How to Become a Mortgage Loan Originator

To become a Mortgage Loan Originator (MLO), you need an NMLS ID, take 20+ hours of approved pre-licensing education (with specific IDs like #15850 for some courses), pass the SAFE test (75%+), and pass a background check including a credit report review, but there’s no specific minimum credit score. Instead, the NMLS & state regulators look for patterns of financial irresponsibility. California, for instance, requires 20 hours of NMLS education with a state-specific component, depending on if you go through the DRE or DFPI. 

Key Steps for MLO Licensure:

1. Create NMLS Account: Get your unique NMLS ID.
2. Complete Education: Finish 20 hours of NMLS-approved education (National + State-specific).
3. Pass the Test: Score 75% or higher on the SAFE MLO Test (National & State portions).
4. Background Check: Authorize a credit report and submit fingerprints for a criminal check.
5. Apply: Submit the MU4 form and fees through NMLS. 

Credit Score Details:

• No Minimum Score: The NMLS doesn’t set a universal minimum score.
• State Discretion: Each state regulator reviews credit for “financial responsibility”.
• Focus on History: They look for patterns (like bankruptcies, foreclosures) rather than just the score itself.