Step-by-Step Licensing Guide
Applicants for the Mortgage Loan Originator License (MLO), must complete these steps:
(CLICK HERE to view these steps on our website)
Step 1: Obtain your Unique Identification Number with NMLS
Creating an account with NMLS (Nationwide Mortgage Licensing System) only takes a few minutes. After creating your account, NMLS will notify you by email with your Unique Identification Number. Click below to do this now.
View the “How to Create an NMLS Account - USER GUIDE" for assistance.
Step 2: Application
Application
- SUBMIT THE MU4 APPLICATION: Loan Originator applicants must submit the "Uniform Individual Mortgage License/Registration & Consent Form," also known as the MU4 APPLICATION on the NMLS website.
View the “MU4 Filing Instructions - USER GUIDE” for assistance.
- FEES: You must pay a $195 nonrefundable application fee and a $20 nonrefundable Mortgage Guaranty Trust Fund fee when you apply.
- CERTIFICATION: If you have a current and valid Florida Mortgage Broker License as of September 30, 2010, you can have your previous mortgage education “Certified”. “Certified” is the NMLS term for “grandfathering”. You may also have the Florida Specific Test "Certified" if you were licensed on or after January 1, 2004. In order to get your previous mortgage education and Florida Test “Certified”, you must apply for the MLO license between October 1, 2010 and November 30, 2010. If you do not apply during this time period, you will be required to complete the 20 Hour SAFE Comprehensive Course and the Florida Specific Test.
Certification fees:$15 for the Education and $5 for the State Test.
View the "Education and State Test Certification - USER GUIDE" for assistance.
- CREDIT REPORT: You are required to authorize a credit report with the submission of your MU4 Application. However, this will not be available until after October 30, 2010.
View our "NMLS FAQ" for more information about the credit report.
- FINGERPRINTS and CRIMINAL BACKGROUND CHECK: You are required to have your fingerprints scanned electronically at an NMLS-authorized fingerprint vendor and you must also request a Criminal Background Check (CBC) with the submission of your MU4 Application. The cost of the CBC is $39.
View the "Submitting a CBC - USER GUIDE" for assistance.
Step 3: Complete the 20 Hour SAFE Comprehensive Course
The 20 Hour SAFE Comprehensive Course is the required pre-licensing education for Mortgage Loan Originators as mandated by the 2008 SAFE Act. Classes are available in Fort Myers and Naples -- our online course will be available soon. CLICK HERE to view our course information.
Exception:
If you have a current and valid Florida Mortgage Broker License as of September 30, 2010, you can have your previous mortgage education (either pre-licensing or continuing education) “Certified” for this requirement. “Certified” is the NMLS term for “grandfathering”. In order to get your previous mortgage education “Certified”, you must apply for the MLO license between October 1, 2010 and November 30, 2010. If you do not apply during this time period, you will be required to complete the 20 Hour SAFE Comprehensive Course.
Step 4. Pass the SAFE Act Tests
You are required to take and pass the SAFE Act Tests – the National Component and the State Specific Component for each state you wish to originate in. Our recommendation is to complete the National Component first and then the State Specific Component.
National Component Test
- TEST ENROLLMENT: First you must create a TEST ENROLLMENT on the NMLS website. You will pay the $92 testing fee to NMLS upon the enrollment. Creating the enrollment is what will give you permission to schedule the test. It typically takes about 24 hours after creating your test enrollment to be given access to schedule the exam.
View the “How to Enroll in an NMLS Test - USER GUIDE” for assistance.
- SCHEDULE YOUR NATIONAL TEST: 24 hours after creating your test enrollment, you will be able to SCHEDULE YOUR TEST. The test is given by 2 different companies, PearsonVUE and Prometric, and the one you use will be based on the city in which you wish to take your test.
View the "MLO Testing Handbook" for assistance.
- PASS THE NATIONAL TEST: Preparation is the key to success on the SAFE Mortgage Loan Originator Test - National Component. Our exam preparation courses and products are comprised of highly focused exam content based upon comprehensive research and testing to help you pass the test.
View our National Exam Preparation Courses and Products.
State Specific Component Test
- TEST ENROLLMENT: First you must create a TEST ENROLLMENT on the NMLS website. You will pay the $69 testing fee to NMLS upon the enrollment. Creating the enrollment is what will give you permission to schedule the test. It typically takes about 24 hours after creating your test enrollment to be given access to schedule the test.
View the “How to Enroll in an NMLS Test - USER GUIDE” for assistance.
- SCHEDULE YOUR STATE SPECIFIC TEST: 24 hours after creating your test enrollment, you will be able to SCHEDULE YOUR TEST. The test is given by 2 different companies, PearsonVUE and Prometric, and the one you use will be based on the city in which you wish to take your test.
View the "MLO Testing Handbook" for assistance.
- PASS THE STATE SPECIFIC TEST: Preparation is the key to success on the SAFE Mortgage Loan Originator - Florida Specific Test. Our exam preparation courses and products are comprised of highly focused exam content based upon comprehensive research and testing to help you pass the test.
View our Florida Specific Exam Preparation Courses and Products.
Step 5: View your Status
Criminal Background Check Status
During your license approval process, you can view the status of an existing Criminal Background Check (CBC) request or retrieve a copy of your CBC Certificate.
View the "Criminal Background Check Status - USER GUIDE" for assistance.Application Status
You may view the status of your MU4 Application and review any deficiencies that your state regulator has set. A deficiency is placed by the state regulator to notify you of any missing information that is still required in order to issue a licensing decision.
Each time the status is updated by the Regulator in NMLS, you will receive a system generated email indicating the status change.
View the "License Status and Deficiencies - USER GUIDE" for assistance.For further assistance, please contact Larson Educational Services, NMLS Approved Provider ID: 1400171, at 239.344.7510 or email info@LarsonEd.com
Larson Educational Services
1400 Colonial Blvd, Suite 44
Fort Myers, FL 33907
(239) 344-7510
www.LarsonEd.com
