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Become an MLO in Washington DC!

 

Get Your Mortgage Loan Originator License in 2024!

 

 

Washington DC Pre-Licensing Bundle

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Starting at: $399 Now Only $269!

Use Promo Code: DCPEDEAL

 

 

Licensed in another state and want to add Washington DC?

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Now Only $59.98!

Use Promo Code: DCPE59

 

 

 

Obtaining a mortgage license and becoming a Washington DC loan officer is very simple, but it’s not for everyone. It takes a willingness to learn the basic ins and outs of the industry as well as a desire to work hard. The mortgage industry is a great one to get into and it provides a lot of flexibility. If you like to work hard, you are a people person, and you have a desire to learn, becoming a mortgage loan officer is the perfect choice for you.

Fortunately, Mortgage Educators is here to help. All of our curriculums are created and taught by industry experts with years of experience resulting in rewarding content to help you prepare to get your license and excel in your career as a Mortgage Loan Originator.

 

How to Get Your MLO Mortgage License in Washington DC

 

1. Apply for your NMLS Account and ID Number

The first step to getting your Washington DC mortgage license is applying for an NMLS account and ID number. To do so, go to the NMLS website.

 

2. Complete your NMLS Pre-License Education

Washington DC requires new state-licensed MLOs to complete 20 hours of NMLS-approved education. This includes 3 hours of Federal law, 3 hours of ethics, 2 hours of non-traditional mortgage lending, 9 hours of electives, and 3 hours of Washington DC specific law.

 

3. Pass the NMLS Mortgage Licensing Exam with 75% or Better

With your education complete, you need to schedule an appointment for the National Test Component exam. Find out more on how to take your NMLS exam here.

 

4. Complete Background Checks and Pay All Fees

To finalize your application and receive your license, you’ll need to pay several non-refundable fees and get a background check. Find out more about how to complete your background check and fingerprints here.

 

5. Apply for your Washington DC Mortgage License

After receiving a passing score on your NMLS mortgage exam, you need to apply for your NMLS license. You can find more information on this step here.

 

6. Associate your NMLS Account with your Employer

You won’t be fully licensed in Washington DC until you have an employer sponsorship, which lets the government know that an employer is supervising your individual license. Learn how to associate your NMLS account with your employer here.

 

Washington DC Frequently Asked Questions

In an effort to curb the predatory lending practices that led to the demise of the housing and residential mortgage industry in 2008, the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE) was enacted. This opened up a world of opportunity to those driven to attain an MLO license and then work hard to match people with loan products.

 

Topic Hours Required
Fair Lending, Ethics, Fraud, and Consumer Protection 3 Hours
Federal Laws and Regulations 3 Hours
Non-Standard Lending 2 Hours
Undefined Electives 9 Hours
DC Specific Electives 3 Hours
Total 20 Hours

Allthough it is not currently being enforced, be on the lookout for the PE Expiration Policy that's coming. It states - If you complete the required 20 hours of education but do not obtain your license for a 3-year period, you'll need to repeat the coursework. The same applies if you let your license lapse for 3+ years before you want to get back into the industry.

A “mortgage broker” refers to an individual or an organization that connects consumers with mortgage loans from a variety of companies. Mortgage brokers frequently employ loan officers. In contrast, a loan officer is an employee who regularly works with borrowers and provides loans that are originated by their employer. Brokers and loan officers need different types of licenses.

Earning your mortgage broker license in Washington DC should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Washington DC:

NMLS Fees
NMLS Initial Processing Fee $30
Washington DC License Fee $300
Credit Report $15
FBI Criminal Background Check $36.25
Total License Cost $381.25

On an annual basis, Washington DC MLO license holders must complete 8 total hours of Comprehensive Continuing Education that must cover:

Topic Required Hours
Federal Regulations and Law 3 Hours
Ethics, including consumer protection, fair lending 2 Hours
Non-Traditional mortgage lending 2 Hours
Washington DC Specific Education 1 Hour

Remember to take into account the “successive years” rule, which prohibits loan officers from taking the same CE course two years in a row. Mortgage Educators changes its continuing education course annually to ensure there are no issues with the successive years rule.
The deadline to complete CE in Washington DC is November 1st. MLO's in Washington DC are actually prevented from applying for license renewal until they have completed their CE.

Mortgage Educators and Compliance is here to answer any additional questions you may have regarding your Washington DC mortgage license. For additional questions, feel free to call us at 801-676-2520 or email us at 20hour@mortgageeducators.com.

 

districtofcolumbia flag Washington DC NMLS Approved Course Provider