If you want to work in the mortgage industry, what kind of degree do you need?

Do you want to get your foot in the door of the mortgage business? The best first move is to become certified as a Mortgage Loan Officer (MLO), a position that allows for a flexible work schedule and the potential for an unlimited compensation.

Professional requirements for a Mortgage Loan Officer include meeting a minimum age requirement of 18, passing a current criminal background check and fingerprinting, and submitting to a thorough credit check. You’ll also need an excellent credit score. The Nationwide Multistate Licencing System (NMLS) must provide its permission before you may go further after creating an NMLS account and receiving an NMLS ID number.

You need to satisfy these professional requirements and complete the relevant education to become a licenced MLO. The colorado mlo continuing education is essential there.

Education In the Past Getting a Licence

Pre-Licensure Education (PE) is the first required piece of coursework after registering with the NMLS. Pre-licensure education must be taken at an NMLS-approved school, and it must contain 20 hours of nationally mandated training. At least 8 of these hours must be spent on prescribed coursework or meeting predetermined elective hour minimums. Although the majority of the Pre-Licensure curriculum is same from state to state, students in many jurisdictions must also complete an additional one to five hours of state-specific material.  Your previous PE credits may be null and void under certain conditions, in which case you’ll have to take them all over again. This might happen if, for example, you do not take the necessary steps to get your MLO licence within three years after completing your PE.

You need to take some time apart from the industry before returning

The national Pre-Licensure education requirement must be fulfilled within the first two weeks of the course, but there is nothing to worry about. You may get your MLO certification without ever leaving the comfort of your own home or interrupting your busy schedule by completing the necessary training and testing online.

The Safe and Accurate Financial Exam for MLOs

You should start studying for the SAFE MLO Test as soon as you fulfil your phys ed requirements. In order to apply for an MLO licence, you must first pass this exam, the results of which will determine your eligibility for a licence.

Before you may book your test, you must pay the $110 fee and agree to the Candidate Agreement. The exam may be done in-person or remotely and lasts for 190 minutes; it consists of 120 multiple-choice questions. If you don’t obtain at least 75% on the test the first time, you may take it as many times as you want until you do.


Both a Test Outline and an MLO Testing Handbook are available from the NMLS to help you get ready for the exam. If you want to feel more at ease on test day, you may also want to consider intensive exam preparation. In the case that you do not maintain a valid MLO licence for a period of five years in a row, you will be required to retake the SAFE MLO Test.

By Clare Louise