Online Mortgage Agent Courses and Training Programs

It's possible to become a mortgage agent with only a limited education, and many mortgage programs can be completed entirely online. Keep reading for school and program information. See more about online learning, and get professional licensing requirements. Schools offering Real Estate degrees can also be found in these popular choices.

What You Need to Know

Numerous options exist online. However, checking with the online program's content with your own current state requirements for being a mortgage agent is a must.

Online Available from most institutions
Programs Pre-licensure mortgage agent training programs, continuing education courses to maintain National Mortgage Licensing Systems license
Courses Completing a Good Faith Estimate, underwriting FHA and VA loans, working with self-employed borrowers

What Training Do I Need to Become a Mortgage Agent?

The amount of formal training to become a mortgage agent or loan originator varies by state. Legally, new mortgage loan originators should complete 20 hours of training in the areas of federal law, ethics and unconventional mortgages, as well as electives. Some states require state-specific education courses or additional courses above the federal minimum. While many educational organizations include the required hours and courses in a single training package, several offer individual courses, such as:

  • Completing a Good Faith Estimate
  • Underwriting FHA and VA loans
  • Working with self-employed borrowers

Where Can I Find a Program?

Most training options for mortgage agents come from independent schools where they offer pre-licensing courses. These schools typically specialize in mortgages, real estate or related education areas. Some 4-year universities offer mortgage broker pre-licensing preparation programs for no credit. Additionally, there are a few college programs with courses in mortgage loan origination within a business or finance major.

With the constant changes to mortgage packages and banking loan options, information you receive in a university program may provide only generic information and may not satisfy state licensing requirements.

Are There Training Options Available Online?

Most mortgage agent training institutions offer online learning, often at your own pace. Each class satisfies a pre-set number of hours, regardless how long it actually takes you to complete it. When researching online training schools, make sure that the courses offered comply with your state's educational requirements. Call or e-mail the training center to see what kind of proof you receive upon completion of a program.

Do I Need to Be Licensed?

The Secure and Fair Enforcement (S.A.F.E.) for Mortgage Licensing Act of 2008 was established to protect consumers from fraud, but also to persuade states to set a minimum level of criterion regarding licensing and registration of loan originators. The S.A.F.E. Act requires loan originators, licensed by their state of employment, to pass a written test, take pre-licensure courses and complete continuing education classes. States may also require a criminal background and credit check, a surety bond, mortgage or lending experience, and proof of financial security.

While some states handle their own licensing, many rely on the National Mortgage Licensing System (mortgage.nationwidelicensingsystem.org). The American Association of Residential Mortgage Regulators and the Conference of State Bank Supervisors established the Nationwide Mortgage Licensing System (NMLS) to outline each state's requirements regarding education, registration and licensing. The S.A.F.E. Act requires all residential mortgage loan originators to register with the NMLS. To maintain your mortgage loan originator license, the NMLS requires a minimum of eight hours of continuing education to be completed yearly, not including the year the pre-licensure courses were taken. Many schools offer continuing education courses online and at an individual pace.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

  • 1. Degree Options:
The schools in the listing below are not free and may include sponsored content but are popular choices among our users. Tuition and costs will vary across programs and locations. Be sure to always request tuition information before starting a program.

Popular Schools

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