Get Your Mortgage Loan Originator License in 2022!
North Dakota Pre-Licensing Education
Starting at: $349 Now Only $239!
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Obtaining a mortgage license and becoming a mortgage loan originator involves a simple process in which you will need to complete your state-specific education requirements and take and pass a National exam. Once these two steps have been completed, you're well on your way to becoming a licensed Loan Originator!
How to Get Your Mortgage License in North Dakota
Are you interested in becoming a mortgage loan originator (MLO)? The process is straightforward and easy to complete, as long as you follow all the steps outlined in this article. Here’s an overview of the process of obtaining your mortgage license in North Dakota.
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Step 1 |
Step 2 |
Step 3 |
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Apply for an NMLS Account and ID |
Finish Your Pre-Licensure Education |
Take the Mortgage Licensing Exam |
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Obtaining your North Dakota mortgage license starts by registering an NMLS account and ID number at the NMLS website. |
New state-licensed MLOs in North Dakota must complete 20 hours of NMLS-approved education courses. |
Once you’ve completed your education, you’ll need to pass the National Test Component exam. Here’s how you can take the NMLS exam. |
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Step 4 |
Step 5 |
Step 6 |
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Complete the Background Check and Pay the Licensing Fees |
Register for a North Dakota Mortgage License |
Link Your NMLS Account with Your Employer |
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After you pass your NMLS exam, you’ll need to undergo a background check and pay your licensing fees. We’ve provided a guide on how to get your NMLS background checks done. |
You can now finish signing up for your license. Use the NMLS checklist to ensure you include all of the mortgage license requirements in North Dakota. |
Your North Dakota MLO license will remain pending until you get an employer sponsorship. A sponsorship informs the state that an employer is overseeing your license. However, you’ll first need to give your company access to your NMLS account. |
Getting a Mortgage License in North Dakota
Becoming a mortgage loan originator or MLO in North Dakota could be the key to a successful, exciting career with opportunities to build connections and have a secure future. But getting a license takes time, hard work, and commitment.
We aim to make your journey as convenient as possible. We have MLO education course bundles that comply with North Dakota’s licensure credit requirements. The package also includes comprehensive prep tests to gauge further your knowledge and better help you pass your NMLS exam.
North Dakota Mortgage License Education Requirements
North Dakota requires you to first take at least 20 hours of NMLS-approved courses before you can take the licensure exam. The mandatory course hours are as follows:
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3 hours on ethics with instructions on fraud, consumer protection, and fair lending issues
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3 hours on federal laws and regulations
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2 hours on non-traditional mortgage lending training
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12 hours for electives (North Dakota has no required hours for state laws)
To save you the trouble, Mortgage Educators & Compliance has all the mortgage licensure courses you need to satisfy North Dakota’s 20-hour requirement. We provide these courses weekly through online instructors and pre-recorded videos with slideshow presentations. The courses have quizzes and tests as well to help you assess how much you’ve learned. We’ll report your total hours to the NMLS after completion.
What's the Difference Between a North Dakota Mortgage Broker License and a North Dakota Loan Officer License?
Mortgage brokers and mortgage loan officers or originators often get confused with one another. However, mortgage brokers refer to the companies that hire mortgage loan officers. The loan officers are the individuals who are actually responsible for processing mortgages for those applying for a mortgage with the broker.
Cost of Getting Your Mortgage License in North Dakota
Here are the fees you have to pay when getting your North Dakota mortgage license:
- North Dakota Application Fee - $25
- North Dakota License Registration Fee - $50
- NMLS Initial Processing Fee - $50
- FBI Background Check - $36.25
- Credit Report Fee - $15
Your fees will total $176.25, not including the cost of course hour reporting. The reporting fees are included in the bundle price with Mortgage Educators to make everything easier for you. However, you’ll be required to pay the National Component Test fee yourself, which will cost $110.
PE Expiration Policy in North Dakota
The PE Expiration policy was established by the NMLS and requires individual MLOs to retake 20 hours of pre-licensure education if they don’t validate their license within three years from the last of their licensure. However, as North Dakota is still pending enactment, the policy isn’t enforced yet.
North Dakota Continuing Education Requirements
To renew your North Dakota mortgage license, you’ll need to complete at least 8 hours of NMLS-approved education. This includes:
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2 hours on ethics, including instructions on fraud, customer protection, and fair lending issues
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3 hours of federal law and regulations
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2 hours of training non-traditional mortgage lending training
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1 hour of electives
Mortgage Educators also offers CE courses for North Dakota MLOs. We’ll report your hours to the NMLS to ensure that you can still apply for renewal.
Get Started with Your Course Today!
Mortgage Educators & Compliance is here to help you reach your goal of becoming a licensed MLO in North Dakota. Begin your education today by purchasing your online course on our website!
Additional Questions?
Mortgage Educators and Compliance is here to answer any additional questions that you may have in regards to your North Dakota mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.
