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so are you considering becoming a mortgage loan officer or mortgage loan originator the opportunity is definitely a great one because you don't have to have any kind of an advanced degree so no college no master's degree none of that anybody can test for the license and become a mortgage loan officer it's really pretty simple to do though that doesn't mean easy I also love this opportunity because it doesn't matter your gender doesn't matter your race doesn't matter who you are you can enter into a professional career where you're doing significant work for people helping them get into a home get into you know a lifetime goal and dream in some respects and I also love it because it's for anybody who's willing to work hard who likes to set goals and push forward and accomplish things man mortgage loan officer role might be just for you and then finally I love it because the income opportunity is great it's way beyond a typical hourly wage and the opportunity and room for advancement is really kind of up to you it's all based on the amount of hustle that you want to put into it now I want to walk you through how to become a mortgage loan officer step-by-step as I said it's simple but it's not easy now Who am I I'm Carey green I'm a retired pastor and a mortgage loan officer educator and I just love helping people figure this stuff out now step number one is you need to register to take the nmls safe exam which is the required licensing test to become a mortgage loan officer now there's a few things about this you need to know once you register you're allowed no more than 90 days before you have to take your test so you register one day the clock starts ticking and within 90 days you have to have had that test completed now as of 2020 only 59 percent of people passed the test the first time that tell you something about how difficult the test is it's when you really have to study for and be prepared for and if you fail it you have to wait 30 days to retake the test and you have to pay the testing fee again so my advice is that you study effectively so that you pass the test the first time now step 2 which we're about to get to will help you know what to study there's all kinds of regulations and ethics and rules that you have to know in order to pass that test and my advice is that you not take any chances you need to learn how to study not just what to study and that's why I'm in this business because my course which is called passed the safe exam is designed to help you know how to study because that 59% tells you a lot of people get the what but because they don't know how the how they don't pass that first time that's step number two is to find and take a required 20 hour pre-licensing course now understand this is required you have to take this 20 hour course which costs you right around 350 bucks depending on the provider and you have to do that in order to get your license okay now you don't have to do it in order to take the test but you do have to do it to finally get licensed but I suggest you register for that test and then you go choose a course that fits you I will have a course listing provided by the nmls which is the government branch that oversees all this testing in the video description and it's their list of all their approved course providers I would suggest you sign up and you get started with that course after you've registered to take your test that way you'll have that 90 day window ticking you'll be able to study in the meantime and bone up on everything you need to learn my advice is to be careful when you choose this course because not all courses are created equal my story I signed up for what I thought was an instructor-led course and I found an instructor lead doesn't necessarily mean there's an instructor leaving the course what mine was was a pre-recorded sort of thing in a instructor had put together the curriculum but was nobody live in the sessions helping me learn answering questions interacting with me and the other students and so I went and I got my money back on that one and I found another course that is instructor-led now I want to recommend a course to you and full disclosure this is an affiliate relationship which means I get a little bit of a finder's fee for sending you to this organization but you pay the same price you would as if I didn't send you and the reason I recommend this course it's called affinity real estate and mortgage services and they have a number of different options they have a truly instructor-led interactive sort of course a Tricia is the woman who does it she's been teaching for many years she really knows how to explain things and she's very good at explaining the concepts to you she also has online versions and live versions she is based in California and so she actually has live classes you can go to if you're in California man I recommend that above any other approach because you're gonna learn so much more in the interaction and questions from other students it's gonna help you tremendously I also appreciate affinity because they have two versions of the online course there's a five-day course and a 10-day course now you can just do the math on that it's a 20-hour course so in five days you can have two four hours a day and in ten days you ought to do two hours a day so I love that they offer two different options you can find that link in the video description as well now a winning combination to make sure you pass that first time is to take your twenty hour course and then go to my past the save exam com website and sign up there it is a pay what you want course you get to choose what you're going to pay and I guarantee you this course is worth 150 200 maybe even 300 dollars because it's teaching you study skills and approaches to the actual content you need to know that will help you pass the first time you can go there and read all the testimonials there's plenty of videos in this channel as well that explain how other students have taken my course and have passed the first time or on their third attempt after they had studied without my course they came and found it and passed next time so this is a winning combination it's what I suggest step three on becoming a mortgage and loan officer is that you need to submit to a background check and this one the nmls requires this for all mortgage loan officer candidates so you can't get around this it's gonna include setting an appointment going to get your fingerprints done all that sort of stuff as of 2020 the cost for that is $36.25 and you'll be able to set that up and pay for it through the nmls website and my advice is to do this step in the following two steps at the same time and I will include a link in how to do all of those things in the video description for this video step number four you're gonna have to submit your personal history and experience now a lot of people get kind of confused by this one this does not mean you have to have mortgage loan officer experience it's not required that you've done this sort of work before they're just wanting to see your work history and your experience and my advice is again that you include this with step three and the next one to do them all at the same time step number five submit to an independent credit report and administrative and civil and criminal findings now you're going to do all this through the nmls website now you do not have to have perfect credit to become a mortgage loan officer the things that they're worried about really and most concerned about are bankruptcies in abusive credit so they're going to be looking at those things if if you have bad credit because a medical debt or some other thing those things will be taken into consideration it's usually not a problem each state is going to be a little different so depending which state you're filing for a license in there may be additional considerations on this and again do steps three four and five all at the same time step six and this is not really a step it's just something you need to be aware of if you have had any mortgage loan officer license in the past and it's been revoked by any government jurisdiction you're not going to be able to get a license most likely there may be exceptions you'd have to check with the nmls to find out what those are but just know that could be a hurdle for some people and then step number seven which again is not really a step either is you must not have been convicted of or have pled guilty to a felony that involves fraud dishonesty breach of trust or money laundering that's because the mortgage loan industry is a very important and professional industry you're going to be dealing with people's financial information social security numbers their credit reports all kinds of things they want to make sure people who are serving people in that capacity are honest and trustworthy so that's why this requirement is in there in the description for this video I'm gonna include all these resources the nmls stats on the pass/fail rates for the mlo test all approved 20-hour pre-licensing course providers and then my recommended 20-hour pre-licensing course my pay what you want study methods course past the safe exam comm and how to link for all the nmls processes and steps that you have to go through now becoming a loan officer is a great opportunity as I talked about at the beginning of this video you have an opportunity to sit across the table from real people everyday people and help them figure out how to get into the home of their dreams or a starter home or something that will help them start to build investments for the future and it's a great way to build a life and a career for yourself as well this video is brought to you by passed the save exam calm where you can get your pay what you want study methods course to help you pass the nmls safe exam the first time