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How to Get a Alabama Mortgage Loan Originator (MLO) License

Alabama Mortgage License Requirements

  • Complete a 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 with a grade of 75% or higher
  • Must be covered by a surety bond in favor of the State of Alabama through the company you are working for or individually obtain a surety bond
  • Cannot have been convicted of any felony in the last 7 years
  • Can never have been convicted of a felony involving an act of fraud, dishonesty, breach of trust, or money laundering

Steps to Get a Alabama Mortgage License

  1. Complete 20 hours of NMLS-approved pre-licensing education
  2. Pass the National Test with a grade of 75% or higher
  3. Complete a Criminal Background Check (CBC)
  4. Authorize a credit report through the NMLS
  5. Obtain a surety bond
  6. Comply with all state and federal education requirements

Course Description

Cameron Academy’s Alabama MLO License Course is a comprehensive, interactive online webinar designed to meet the pre-licensing education requirements for mortgage licensing in Alabama. This 20-hour course covers federal lending legislation, ethics, non-traditional mortgage lending, and a range of elective topics to provide a solid foundation for aspiring mortgage loan originators.

Course Features

  • Live and interactive 20-hour webinar
  • Covers required topics, including federal law, ethics, and non-traditional mortgage lending
  • Engaging group Q&A sessions and discussions
  • Ability to download course material for federal exam preparation
  • Access to course facilitator for additional support
  • Login credentials provided within 24 hours of enrollment

3 Benefits of a Career in the Mortgage Industry

  1. Increased Earning Potential: With an MLO License, you can tap into the lucrative mortgage industry, where median salaries range from $60,000 to $70,000, with top performers earning over $100,000 annually (source: U.S. Bureau of Labor Statistics, 2021). The potential for growth and higher commissions increases with experience and a proven track record.
  2. Making a Tangible Impact: MLOs play a pivotal role in helping 65.8% of American households (source: U.S. Census Bureau, 2021) achieve homeownership. As an MLO, you facilitate the process of securing dream homes and financial stability for families, leaving a lasting impression on their lives.
  3. Continuous Learning and Career Growth: The mortgage industry is continuously evolving, with over 5.64 million homes sold in the U.S. in 2020 (source: National Association of Realtors, 2021). As an MLO, you’ll stay updated on market trends, regulations, and innovative lending solutions, ensuring long-term professional development and a rewarding career.

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!

Alabama Mortgage Loan Originator (MLO) 20-Hour SAFE Act Pre-License Course 2024

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