How to Get a Montana Mortgage Loan Originator (MLO) License
Montana Mortgage License Requirements
- Complete a civil and Criminal Background Check (CBC)
- Authorize a credit report through the NMLS
- Fulfill all state and federal education requirements as designated by your state agency
- Take and pass a National Test
- Obtain sponsorship from an approved mortgage broker or lender; MLOs may not be employed by or perform mortgage origination activities for more than one Montana entity licensee simultaneously
- Designated managers must have 3 years of experience
- Provide a surety bond in the appropriate amount based on annual loan production (bond may be carried by the employer of the mortgage loan originator)
- Pay the required licensing fee (includes the NMLS fee)
Steps to Get a Montana Mortgage License
- Enroll in the Montana Mortgage Loan Originator (MLO) 22-Hour SAFE Act Pre-License Course
- Complete the required 20 hours of NMLS-approved education, including federal law, ethics, non-traditional mortgage lending, electives, and Montana state-specific education
- Prepare for and pass the National Test
- Submit your license application through NMLS, along with the required background check, credit report authorization, and licensing fee
- Obtain sponsorship from an approved mortgage broker or lender in Montana
- Ensure that designated managers have the required 3 years of experience
Course Description
The Montana Mortgage Loan Originator (MLO) 22-Hour SAFE Act Pre-License Course offers comprehensive, online education tailored to meet the requirements of mortgage loan originators in Montana. The course covers all necessary topics, including federal law, ethics, non-traditional mortgage lending, electives, and Montana state-specific education, ensuring a comprehensive understanding of the mortgage industry.
Course Features
- 22-Hour SAFE Act Pre-License Course
- Online, self-paced learning
- Comprehensive coverage of federal law, ethics, non-traditional mortgage lending, electives, and Montana state-specific education
- Designed to meet Montana requirements
- Interactive course materials and quizzes to enhance learning
Start your mortgage career with Cameron Academy’s MLO License Course – an engaging online course offering education and support for success in the mortgage field. Enroll today and make a meaningful difference as a Mortgage Loan Originator!
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