Do I need a license to work as a mortgage loan processor?

It depends on how you work. A supervised loan processor who performs clerical or support duties at the direction of a state-licensed or registered loan originator is not required to be licensed. An independent-contractor loan processor or underwriter must be a state-licensed loan originator, under 12 U.S.C. 5103 and its implementing regulation, 12 CFR 1008.103.

It depends on how you work in California. Independent-contractor loan processors and underwriters must obtain and maintain a mortgage loan originator (MLO) endorsement under Business and Professions Code 10166.03. Department of Real Estate (DRE) guidance adds that an independent processor must hold a real estate broker license with the MLO endorsement. Employees performing purely administrative or clerical tasks are excluded and need no endorsement.

It depends on how you work. A loan processor or underwriter who is an independent contractor must obtain and maintain an MLO license in Delaware. An employee processor or underwriter who works at the direction and under the supervision of a licensed lender or mortgage loan broker does not need an individual license.

It depends on how you work. Independent contractor loan processors and underwriters in DC must hold a mortgage loan originator license (D.C. Code § 26-1101(5A)). An individual who performs only loan processing or underwriting activities, and does not hold themselves out to the public as able to perform MLO activities, is exempt from licensure under D.C. Code § 26-1103.

Only in some cases. An in-house loan processor must be an employee of one mortgage broker or mortgage lender and work under the supervision of a licensed loan originator. A contract loan processor who contracts with more than one broker or lender must hold a loan originator license and file Form OFR-494-13, a declaration of intent to act solely as a loan processor, with the Office of Financial Regulation.

It depends on how you work. Employee loan processors who perform their duties under the direction and supervision of a person licensed or exempt under Chapter 454F do not need a license. All underwriters and loan processors who act as independent contractors must be licensed as mortgage loan originators.

It depends on the work arrangement. An employee loan processor or underwriter who performs only clerical or support duties is exempt from MLO licensure. A loan processor or underwriter who is an independent contractor must obtain and maintain a mortgage loan originator license.

It depends on how you work. New York requires an MLO license for independent-contract processors and underwriters engaged on 1-4 family residential mortgage property in the state. A W-2 employee who only takes customer information and refers borrowers to others does not need the license, and employees who merely assist a registered broker or licensed banker are not subject to the company registration provisions.

You need an MLO license to work as a loan processor only if you work as an independent contractor. Under North Dakota Century Code 13-10-03.3, an independent-contractor loan processor or underwriter must obtain and maintain a mortgage loan originator license. Employee processors and underwriters who perform clerical or support duties under supervision are not considered MLOs, so they do not need the license.

Wyoming requires a license only from individuals who, for compensation, take a residential mortgage loan application or offer or negotiate the terms of a residential mortgage loan for a Wyoming dwelling. A loan processor who does not take applications or negotiate terms falls outside that definition. If you begin performing those activities, you must be licensed as a mortgage loan originator.