Do you need a license to become a mortgage loan officer?

i'm in the state of california and where do you go to school if you do need one?Do you need a license to become a mortgage loan officer?
No. You work under the mortgage broker's license.





**** The guy below who said to ignore me and the other person who answered your question is ABSOLUTELY WRONG. NONE of our Loan Officers are ';licensed'; and they don't have to be. I work for a broker in AZ and previously worked for one in TX. Brokers ask for nothing of the sort. Maybe CA is different, you should research the state that you live in. Even with the major lenders, like the one my husband works for which is Countrywide, does not require or even ask for a license. They train new hires like any other job would. Like I stated before, you should research the state that you live in. I highly doubt you'll need anything though. I've been in the biz for years and never heard of such a thing.


FYI*** There are scams out there that give all sorts of ';lisences'; online which are jokes. Some car dealerships do the same thing to inexperienced sales people, they make them take a $400 class thats really just a waste of time. As an LO, you'll be TRAINED to read rates and choose programs. The guy below sounds like your average sucker.Do you need a license to become a mortgage loan officer?
Contact the State Banking Department to find out. Normally, you work under your employee rs license, however that might be different in CA.
I am a LO in California... Don't listed to either of the above posters, they are wrong if your going to work at a broker shop. If your going to work for a lender who is licensed under the Department of Corporations then the rules are different. DOC companies are typically direct lenders such as Ditech and in that case you will work under a blanket license.





If your going to work for a company that is regulated by the Department of Real Estate, yes you will need a Real Estate Sales Person's license.





You will need to sign up for a real estate school, there are a million of them out there. I used Real Estate Trainers as I was able to do the entire course online. www.retrainers.com.





Once you sign up for the course I would recommend that you log onto the DRE web site www.dre.ca.gov and schedule your exam online. It is $25 for the state test and your test date will most likely be 6-8 weeks out. You will need to have finished your real estate class and have passed the open book exam to take the state test.





Once you take the state exam you get to wait 7-10 days for your results. If you pass the state sends you out the application package. Fill it out, get your finger prints done and mail them the package back with your +/- $300 check.





Once you get the license go interview with some brokers... Your license will also allow you to sell real estate in California.





First thing though... goto the DRE web site and read over the licensing requirements to make sure your going to be able to get your license. This is real important if you have ever had issues with the law in the past as you can be disqualified based on prior bad acts :-(.





If you have any questions, drop me a line.





Kevin 866-562-6838 x 106


kruorock@firstratelending.com