If you’d like to become a loan officer in Arizona, there is a clear path to follow to get your Arizona MLO license and begin your career in the mortgage industry. The term mortgage loan originator (MLO), licensed mortgage loan officer are frequently used interchangeably and both reflect the important job of helping home buyers find and secure the right home loan for them.
As a successful loan officer you’ll need both a comprehensive understanding of the mortgage industry and financial regulations as well as good interpersonal and communication skills. To get your mortgage loan originator license you will first learn the national and Arizona state-level lending guidelines and then pass an exam to show your mortgage knowledge.
Let’s dive into our step-by-step guide of how to become a AZ loan officer.
- Step 1: Request your NMLS account
- Step 2: Receive your personal NMLS ID number
- Step 3: Review Arizona state specific licensing requirements for Arizona
- Step 4: Complete national and Arizona pre-licensing mortgage coursework
- Step 5: Prepare for the national SAFE Test
- Step 6: Pass the SAFE exam
- Step 7: Complete a background check and get fingerprinted
- Step 8: Complete and Submit your MU4 to NMLS
- Step 9: Get sponsored by a mortgage company
- Join the Morty platform as a loan officer.
Step 1: Request your NMLS account
Start your journey to become an mlo by visiting the NMLS to request an account. NMLS stands for the Nationwide Multistate Licensing System & Register or the Nationwide Mortgage Licensing System. If you already have an NMLS account, and are looking to add Arizona to your mortgage license, skip to step #3.
Step 2: Receive your personal NMLS ID number
Once you’ve registered with the NMLS, you’ll receive an individual NMLS ID number to use throughout your career as a mortgage loan originator. The same NMLS ID is used for your license in Arizona and any other states you might consider getting licensed in like California, New Mexico and Oklahoma.
Step 3: Review Arizona state specific licensing requirements for Arizona
Check Arizona state-specific licensing requirements through Arizona MLO license requirements on NMLS’s Resource Center. Here, you’ll find the additional steps required to obtain your MLO license in Arizona. You will want to complete this step for any additional state you’d like to get licensed in.
Step 4: Complete national and Arizona pre-licensing mortgage coursework
Complete the required 20 hours of pre-licensing coursework. Pre-licensing classes for becoming a mortgage loan officer cover a range of topics from mortgage industry fundamentals to ethics and professional conduct. In Arizona, 4 additional hours of work must be completed that are dedicated to state-specific laws and regulations.
Step 5: Prepare for the national SAFE Test
After you’ve completed your 20 hours pre license course and the additional 4 hours of Arizona specific education, it’s time to study for your Secure and Fair Enforcement (SAFE) exam. The SAFE exam was instituted by Congress as part of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.
Purchase your SAFE test prep materials and practice tests to begin studying. Morty covers the $100 cost of test prep materials for loan officers joining the Morty platform.
Step 6: Pass the SAFE exam
To get your MLO license, you’ll need to pass the NMLS’s SAFE Mortgage Loan Originator Test with a score of 75% or higher. To reiterate, this exam is meant to test your understanding of core concepts in mortgage lending before you begin working with customers and recommending loan products. The SAFE exam is 190 minutes long, and costs $110.
Schedule your test at your convenience and when you feel prepared. If you don’t pass the exam on your first attempt, you’ll have to wait 30 days before retaking the SAFE exam.
Step 7: Complete a background check and get fingerprinted
As a prospective mlo, you must complete a criminal background check. The background check can be initiated through your NMLS portal. You must also make an appointment to have your fingerprints taken, which can also be arranged through the NMLS portal. The current cost of both the background check and the fingerprinting is $36.25.
Step 8: Complete and Submit your MU4 to NMLS
Once you’ve passed your test and done your background checks, you’re ready to file your Individual (MU4) Form. Head to your NMLS portal to file your Individual (MU4) Form and pay your NMLS fees. The cost to file your mortgage loan officer license in Arizona is: $30 NMLS application fee, $350 state application fee, $100 surety bond fee, a $15 credit report fee and the following licensing and registration fee depending on what month you submit your MU4:
- January, February and March: $150.00
- April, May and June: $112.50
- July, August and September: $75.00
- October: $37.50
- November and December $187.50 (includes following year renewal fee)
Step 9: Get sponsored by a mortgage company
After finding and being hired by a mortgage originator, that’s either a mortgage broker like Morty or a mortgage lender like a bank or credit union, you can initiate the sponsorship process by submitting the company’s credentials to the NMLS for verification. As soon as NMLS gives final approval — congrats, you officially have your mortgage loan originator license in Arizona!
Are you looking for sponsorship in Arizona?
If you’ve completed the pre-licensing work and passed the SAFE exam to become an mlo in California, the next thing to consider is what mortgage company will to sponsor your license.
We’d love for you to be sponsored by Morty! Morty is a technology-enabled online licensed mortgage broker. Morty offers loan officers, and their clients, a better, more seamless mortgage experience through our lender marketplace, competitive pricing, affordability tools, underwriting technology, along with the built-in support from our processing and fulfillment teams.
Interested in how to get your MLO license in multiple states?
Are you interested in getting your loan officer license in multiple states? To become licensed in states other than Arizona, you’ll need to fulfill the additional education requirements for each state and file your Individual (MU4) Form for each state through NMLS.
Morty is licensed in 45 states and can help you quickly get sponsored in multiple states. To get started, we put together mortgage licensing guides for many states including: Georgia, North Carolina, Florida and Michigan.
Join the Morty platform as a loan officer.
Morty makes it quick and easy to for licensed MLOs to get sponsored and work off our platform. We’re so confident that new MLOs will love working with Morty, we’ll even reimburse you for the fees associated with pre-licensing, exams and applications after you’ve been sponsored and fully onboarded to Morty.