Get Your Mortgage Loan Originator License in 2022!
WA Pre-Licensing Bundle
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How to Get Your (MLO) Mortgage License in Washington
1. Apply for your NMLS Account and ID Number
The first step to obtaining your Washington mortgage license is applying for an NMLS account and ID number. To do so, go to the NMLS website.
2. Complete your NMLS Pre-License Education
Once you've created your NMLS account, it's time to complete your pre-license education. Washington requires 22 hours (18 hours & 4 hours elective) SAFE pre-licensure education.
3. Need to Pass the NMLS Mortgage Licensing Exam
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 exam here.
4. Complete Background Checks and Pay All Fees
To finalize your application and receive your license, you'll need to pay several non-refundable fees and complete a background check. Find out more about how to complete your background check and fingerprints here.
5. Apply for your Washington Mortgage License
After receiving a passing score on your NMLS exam, you need to apply for your Washington NMLS license. You can find more information on how to apply here.
6. Associate your NMLS Account with your Employer
Your mortgage license will be in a pending state in Washington 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.
Earn Your Washington Mortgage License
Obtaining a mortgage license and becoming a Washington 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.
Fortunately, Mortgage Educators is here to help. All of our curriculums are created and taught by industry experts with years of experience resulting in rewarding content to help you prepare to get your license and excel in your career as a Mortgage Loan Originator.
NMLS Washington Mortgage License Requirements
Each state has specific NMLS license requirements when it comes to mortgage education. Washington state requires 22 hours of mortgage education - which includes a 4-hour Washington state-specific course.
Mortgage Educators & Compliance has conveniently bundled the nationally required 18-hour mortgage training course with the state-specific 4-hour state law course in one convenient package for new loan officers.
Additionally, this course bundle includes a comprehensive national test prep to help you pass the national exam on your first try. If you are already licensed in another state, we offer a separate mortgage education course with just the NMLS approved 4 hours of state-specific material.
In order to obtain your loan officer license in Washington state, you must complete these education requirements in either a live classroom, Online Instructor-Led (OIL) format, or via live webinar format. The mortgage pre-licensing course bundles shown above are delivered in the OIL format.
The courses are 5-minute sections, which are presented by a pre-recorded video presentation from one of our experienced instructors. After each section, there is a short quiz that covers that section’s content. Upon finishing the mortgage training course bundle, you should expect a test checking comprehension.
All completed hours of mortgage education are reported to the NMLS by Mortgage Educators & Compliance.
Washington Mortgage Broker License VS. Washington 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. The loan officers are employed by the broker to originate loans for home-buyers when they are looking for a loan for their mortgage.
Washington NMLS Pre-Licensing Education Requirements
New state-licensed MLOs are required to complete 22 hours of NMLS-approved education. This includes:
- 3 hours of federal law
- 3 hours of ethics
- 2 hours of non-traditional mortgage lending training
- 10 hours of electives
- 4 hours of Washington state-specific education
Cost of Getting Your Mortgage License in Washington:
When you’re ready to get your NMLS license in Washington, be prepared to pay the following fees:
NMLS Initial Processing Fee: $30
WA License Fee: $125
Credit Report: $15
FBI Criminal Background Check: $36.25
Total application fees: $206.25
Keep in mind that this does not include fees for reporting course hours to the NMLS. Mortgage Educators includes all course reporting fees in its prices to help make that process easier. You will, however, be responsible for paying the NMLS testing fee ($110).
PE Expiration Policy in Washington
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. Washington is currently pending enactment for the policy, which means that though the policy is currently not enforced, it will be rolled out soon.
Washington Continuing Education Requirements
After you obtain your Washington Mortgage License, there are still educational requirements that you must meet in order to get your Washington mortgage license renewal approved and maintain your MLO status.
State-licensed MLOs are required to complete 9 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year).
This includes:
- 3 hours of federal law
- 2 hours of ethics
- 2 hours of non-traditional mortgage lending
- 1 hour of electives
- 1 hour of Washington state-specific education
In order to comply with the SAFE Act’s “successive years” rule, MLOs should note that they may not take the same CE course two years in a row.
**The deadline to complete CE in Washington is December 15. MLO’s in Washington are actually prevented from applying for license renewal until they have completed their CE.
Become an MLO in Washington
Whether you are looking for a Washington mortgage license renewal or are seeking to obtain your license for the first time, our courses will help you meet all the educational requirements and prepare you to pass the national NMLS test.
If you have any questions about our courses, or about how to become an MLO, contact us today. We’re more than happy to answer any questions you may have.
Additional Questions?
Mortgage Educators and Compliance is here to answer any additional questions that you may have in regards to your Washington mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.
