Become a Mortgage Loan Originator
With A PA MLO License

An MLO license is a Mortgage Loan Originator license. The license is issued by the Pennsylvania Department of Banking and Securities. It authorizes a compensated individual to take residential mortgage loan applications and negotiate the terms of residential mortgage loans secured by properties located within the state of Pennsylvania.

Several Pennsylvania MLO license requirements must be met before obtaining a license. 

• Complete the 20 Hour SAFE Comprehensive course and the 3 Hour PA SAFE: Pennsylvania Laws course.
• Sit for the National Mortgage Loan Originator test and pass the exam.
• Pay the required license fees through the Nationwide Multistate Licensing Service (NMLS). Attach the application with details of residency and employment history. 
• Complete fingerprinting to clear criminal background checks by the state and federal agencies.
• Submit a credit report that proves you can take financial responsibility.
• Be covered under an employer’s lending bond or obtain an individual surety bond.

The Pennsylvania Department of Banking and Securities issues an MLO license in Pennsylvania after these conditions are met.

The Pennsylvania Department of Banking and Securities charges a license application fee of $200.

Additional fees of $36.25 are for a FBI criminal background check, a Pennsylvania state police criminal history background check for $22, an NMLS processing fee of $30, and a $15 credit report charge.

There is also the cost of completing an MLO license course in Pennsylvania. The PA MLO pre-licensing courses are offered by RealEstateU for $199.

After completing the NMLS MLO pre-licensing course, you must pay $110 to take the National MLO SAFE test.

The total Pennsylvania MLO license cost works out to $612.25.

Several factors determine the time it takes to get an MLO license in Pennsylvania.

• It takes about two weeks to obtain a unique identification number from NMLS. This period includes time taken for documentation and background checks. 
• The pre-license coursework is 23 hours and this will take 14 days to complete, even if you study at your preferred pace. 
• Schedule and pass the SAFE ACT MLO test.
• Go through the checklist of requirements for new applications located here!
• Next, the Pennsylvania Department of Banking and Securities will review your application and the time for it depends on the number of pending new applications. Typically, the time taken at this stage is thirty to sixty days.

Hence, get an MLO license in Pennsylvania in 2 to 4 months after all the variables given above are considered.

The Pennsylvania MLO license education requirement consists of 23 hours of coursework.  This includes the National 20-hour SAFE Comprehensive course and the 3-hour PA SAFE: Pennsylvania Laws course.

Check out the RealEstateU MLO license course in Pennsylvania by scrolling up to the course packages on this page.

If you act as a mortgage loan originator for pay or other compensation on behalf of a non-depository lender offering residential mortgage loans secured by real estate located in the state of Pennsylvania, you are required to obtain a Pennsylvania Mortgage Loan Originator (MLO) license. Acting as a mortgage loan originator means taking residential mortgage loan applications and/or negotiating the terms of residential mortgage loans.

Independent Contractor mortgage loan processors and mortgage loan underwriters are also required to obtain this license.

Yes. The National 20-hour SAFE Comprehensive course can be taken online as an instructor-led course that is taken over a 14-day period.  The 3-hour PA SAFE: Pennsylvania Laws course can be taken online as an online self-study course.

After completing the RealEstateU pre-licensing coursework, you can apply online for an MLO license through the NMLS. However, you must go to an in-person center to submit your fingerprints and sit for the MLO SAFE ACT test.

An individual who has a Pennsylvania Mortgage Loan Originator license can negotiate residential mortgage loan terms and take residential mortgage loan applications that have as security or collateral residential real estate located in Pennsylvania. In addition to “Mortgage Loan Originator”, some companies have titles such as “Loan Consultant,” “Mortgage Loan Officer,” or simply “Loan Officer" that apply to individuals filing these roles.

Generally, Mortgage Loan Originators work in Pennsylvania on commission. This might be a straight commission, some sort of draw against future commissions arrangement, or perhaps as salary plus commission.

Pennsylvania MLO employers who hire entry level mortgage loan originators understand that training and building a “pipeline” of business takes some time, so they may pay an initial salary.

Some jurisdictions in PA require general licenses for any business operating there. To get a license, register your business with the Pennsylvania Department of State, Corporation Bureau.

Starting an independent mortgage brokerage business in Pennsylvania will require that you complete the process of obtaining a PA Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.

Pennsylvania is the 5th most populous US state with a population of nearly 13 million. Hence, there will always be a high demand for housing, leading to a need for residential mortgage loans. The sheer size of the residential housing market makes Pennsylvania a great place for the mortgage business.

First, think about your career goals before searching for a company in Pennsylvania to join as a Mortgage Loan Originator. 

Do you want to be a neighborhood lender, developing your source of business within a community or network? Or do you prefer the pace of a volume-driven phone bank where numerous leads crop up every day? 

After deciding on this aspect, search for and find MLO employers that fit your MLO career goals.