What should I do after passing the MLO license exam?

After passing, complete your 20 hours of NMLS-approved pre-licensing education if you have not already, because the 20 hours must be finished before you can submit a license application. Then file the Individual (MU4) Form through NMLS with fingerprints for the FBI background check and a credit report authorization, and have your employing company submit a sponsorship request, which the state regulator must approve before your license becomes active.

After passing the SAFE MLO test, you file the Individual Form MU4 through NMLS, submit fingerprints for the FBI background check, authorize a credit report, and pay the $75 Alabama license fee plus the $35 NMLS set-up fee. Your employer must also submit a sponsorship request. Alabama will not approve the license while the application lacks company sponsorship.

After passing the National Test Component with Uniform State Content, you file the MU4 application through the Nationwide Multistate Licensing System (NMLS). Your employer must submit a sponsorship request, and the sponsoring Mortgage Broker/Lender must hold an active Alaska license, or your application may be abandoned. You must also authorize a credit report, complete identity verification, and pay the $250 application fee plus the $350 license fee.

After passing the SAFE MLO test, submit Form MU4 through NMLS, the Nationwide Mortgage Licensing System. Arkansas requires the test and your 20 hours of prelicensing education to be complete before you file. Your employer must then submit a sponsorship request that the Arkansas Securities Department accepts. You must also upload a credit-report explanation letter, a remote work agreement, and explanations for any disclosure questions answered "Yes".

After passing the test, submit your individual license application (Form MU4) through the Nationwide Multistate Licensing System & Registry (NMLS), if you have not already done so. Hawaii charges a $600 application fee and a $200 Mortgage Loan Recovery Fund fee at licensure, and you must submit fingerprints for state and federal background checks and authorize a credit report. If no licensed mortgage loan originator company sponsors you, the license is issued as Approved-Inactive and you cannot originate loans.

After passing the SAFE MLO Test, you file the MU4 application in NMLS, authorize an FBI background check and a credit report, and pay the $50 Kentucky registration fee plus the NMLS processing fee. If you are not covered by your employer's surety bond, you upload an individual bond ($15,000 for annual loan volume under $10 million, $20,000 at or above). Your employer must also submit a sponsorship request, which the Kentucky Department of Financial Institutions reviews before your registration becomes active.

After passing the SAFE test, you file your license application through the Nationwide Multistate Licensing System (NMLS), using the form prescribed by the Maine Bureau of Consumer Credit Protection. The filing includes your fingerprints for a criminal background check and your authorization for an independent credit report. Your employer then submits a sponsorship request in NMLS. Without a sponsoring employer, Maine can issue the license as Approved-Inactive until sponsorship is acquired, or you can post your own $25,000 surety bond.

After passing the test, you apply for the license through the Nationwide Multistate Licensing System (NMLS). The application includes the $400 nonrefundable fee, fingerprints for an FBI criminal background check, and authorization for an independent credit report. You must also be sponsored by a Montana-licensed company, and Montana law requires mortgage loan originators (MLOs) to be W-2 employees. The state Division of Banking and Financial Institutions usually decides within one week to 10 days, and it does not issue paper licenses; you verify licensure through NMLS Consumer Access.

After passing the SAFE test, you finish your licensing file in NMLS. You submit the Mortgage Loan Originator (MU4) application, pay the $150 Nebraska Department of Banking and Finance fee plus NMLS processing fees, authorize the criminal background check and credit report, and upload the citizenship attestation form. Your employer must also submit a sponsorship request, because Nebraska cannot approve a license without company sponsorship.

After you pass the SAFE MLO test, you must secure employment with, or a job offer from, a Nevada mortgage company. Grant the employer access to your NMLS record so it can submit a sponsorship request, then file the Form MU4 through NMLS with the required fees, fingerprints, and credit authorization. Nevada cannot issue the license without valid sponsorship from a Nevada-licensed location.

After passing the national test, submit Form MU4 through NMLS, pay the $80 Oregon application fee plus the $35 NMLS processing fee, and complete the FBI background check and credit report. Your employer must then file a sponsorship request in NMLS; the Division of Financial Regulation reviews applications in the order received, so allow two to four weeks. Without sponsorship, the license is issued as inactive and you may not originate loans.

After passing the SAFE test, you file the MU4 application through NMLS, submit fingerprints for the national criminal background check, authorize a credit report, and pay the $50 filing fee. Your employer must submit a sponsorship request before the state agency will approve the license. Under the South Carolina Board of Financial Institutions, the application will not be approved unless an approved mortgage lender or servicer sponsors you.

After passing the written test, submit your license application through the Nationwide Multistate Licensing System (NMLS) and pay the initial fee, which may not exceed $250. You must also furnish fingerprints for an FBI criminal history check, authorize the Division of Banking to obtain an independent credit report, and satisfy the surety bond requirement of at least $25,000 (or use your employer's bond if you are an employee or exclusive agent).

After passing the national exam, you submit the MU4 application through the Nationwide Multistate Licensing System (NMLS), authorize a criminal background check and credit report, and answer the disclosure questions. Your employer must then submit a sponsorship request, which the Utah Division of Real Estate accepts or rejects. If you are not yet employed by a mortgage company, the license may be issued as Approved-Inactive, and you may not conduct business until sponsorship is accepted.

After passing, you complete the remaining requirements: 24 hours of approved prelicensing education, an MU4 application through the Nationwide Mortgage Licensing System and Registry (NMLS) with a $200 state fee plus fingerprint and NMLS processing costs, fingerprints for an FBI criminal history check, and a credit report authorization. Your sponsoring employer must submit its sponsorship request through NMLS at the time of the license request, and the employer's surety bond can cover you in place of an individual bond.

After passing the SAFE test with a score of at least 75%, you file the Form MU4 application through the Nationwide Multistate Licensing System & Registry (NMLS), which includes a criminal background check ($36.25) and a credit report ($15). Wisconsin will not approve the application until your employer submits a sponsorship request through NMLS, so you must have a sponsoring mortgage banker or mortgage broker. Your assigned office must be your residence or within 100 miles of it.

After passing the test, you complete the license application (Form MU4) through the Nationwide Multistate Licensing System (NMLS) website. You must provide fingerprints for an FBI criminal background check, authorize a credit report, and have your employer or contracting company submit a sponsorship request. The Wyoming Division of Banking charges a $150 fee, which includes NMLS processing, and may issue the license as Approved-Inactive if no sponsor has requested you yet.