,000 mortgage industry professionals, he knew finding the right education provider was crucial to becoming successful in this very competitive industry. With dozens of industry education providers in the market, individuals looking to enter or advance their career needed high-quality education they could depend on. But this couldn’t always be accomplished with a single education provider. Many of the best education providers focused on quality education for a specific purpose or area of the industry. This left people having to find multiple providers or accepting limited education from a single provider.
Mortgage Knowledge is a revolutionary industry concept where top education providers and mortgage professionals can meet to exchange knowledge and ideas. A community of like-minded professionals where industry and licensing education can be obtained along with the community-power of on-going resource and idea sharing.
Mortgage Knowledge is not an NMLS approved education provider, rather it is a community of the best education providers. Industry professionals can now find the proper education and be assured the education will be the best available. Plus, using Mortgage Knowledge to arrange your education will never cost you more than finding it on your own...the power of community!
As of 2010, after the SAFE Act and creation of the Nationwide Mortgage Licensing System - NMLS, almost everyone acting as a mortgage loan originator needs to have a state issued loan originator license (many times referred to as a loan officer license or mortgage broker license).
- Mortgage Loan Originators (MLOs) - not working for a bank or credit union
- Mortgage Brokers
- Mortgage Loan Modifiers
- Loan Origination Managers
- Mortgage Processors (Independent Contractors)
- Mortgage Underwriters (Independent Contractors)
It is also suggested that Loan Originator Assistants (LOAs) have an MLO license.
Though the process to get an MLO license is not extreme, following the proper procedure will make it easier and less time-consuming. It all begins by obtaining the proper mortgage education from a good mortgage school. Who you choose for your education will affect how long it takes to get your license. Mortgage Knowledge provides you access to the nation's best mortgage schools and industry leading instructors. These schools provide the highest quality education and help you successfully pass the NMLS test.
Many states require some state-specific education to obtain your MLO license. Mortgage Knowledge can provide you with any state education requirement. After you pass the NMLS test, you then file your application with the state for your MLO license. Each state is different on the application process, cost and amount of time required. Some people believe NMLS issues licenses, that's not true, there is no such thing as an NMLS license, only the state issues an MLO license.
All MLO licenses expire at the end of the year (some states earlier than December 31st). Each year the MLO will need to renew their mortgage license with the state. Part of the MLO license renewal process is continuing education. The minimum annual continuing education is 8 hours (some states require more than 8 hours). Mortgage Knowledge has CE education for all states and courses are offered online, through webinars and in the classroom. Select the state education you need and how you want to take the class - Mortgage Knowledge will do the rest.