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

Maine 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
  • Meet surety bond or net worth requirements (may rely on bonds posted by, or net worth demonstrated by, employers under certain circumstances)

Steps to Get a Maine Mortgage License

  1. Enroll in the Maine Mortgage Loan Originator (MLO) 20-Hour SAFE Act Pre-License Course
  2. Complete the required 20 hours of NMLS-approved education, including federal law, ethics, non-traditional mortgage lending, and electives
  3. Prepare for and pass the National Test
  4. Submit your license application through NMLS, along with the required background check, credit report authorization, and documentation of completed education
  5. Comply with surety bond or net worth requirements, depending on your employment situation

Course Description

The Maine Mortgage Loan Originator (MLO) 20-Hour SAFE Act Pre-License Course offers an in-depth online education tailored to the needs of mortgage loan originators in Maine. The course covers all necessary topics required by the SAFE Act, including federal law, ethics, non-traditional mortgage lending, and electives, ensuring a comprehensive understanding of the mortgage industry.

Course Features

  • 20-Hour SAFE Act Pre-License Course
  • Online, self-paced learning
  • Comprehensive coverage of federal law, ethics, non-traditional mortgage lending, and electives
  • Designed to meet Maine requirements
  • Interactive course materials and quizzes to enhance learning

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!

Maine Mortgage Loan Originator (MLO) 20-Hour SAFE Act Pre-License Course 2023

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