If you’d like to become a loan officer in Florida, there is a clear path to follow to get your Florida 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.
To be a successful loan officer you’ll need both a comprehensive understanding of the mortgage industry, financial regulations as well as good interpersonal and communication skills. You’ll need to learn the national and Florida state-level guidelines and pass an exam to show your mortgage knowledge and expertise. Let’s dive into our step-by-step guide of how to become a mlo in Florida and fulfill all of the mortgage license requirements.
- Step 1: Request your NMLS Account
- Step 2: Receive your personal NMLS ID number
- Step 3: Review Florida’s state-specific mortgage licensing requirements
- Step 4: Complete national and Florida pre-licensing mortgage coursework
- Step 5: Prepare for the national mortgage SAFE exam
- Step 6: Pass the national SAFE exam
- Step 7: Complete a background check and get fingerprinted
- Step 8: Submit your mortgage license application to NMLS
- Step 9: Get sponsored by a mortgage company
- Are you looking for mortgage sponsorship in Florida?
- Interested in getting your MLO license in multiple states?
- Joining the Morty platform as an MLO
Step 1: Request your NMLS Account
Start your journey to become an mlo by requesting an NMLS account through the Nationwide Multistate Licensing System & Registry (NMLS), which is also commonly referred to as the Nationwide Mortgage Licensing System.
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 licensed loan officer. The same NMLS ID is used for your license in Florida and any other states you might consider getting licensed in like Georgia, Alabama or North Carolina.
Step 3: Review Florida’s state-specific mortgage licensing requirements
Check Florida’s state-specific licensing requirements through NMLS Resource Center, State Licensing website. Here, you’ll find the additional steps required to obtain your MLO license in Florida. You will want to complete this step for any additional state you’d like to get licensed in.
Step 4: Complete national and Florida 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 and financial regulations to ethics and professional conduct. In Florida, 2 additional hours of work must be completed that are dedicated to state-specific laws and regulations.
Step 5: Prepare for the national mortgage SAFE exam
After you’ve completed your 20 hours pre license course and the additional 2 hours of Florida specific education, it’s time to study for your SAFE exam. First you’ll want to purchase your SAFE test prep materials and practice tests to begin studying and getting ready for the Secure and Fair Enforcement (SAFE) exam. This exam was instituted by Congress as part of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. For loan officers joining the Morty platform, Morty covers the costs of test prep materials, a $100 value.
Step 6: Pass the national SAFE exam
To obtain your MLO license, you’ll need to pass the NMLS’s SAFE Mortgage Loan Originator Test with a score of 75% or higher. This exam is meant to test your understanding of core concepts in mortgage lending. 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 Florida mortgage loan officer, 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: Submit your mortgage license application to NMLS
Once you’ve passed your test and completed your background checks, you’re ready to submit your Florida mortgage license application! To submit your application, head to your NMLS portal to: complete your Individual Form (MU4) and pay your NMLS fees. The cost to submit your mortgage officer license in Florida is: $30 NMLS application fee, a $195 state application fee and a $15 credit report 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, 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 Florida!
Are you looking for mortgage sponsorship in Florida?
If you’ve completed the pre-licensing work and passed the SAFE exam to become an mlo in Florida, 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 getting your MLO license in multiple states?
If you’re an existing mortgage loan officer, you may be interested in getting licensed in multiple states to help you grow your business and find new opportunities. To become licensed in states other than Florida, you’ll need to fulfill the additional education requirements for each state and submit your license application for each state through NMLS.
Morty is licensed in 45 states and can help you quickly get sponsored in multiple states. To help, we compiled mortgage licensing guides for many states including: Georgia, North Carolina, Texas and Ohio.
Joining the Morty platform as an MLO
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.