
If you're looking to become a mortgage loan originator in Georgia, you'll need to complete a state-approved education course to meet the National Mortgage Licensing System (NMLS) requirements.
The SAFE Act, which was enacted in 2008, requires mortgage loan originators to complete 20 hours of pre-licensing education, including 3 hours of federal law, 3 hours of ethics, and 2 hours of mortgage regulations.
The NMLS requires that these courses be completed through a state-approved education provider.
To get started, you'll need to choose a state-approved education provider in Georgia.
Pre-Licensing Courses
To get your mortgage loan originator license in Georgia, you'll need to complete a 20-hour Pre-Licensure education course. This course will prepare you for the next step towards getting your license, which is taking the SAFE MLO Test.
You can choose from various course packages that fulfill all Pre-Licensure requirements, such as the 20 Hour SAFE Comprehensive: Georgia Mortgage Loan Originator License Course Packages or the Premier Plus 20 Hour Georgia Pre-Licensing Package (Webinar with eBook).
Some courses, like the Standard 20 Hour Georgia Pre-Licensing Package (14-Day OIL), are designed to be completed within a set timeframe, while others, like the Standard 20 Hour Georgia Pre-Licensing Package (7-Day OIL), are more condensed.
The 20 Hour SAFE Comprehensive: Applying Mortgage Knowledge to Exam Preparation (14-Day OIL Course) is a self-paced online course that includes a test-taking strategy video to help you prepare for the NMLS exam.
Here are the specific course requirements you'll need to meet in Georgia:
The cost of these courses varies, with the 20 Hour SAFE Comprehensive: Applying Mortgage Knowledge to Exam Preparation (14-Day OIL Course) costing $249.00, plus a $30.00 NMLS Credit Banking Fee.
Comprehensive: Exam Preparation
Comprehensive exam preparation courses are available for mortgage loan originator license requirements in Georgia. These courses are designed to meet all federal pre-licensing requirements.
A 10-day training program is available, which covers comprehensive mortgage knowledge to exam preparation. This program is a webinar with an accompanying eBook.
Online instructor-led courses are also available, which include a 7-day OIL course with video content. Another option is a 14-day OIL course, which is a package.
All of these comprehensive courses meet the required federal pre-licensing standards for mortgage loan originator licenses in Georgia.
Continuing Education Courses
If you're a mortgage loan originator in Georgia, you'll need to complete 8 hours of NMLS-approved continuing education annually to renew your license.
You can choose from a few different options to meet this requirement, including a Late CE 8-hour package that includes a 1-hour DBF state-specific requirement. This package costs $80.50 plus a $12.00 NMLS Credit Banking Fee.
Alternatively, you can opt for a 7-hour package that includes the 1-hour DBF state-specific requirement, and then add a state-specific elective to complete your 8-hour requirement. This option costs $65.00.
If you're short on time, you can also take a 1-hour state-specific elective course, which costs $29.50. This course is specifically designed for Georgia mortgage loan originators and meets the state's annual requirement.
License Requirements
To get a mortgage loan originator license in Georgia, you'll need to complete a 20-hour National SAFE prelicense course, which includes a test-taking strategy video to help you prepare for the NMLS exam.
The course costs $249.00, plus a $30.00 NMLS Credit Banking Fee.
This comprehensive course will provide you with the necessary knowledge to pass the NMLS exam and obtain your mortgage loan originator license.
You can also purchase a separate video class, the NMLS Mortgage Licensing Exam Test-Taking Strategy Video Course, for $80.00, which will help increase your odds of passing the NMLS exam.
Frequently Asked Questions
How hard is the originator exam for a mortgage loan?
The NMLS originator exam is considered challenging, with a pass rate of only 56% on the first attempt. If you're considering becoming a mortgage loan originator, understanding the exam's difficulty can help you prepare and increase your chances of success.
How long does it take to become a mortgage loan officer in Georgia?
To become a mortgage loan officer in Georgia, you'll need to complete 20 hours of NMLS-approved education, including federal law and ethics courses. This is the first step towards obtaining your state license.
Can you take the MLO test online?
Yes, you can take the MLO test online through the Prometric system, which offers a proctored online testing experience.
Sources
- https://www.theceshop.com/mortgage/georgia/nmls-mortgage-loan-originator-license/georgia-mortgage-loan-officer-pricing
- https://www.oncourselearning.com/mortgage/georgia/mortgage/new-license
- https://www.onlineed.com/catalog/Georgia/mortgage
- https://mymgtr.com/georgia-ce/
- https://www.theceshop.com/mortgage/georgia/nmls-mortgage-loan-originator-license/how-to-become-georgia-loan-officer
Featured Images: pexels.com