Your guide to becoming a licensed MLO in Florida

By Ciprian Morariu Published: January 17, 2025

Your guide to becoming a licensed MLO in Florida

Becoming a mortgage loan originator can be a rewarding and fulfilling career path, especially if you are someone who wants financial independence with a healthy work-life balance. 

Due to the growing need for housing and residential real estate, the need for skilled professionals in the mortgage lending industry is rising in tandem. 

As per the data reported by the Bureau of Labor Statistics in the U.S., the demand for licensed mortgage loan originators (MLOs) is growing with emerging job opportunities. 

Estimates from job boards and employment sites reveal that the average salary of a licensed loan originator in Florida can reach as high as $150K annually. 

Even as a new entrant in the industry, you can earn around $60K to $70K while working in a dynamic and diverse industry. 

Imagine earning a six-figure income while helping people achieve their home ownership goals and dreams. 

This means now is a good time to plan your career and enter the industry with a license to make the most of the exciting job opportunities for loan originators. 

A career in the mortgage lending industry can offer a high-income potential, promising growth and promotion opportunities, flexible working hours, and emotional fulfillment. 

If you want to work as a mortgage loan originator and embark on a career, you must first obtain a license. 

Like most states, In Florida, you are required to complete a set of qualifying requirements to become eligible for a license. 

Since the mortgage lending industry is heavily regulated and based on a set of laws, rules, and regulations, it is mandatory that you meet all the prerequisites required for a license. 

Only licensed professionals are allowed to work with clients, assist them in getting a mortgage, and earn commissions. 

This is why if you want to build a thriving career, getting a license is an essential step that must be completed. 

To help you get started, we have put together this article which covers all the key aspects of how to become a mortgage loan officer in Florida successfully. 

Before we dive deeper into the state-specific licensing requirements, let us walk you through the basics of a career as a mortgage loan originator and what it entails. 

What does a mortgage loan originator do

As a mortgage loan originator, your key job responsibility is to help borrowers obtain mortgage financing for purchasing a new home or refinancing an existing one. 

Mortgage loan originators (MLOs) are licensed professionals who are employed by financial institutions such as banks, credit companies, and private lenders. 

You will act as a single point of contact for individuals who want to seek your advice and guidance in obtaining mortgage financing. 

MLOs are responsible for performing many tasks and duties, based on their skill level, experience, employer’s discretion, and client needs. 

If you are preparing for a career in Florida’s mortgage lending industry, you must learn about the typical duties and tasks you will be expected to perform as part of the job profile. 

Let’s take a look at some of the commonly performed job responsibilities assigned to a MLO: 

  • Meeting with potential clients and responding to their queries and inquiries via text, email, or phone calls. 
  • Collect the required finance and personal information and documentation of individuals who are applying for a mortgage loan.
  • Evaluating the needs, requirements, and financial health of applicants on the basis of their income, financial background, and creditworthiness. 
  • Assessing the eligibility of individuals to obtain a mortgage and qualifying them on the basis of their financial history and credit score. 
  • Consulting with clients and guiding them through the different steps and stages of getting a mortgage.
  • Providing clients with the most appropriate and relevant mortgage options and interest rates while resolving their doubts and concerns. 
  • Educating clients about the different types of mortgage loan plans, packages, and interest rates and guiding them about loan payment terms. 
  • Assisting clients in choosing, comparing, and finalizing the right mortgage plan and terms based on their needs and goals.
  • Helping clients with completing the required paperwork to submit a mortgage loan application to a lender. 
  • Working with underwriters to speed up the financing process and ensure seamless disbursement of funds. 
  • Ensuring compliance with the state and federal laws, rules, and regulations while completing and submitting the required paperwork and documentation. 
  • Keeping your clients updated about the application status and key milestones while answering their queries.  
  • Educating clients about auxiliary financial services and products offered by lenders for additional needs. 
  • Maintaining records of all the documentation, records, paperwork, and transaction details for your employer. 

As evident, the job profile of a loan officer offers a mix of administrative, customer service, promotional, and regulatory duties. 

This is why getting licensed is crucial for preparing for the job and adhering to the various state and national requirements. 

If you are wondering how to get a MLO license in Florida then we are going to dive deeper into the requirements and steps in the next sections of this article. 

Wondering how long it takes to obtain a license and become a working professional? Typically, it takes most students around 60 days to complete all the licensing requirements. 

How to obtain a Mortgage Loan Originator License in Florida

Getting a license is crucial to starting your career in the mortgage lending industry of Florida and if you want to make yourself employable, then you must consider it seriously. 

First and foremost, you must learn about the NMLS and its role and purpose in the mortgage lending industry in the country. 

The NMLS is the official authority and regulatory body that oversees the licensing process for mortgage lending professionals and firms across 50 states. 

Like other states, Florida also follows the Nationwide Multistate Licensing System (NMLS) protocol for issuing and renewing licenses to industry professionals. 

If you are an aspiring mortgage loan originator in Florida, you must meet and fulfill all the NMLS requirements for getting licensed. 

Let’s start with the preliminary eligibility requirements which also determine whether an individual is fit to apply for a license or not. 

At the basic eligibility level, you must meet the following requirements and criteria: 

  • Be at least 18 years of age or older
  • Be a legal resident of the United States or a lawfully residing alien
  • Have a high school diploma in education or GED equivalent

Note that some employers might also require individuals to hold a bachelor’s degree in business, accounting, or finance to work as a loan originator. 

If you qualify for the above criteria, you need to register with the NMLS and create your account by obtaining a unique NMLS identification number. 

If you meet the above statutory requirements, the next step is to complete the NMLS pre-license education requirements. 

Florida Mortgage License Education Requirements

To work with clients and ensure their goals and needs are met in a professional manner, you must equip yourself with the knowledge and training required for the job. 

Mortgage loan originators manage multiple tasks and duties as part of their job - doing this requires a certain education about their job profile, industry laws, regulations, and standards. 

You must also learn about industry terminology and concepts such as mortgage and license laws, loan terms, interest rates, underwriting, and various procedures and practices. 

To deliver professional service that is compliant with the NMLS guidelines and standards, it is essential to complete a minimum of 20 hours of pre-license education in Florida. 

As part of your mandatory Florida NMLS education and training, you will complete essential courses such as:

  • Non-traditional mortgage lending (2 hours)
  • Federal law and regulations (3 hours) 
  • Ethics (3 hours)
  • Florida-specific laws and regulations (2 hours)
  • Elective courses (10 hours)

It is recommended to check with the most recent and latest mortgage education requirements in Florida. 

You can choose to complete the pre-licensing education by joining a physical, classroom-based college, or by enrolling in an online, self-paced, or instructor-led prep course. 

For most students and learners, online NMLS courses in Florida are a convenient and practical way to complete mandatory education at their own pace from anywhere.

Irrespective of your preferred medium of learning, it is important that you choose an NMLS-approved pre-license education provider in Florida to complete your course credits.  

Passing the NMLS licensing exam in Florida

After completing Florida NMLS pre-license education, your next task is to take the SAFE MLO licensing exam in Florida

Under the Secure and Fair Enforcement (SAFE) Act, all aspiring professionals must pass the MLO licensing exam to obtain their respective licenses. 

Passing the licensing exam in Florida is an essential and crucial step in your licensing journey and one which you must prepare for with sincerity. 

The SAFE MLO licensing test consists of 120 multiple-choice questions which cover both state and national-specific questions to test your knowledge and preparation. 

You can expect to face questions based on general mortgage and lending principles, and topics related to consumer rights, ethics, and fair lending. 

The licensing test will also ask you questions covering the various license laws and Florida-specific rules and regulations. 

You need to pass both the state and national-specific portions of the test by scoring at least 75% or above to obtain a  Florida mortgage license. 

To schedule the MLO licensing test in Florida, you can log in to the NMLS website and choose a suitable date and time through your NMLS account. It will cost you $110 for an attempt. 

Completing background verification for a MLO license

The NMLS has established strict background verification and criminal history check requirements which are applicable for all individuals. 

The SAFE Act requires that every aspiring loan originator must meet the minimum standards for honesty, integrity, and truthfulness while bearing a good moral character. 

To obtain your MLO license in FL, you must clear the background check by providing information such as an electronic scan of your fingerprints and a credit report. 

It will cost you a one-time fee of $36 to get your fingerprint scan and $15 to get the latest credit report. 

You need to submit the documents on the NMLS website through your NMLS account. 

After you have completed the pre-license education, passed the MLO licensing test, and cleared the federal background check successfully, you can submit your MLO license application for review and approval. 

Along with your application, you will have to submit a MU4 form for state licensing and you can do it through your NMLS account. 

If your documents and application are verified and approved by the NMLS, you will receive your FL MLO license within a few weeks.