Question:

How to get a mortgage broker license?

Answer:

Those willing to get a mortgage broker license should have some mortgage banking exposure and experience. License fee, application fee, background check fee, fingerprint fee and a surety bond of up to $75,000 may be required. Credit report and audited financial statements have to be submitted with the mortgage broker license application.

Mortgage broker licensing requirements vary greatly among states, so make sure your information is up to date.

Also, before attending the certification exam, make sure you attend mortgage broker courses or at least request information about exam contents. Mortgage broker certification will be different for mortgage brokers, lenders and correspondent lenders. 

Now, with the omnipresence of the internet, mortgage broker schools and programs are easy to locate and attend in convenient time and cheaper than it used to be.

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