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Iowa Pre-Licensing Education

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How to Get Your Mortgage License in Iowa

The Advantages of an Iowa Mortgage License

Being a mortgage loan officer is a satisfying and lucrative career. Are you a people person? You’ll enjoy connecting with people who are excited to work with you. You’ll help them when they’re either walking on air from getting a new home or frustrated with the process. You can make it even better for them.

This career is only possible with an MLO Iowa license. Is it hard to find 20 hours to take classes, plus additional time to take an exam and fill out paperwork? Don’t worry, because our education bundles will help you use your time efficiently. Take our practice test to ensure you pass. With Mortgage Educators, you’ll be ready.

Iowa Mortgage License Education Requirements

Your 20 hours of approved classwork will take you through:

• 3 Hours: Ethics issues, such as fair lending, fraud, and consumer protection

• 3 Hours: Federal regulations

• 2 Hours: Non-standard mortgages

• 12 Hours: Elective topics

An education package deal from Mortgage educators will help you understand each topic and check them off efficiently. Get ready for your test confidently.

What's the Difference Between an Iowa Mortgage Broker License and an Iowa Loan Officer License?

These sound like the same license, don’t they? But brokers are usually defined as employers or firms, and they need a separate mortgage broker license in Iowa. You, though, will be a mortgage loan officer (MLO), and you might work for a mortgage broker. You’ll need an individual Iowa MLO license.

Cost of Getting Your Mortgage License in Iowa

Here’s the small investment you’ll make in fees during the application process:

- $30: Initial NMLS Processing

- $50: Registration

- $15: Credit Report

- $36.25: FBI Background Check

PE Expiration Policy in Iowa

At the national level, the NMLS has a policy governing your pre-license education. In general, you can lose the credit for completing classes under these two conditions:

- You stopped renewing your license for 3 years or longer OR

- You never applied for your license and then let 3 years pass

This policy is in force in the State of Iowa. Your ideal course of action will be to complete your classes, pass your exam, and immediately apply for your Iowa MLO license.

Iowa Continuing Education Requirements

Many professionals renew their licenses every year or two years, such as insurance officers and physicians. For MLOs, this is an annual process that ensures your knowledge is current and sharp. Your 8 hours of approved education will include:

• 3 Hours: Ethics

• 3 Hours: Federal regulations

• 2 Hours: Non-standard mortgages

• 1 Hour: Electives

Be sure to get your renewal submission sent in before December 1 of each year. You’ll owe a $50 renewal fee. If you miss the deadline and need your license reinstated instead, the deadline is February 28, and the fee jumps to $150. There is also a $30 processing fee.

Start Your Iowa Loan Officer License Education Today

Let’s get you on the road to financial success in a satisfying career. Get your first license with a Mortgage Educators bundle, or come to us for license renewal help. We’ll help you check off the steps efficiently. Click above to get started.

Additional Questions?

Mortgage Educators and Compliance is here to answer any additional questions that you may have in regards to your Iowa mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.