Get Your Mortgage Loan Originator License in 2022!

 

 

Nebraska Pre-Licensing Bundle

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Obtaining a mortgage license and becoming a Nebraska loan officer is very simple, but it’s not for everyone. It takes a willingness to learn the basic ins and outs of the industry as well as a desire to work hard. The mortgage industry is a great one to get into and it provides a lot of flexibility. If you like to work hard, you are a people person, and you have a desire to learn, becoming a mortgage loan officer is the perfect choice for you.

 

How to Get Your (MLO) Mortgage License in Nebraska

 

	Step 1				Step 2				Step 3
	Get Your NMLS Account and ID Number				Complete Your NMLS Pre-License Education				Pass the NMLS Mortgage Licensing Exam
	Before obtaining your Nebraska mortgage license, you must apply for an NMLS account and ID number. Go to the NMLS website to do this.				After creating your NMLS account, you have to take and complete your pre-license education. Nebraska requires new MLOs to finish 20 hours of NMLS-approved education and 2 hours of state-specific law for a total of 22 hours of instruction.				Once you’ve completed the required education credits, schedule your National Test Component exam. Use this guide to sign up for the SAFE NMLS test.
	Step 4				Step 5				Step 6
	Complete Background Checks and Settle Fees				Apply for Your Nebraska Mortgage License				Associate Your NMLS Account with a Company
	Once you pass the NMLS test, you can now apply for your NMLS license. Before submitting your license application, you must authorize background checks and register your fingerprints with NMLS. Find out how to do all of these here.				Passing results on your NMLS exam allows you to be a licensed MLO in Nebraska. Learn the process of applying for your mortgage license with this guide.				Your Nebraska MLO license remains in a pending status until you have company sponsorship. Your employer submits a sponsorship request to oversee your individual license. Find out how an employer can sponsor your license here.

 

Obtaining an MLO (Mortgage Loan Originator) License in Nebraska

Becoming a mortgage loan officer in Nebraska can be a fulfilling career in the financial services industry. However, the journey to be state-licensed is not an easy path to take. You must be willing and committed to putting in the hours and work to get your MLO license.

 

If you are ready to take on the challenge, you will need all the help you can get. We offer mortgage license courses that meet Nebraska’s education prerequisites, bundling these with a test prep course to give you a leg up in passing the NMLS exam.

 

Start charting your path towards a rewarding, flexible career as a loan officer today by partnering with us.

 

Nebraska Mortgage License Education Requirements

Under the SAFE Act of 2008, all new mortgage loan originators must take 20 hours of NMLS-approved pre-licensure education courses, which should include:

 

• 3 hours of federal law and regulations

• 3 hours of ethics, covering fraud, consumer protection, and fair lending

• 2 hours of nontraditional mortgage lending

• 12 hours of undefined instruction (electives)

 

However, states have different education requisites for mortgage loan officers. In Nebraska, you have to take an additional 2 hours of instruction on state-specific law, bringing the required credit hours to 22.

 

As an NMLS-approved education provider, we bundle both courses into one training to make it easier for you. Once you’ve finished the course, we will report a course completion to the NMLS on your behalf.

 

What’s the Difference Between a Mortgage Broker License in Nebraska and a Loan Officer License?

Most people confuse these two types of licenses with one another. Although both deal with mortgages, they are not the same and should not be used interchangeably.

 

A mortgage broker license is given to a company that offers or assists in obtaining property-secured loans. On the other hand, a loan officer license is issued to individuals authorized to originate mortgage loans for homebuyers. An MLO license becomes active if sponsored by a company with a mortgage broker license.

 

Cost of Getting Your Mortgage License in Nebraska

Below are the fees you have to pay to get your Nebraska mortgage loan originator license:

 

- NMLS Initial Processing Fee: $30

- Credit Report: $15

- Criminal Background Check: $36.25

- Nebraska Application Fee: $150

- Total Application Fees: $231.25

 

However, these exclude the NMLS testing fee of $110 and the cost of enrolling in the required pre-licensure education courses. See what other fees apply to you here.

 

PE Expiration Policy in Nebraska

 

The NMLS Policy Committee established the PE Expiration policy. It is to handle instances in which an individual is required to retake 20 hours of pre-licensing education if they do not get a valid mortgage license within three years of their last date of licensure as a mortgage loan originator.

 

Since Nebraska is currently in pending enactment for said policy, it is currently not enforced but may be implemented in the future.

 

Nebraska Continuing Education Requirements

 

As in other states, Nebraska requires licensed MLOs to renew their licenses every year. To do so, they must complete at least 8 hours of continuing education (CE) courses first before renewal.

 

The courses should include:

 

• 3 hours of federal law and regulation training

• 2 hours of ethics training, including education on fraud prevention, consumer protection, and fair lending problems

• 2 hours of lending standards training for the nontraditional mortgage product marketplace

• 1 hour of state-specific education and training

 

State law prohibits mortgage loan officers from taking the same approved course in the same or successive years to comply with the renewal requirement. Since we revise our curriculum every year, you can always take a new course with us for compliance. We will also submit your CE credit hours to the NMLS website.

 

All licenses expire on December 31, so you have to complete your CE before said date as it takes seven days for course providers to report course completion in the NMLS.

 

 

Get Started on Your Nebraska MLO License

Whether you’re getting a new MLO license or renewing yours, let Mortgage Educators be your trusted provider of NMLS-approved courses. Choose from our Nebraska pre-licensure bundle course or various CE courses to start your journey towards a rewarding career.

 

 

 

Additional Questions?

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