What are the responsibilities of a mortgage loan officer assistant?
An assistant handles clerical and support duties at the direction of a licensed loan originator, such as gathering financial documents, verifying application information, and passing files to underwriting. Federal law draws a clear line: purely administrative work does not require a license, but if the assistant takes residential mortgage loan applications or offers or negotiates loan terms for compensation, the assistant must become a state-licensed loan originator.
California draws the line by the tasks performed, not the job title. An employee who performs purely administrative or clerical tasks is excluded from the mortgage loan originator definition. An independent contractor who works as a loan processor or underwriter must hold a real estate license with an MLO endorsement, under Business and Professions Code 10166.03.
Sources: California DRE: MLO License Endorsement Information; California DRE: How to Obtain a Mortgage Loan Originator License (RE 19).
A loan officer assistant performs only administrative or clerical support duties, at the direction of and under the supervision of a licensed mortgage loan originator. Under Montana law (32-9-104, MCA), an employee who performs only these duties is exempt from mortgage loan originator licensing. An assistant who works as an independent contractor rather than an employee must instead hold a Montana Independent Contractor License or Mortgage Broker License.
Sources: MCA 32-9-107: Prelicensing education requirements for mortgage loan originators; ARM 2.59.1752: State-specific prelicensing education.