How to Become a Loan Officer in Texas
Do you want to become a loan originator in Texas? Loan officers play an integral role in helping individuals and companies obtain financing. The type of financing can vary from house loans, business loans, and personal loans. Being a loan officer in Texas follows the same licensing process as other states in the US. Here is how you can become a loan officer in Texas.
- Complete the MLO education requirements. The Texas Department of Savings and Mortgage Lending requires you to complete 20 hours of NMLS-approved education. This course must include 8 hours of the national component and 12 hours of the Texas state component.
- Submit your application and exam registration. You must provide your personal information and qualifications to apply to be a loan originator in Texas.
- Pass the National and State exam. After submitting the application, you will be able to register for the exam. The exam type may vary based on your loan originator license type.
- Provide a fitness letter. The Texas Department of Savings and Mortgage Lending requires you to obtain a fitness letter from the NMLS.
- Submit your license application. Once you have all the required paperwork, you can submit the application to the NMLS.
Becoming a loan officer in Texas is not a difficult process. You must first complete the education requirements by taking the NMLS-approved course. You must then pass the national and state exam prior to submitting the license application. Lastly, obtain a fitness letter from the NMLS. Once you have fulfilled all the requirements, you will be eligible to become a loan officer in Texas.
What qualifications do I need to become a loan officer in Texas?
In order to become a loan officer in the state of Texas, you will need to first pass the National Mortgage Licensing System (NMLS) Exam. This exam will test your knowledge of mortgage loan origination as well as Texas-specific laws related to the industry. In addition, you will likely also be required to be sponsored by a lender, broker or bank to apply for a loan officer license. Finally, you will likely be required to complete 20 hours of approved continuing educations courses each year in order to maintain your license.
What type of training is required to become a loan officer in Texas?
In Texas, loan officers must be licensed by the Texas Department of Savings and Mortgage Lending. To become licensed, loan officers must meet certain educational and experience requirements, including 18 hours of approved continuing education, passing a mortgage loan originator (MLO) test, and, in some cases, passing a background check. In addition, applicants must take and pass a Texas-specific MLO test prior to applying for a license.
What educational requirements are needed to become a loan officer in Texas?
In the state of Texas, loan officers holding a position of trust must be licensed by the Texas Department of Savings and Mortgage Lending. The typical requirements that must be met in order to obtain and keep a mortgage loan originator license are:
• Completion of a pre-licensing education program administered or offered by either a state or federally approved educational provider
• Passing of the Uniform State Test and obtaining a qualifying score of at least 70%
• Employment or contracted arrangement with a state licensed entity, such as a mortgage broker/lender, bank, etc., as an MLO
• Background and credit check approval
• Receiving approval through the Nationwide Mortgage Licensing System
• Maintenance of continued education classes on an annual basis