How to Get a Illinois Mortgage Loan Originator (MLO) License
Illinois 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 the National Component
Steps to Get a Illinois Mortgage License
- Enroll in the Illinois Mortgage Loan Originator (MLO) 20-Hour SAFE Act Pre-License Course
- Attend the live, interactive webinar covering all necessary topics required by the SAFE Act and Illinois state-specific requirements
- Engage in group Q&A sessions and discussions during the course
- Download course materials for federal and state exam preparation
- Complete the course and pass the National Component
The Illinois Mortgage Loan Originator (MLO) 20-Hour SAFE Act Pre-License Course offers a comprehensive education tailored to the unique requirements of mortgage loan originators in Illinois. The live, interactive webinar covers all necessary topics required by the SAFE Act, including federal law, ethics, non-traditional mortgage lending, and electives.
- 20-Hour SAFE Act Pre-License Webinar
- Live, interactive instruction with a course facilitator
- Engaging group Q&A sessions and discussions
- Ability to download course materials for federal and state exam preparation
3 Benefits of a Career in the Mortgage Industry
- 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.
- 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.
- 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!
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