Get Your Mortgage Loan Originator License in 2022!
Connecticut Education Bundle
Starting at: $399 Now Only $259!
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How to Get Your (MLO) Mortgage License in Connecticut
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Step 1 |
Step 2 |
Step 3 |
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Apply For Your NMLS Account and ID Number |
Complete Your NMLS Pre-License Education |
Need to Pass the SAFE MLO National Test |
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The first step to obtaining your Connecticut mortgage license is applying for an NMLS account and ID number. To do so, go to the NMLS website. |
Connecticut requires new state-licensed MLOs to complete 21 hours of NMLS-approved education. This includes 3 hours of Federal law, 3 hours of ethics, 2 hours of non-traditional mortgage lending, 12 hours of electives, and 1 hour of Connecticut specific law. |
With your education complete, you need to schedule an appointment for the National Test Component exam. Find out more on how to take your NMLS test here. Also check out the NMLS MLO testing handbook. |
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Step 4 |
Step 5 |
Step 6 |
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Complete Background Checks and Pay All Fees |
Apply for Your Connecticut Mortgage License |
Associate Your NMLS Account with Your Employer |
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To finalize your application and receive your license, you will need to pay several non-refundable fees and get a background check. Find out more about how to complete your background check here. |
After receiving a passing score on your NMLS mortgage exam, you need to apply for your Connecticut mortgage loan originator license. You can find more information on this step here. |
You won’t be fully licensed in Connecticut until you have an employer sponsorship, which lets the government know that an employer is supervising your individual license. Learn how to associate your NMLS account with your employer here. |
Frequently Asked Questions
Connecticut Mortgage Licensing Requirements
The specific steps on how to become a mortgage broker in Connecticut can be confusing, but we're here to help. Connecticut requires 20 hours of NMLS approved mortgage education, and an additional 1 hour Connecticut state law and rules course. Mortgage Educators & Compliance offers the both of these courses in a low price bundle of $259 that includes both education required courses and a comprehensive test prep to help you score well on the NMLS National Test with UST component.
Pre-license mortgage education requirements can be fulfilled in one of three ways; with an online instructor-led course, via a live webinar, or in a live classroom. Mortgage Educators provides these courses in all three available formats. We find that the majority of new loan officers elect for the flexible Online Instructor-Led (OIL) format, which consists of pre-recorded video lectures supported by slideshow presentations, and quizzes that ensure content retention. As you complete your Connecticut mortgage licensing requirements, we will report all completed hours of education to the NMLS.
Connecticut Mortgage Broker License VS. Connecticut Loan Officer License
Mortgage broker licenses are commonly confused with the more common loan officer license. While the terms mortgage broker, loan officer, and mortgage loan originator are similar, they aren’t synonymous. So what’s the difference?
Generally speaking, a mortgage broker is a company that employs mortgage loan officers, whether that mortgage broker is in Connecticut or any other state. The loan officers are employed by the broker to originate loans for home-buyers when they are looking for a loan for their mortgage.
PE Expiration Policy in Connecticut
PE Expiration is a policy that was created by the NMLS Policy Committee that addresses situations in which an individual is required to retake 20 hours of pre-licensure education if they fail to acquire a valid mortgage license within three years from the last date of licensure as a mortgage loan originator. Connecticut has enacted their PE expiration policy which means it is enforced.
Cost of Getting Your Mortgage License in Connecticut
When you’re ready to get your NMLS license in Connecticut, be prepared to pay the following fees:
$300 - License Fee
$30 - NMLS Processing Fee
$15 - Credit Report
$36.25 - Background Check
Additional Questions?
Mortgage Educators and Compliance is here to answer any additional questions that you may have in regards to your Connecticut mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.
