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Archive for the ‘Careers’ Category

Careers can be tricky things. A worker can be moving up in their chosen profession and then suddenly find their career stalling. They may be part of a corporate layoff or, worse, see their entire company go down with no one left with a job. At times like these, a complete career change may be in order. Those who are interested in switching to work in the residential mortgage industry need to be aware of the fact that they will need to undergo training in order to obtain a license to handle mortgage loans.

Each state sets its own standards for licensing. Therefore, the first step in pursuing a mortgage loan officer career is to contact the state banking commission or similar entity to find out what the requirements are in that state. Usually applicants will need to pay a licensing fee, complete a detailed application and submit to background checks which will investigate their credit and criminal history.

The main step in getting a license will be successfully completing Loan Officer Training . There are state and federal requirements for the content of this training, so it is important that students check that the company offering the training has been certified or approved by both their state and the NMLS. Depending on the state, they can expect to be required to complete around twenty hours of coursework, which may be taken in a traditional classroom setting or through an online training module. Once the training is completed, they may be asked to take a licensing exam to demonstrate their mastery of the subject matter.