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How to Get Your Mortgage License in Pennsylvania
Are you wondering how to become a loan officer in Pennsylvania? Here’s a step by step guide to help obtain your NMLS license in Pennsylvania.
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Step 1 |
Step 2 |
Step 3 |
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Get an NMLS Online Account and ID Number |
Complete Required PA MLO License Classes |
Take and Pass Your NMLS Mortgage Licensing Exam |
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To start the process of getting your NMLS license in PA, sign up for an online NMLS account, getting an ID number. |
To obtain a PA NMLS license, you must take 20 hours of NMLS-approved classes on general mortgage originator topics, which includes 3 hours of classes focused on Pennsylvania. |
When your classes are completed satisfactorily, set up an appointment to take your National Test Component exam. Explore the process here. Also take a look at the NMLS MLO testing handbook. |
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Step 4 |
Step 5 |
Step 6 |
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Submit to Criminal Background Checks and Fingerprints |
Complete a Pennsylvania Mortgage License Application |
Coordinate Your NMLS Account With Your Employer |
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If you have passed your PA loan officer license exam, the next step is to complete background checks. See how here. |
After receiving a passing score on your NMLS mortgage exam, you need to apply for your PA NMLS license. You can find more information on this step here. |
To get your mortgage license out of the pending status, you must connect your online NMLS account with your employer sponsorship. Learn to complete this process here. |
The Benefits of an NMLS License in PA
Working under a PA loan officer license will connect you with fascinating and successful individuals who live in your community. You will be the one helping them in a major turning point in life: buying a home or other property. Be prepared for a career of constant learning and serving a variety of people.
It may seem like there are many hurdles to getting your PA NMLS license. But we are experienced in making it simple for motivated individuals like you. You can get an education bundle from us that takes you through your 20 hours of required education systematically. You can also take a practice test to know that you’re truly prepared. Mortgage Educators is committed to helping you enter an exciting, lucrative career.
Pennsylvania Mortgage License Education Requirements
Your mortgage license pre-application classes will include:
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3 hours of fraud, ethics, fair lending, and consumer protection
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3 hours of Federal regulations and laws
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2 hours of non-traditional lending
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9 hours of electives
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3 hours focused on Pennsylvania law
You can complete all education in a convenient bundle from Mortgage Educators. This also includes a thorough test preparation section that can help you raise your score on your NMLS National Test.
What's the Difference Between a Pennsylvania Mortgage Broker License and a Pennsylvania Loan Officer License?
A mortgage broker in Pennsylvania is often an employer organization with a mortgage broker license. In contrast, individuals who work as loan officers, often for a broker, obtain PA loan officers licenses that they coordinate with their employer to show they are being sponsored or supervised.
Cost of Getting Your Mortgage License in Pennsylvania
The non-refundable fees you will pay to the NMLS include:
- Registration Fee and NMLS Processing Fee: $230 total
- Credit Report: $15
- Criminal Background Check: $36.25
PE Expiration Policy in Pennsylvania
The general PE expiration policy states that you must repeat your 20 hours of education if you let your NMLS license lapse for more than 3 years, either by leaving the industry for that time or never applying for your initial license. As of this writing, this is not yet enforced for NMLS licenses in PA.
Pennsylvania Continuing Education Requirements
You have to renew your PA NMLS license every year to keep working as a loan officer. In Pennsylvania, that means you will take 8 hours of continuing education courses, split between:
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3 hours of federal regulations
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2 hours of ethics
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2 hours of non-traditional mortgage lending
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1 hour of PA-focused law and issues
Your renewal application is due by December 31 each year and must include a $100 renewal fee and a $100 reinstatement fee. You should aim to get your renewal application approved between November 1 and December 31; however, if your application is submitted but still pending on December 31, you can still work on January 1 and beyond while you wait.
Start Your PA Loan Officer License Education Today
Mortgage Educators offers convenient education bundles for you if you are pursuing your initial license or a renewal. Start the process of getting your license for an exciting career today.
Additional Questions?
Mortgage Educators and Compliance is here to answer any additional questions that you may have in regards to your Pennsylvania mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.
