Continuing Education and Steps Needed To Renew Your Mortgage License

mortgage state requirementsOver half of homeowners have a mortgage.

If you’re a lender or mortgage loan originator, you know how many people are interested in finding a mortgage to purchase their new home. This is one incentive to get more out of your mortgage Continuing Education (CE), even if it’s required.

Did you know that mortgage licensure requires consistent maintenance on the recipient’s part? Annually you’re required to renew your license through the Nationwide Mortgage Licensing System (NMLS) to continue distributing legitimate mortgage loans.

If you’re not sure about your role in the long run, MLG is here to help. Below we’ve outlined the steps to renew your license, plus the basics of mortgage CE.

1. Know Your State Requirements

Depending on the state you’re licensed in, you may need to satisfy several different requirements to apply for license renewal.

In Arizona, for example, you need to provide several specific forms and pay appropriate fees associated with your license renewal.  In this case, most of them can be emailed in if you’d prefer to not use physical mail.

Regardless of your state of licensure, the renewal information you need can be found here. Keep in mind that states might make updates to these requirements as the renewal period approaches.  License renewal always begins on November 1st, and different states have different deadlines to request renewal by.  Consult this list throughout the year to determine ahead of time what is required.

2. Prepare Your Materials

Knowing your requirements and actually satisfying them are two different things.  It’s a nice relief to look at a checklist of materials and think, “That’s all easy to get.”

It’s important to make sure you get those things. Certain elements of your license renewal might take a few days or weeks to gather. If you’re aware of that timeline, you can beat the deadline.

3. Beat Your Deadlines

A deadline is a powerful motivator. That’s why it’s vital to know the deadline for your application materials. It’s also important to put reminders into your calendar at key times to be sure that you aren’t rushing at the last minute to cram in courses or find paperwork.

For most states, your annual renewal deadline is December 31st, but it’s still critical that you don’t procrastinate.

4. Understand the World of Mortgage Continuing Education

Jump into the realm of CE if you haven’t already.

We’ve created a course system to let people all over the U.S. select and participate in interactive Continuing Education courses at their convenience. CE shouldn’t seem like a burden, but a way to better understand your industry. You can take our courses online, in person or through a webinar setting.

Set yourself up to be able to renew every year. That way, you can keep investing in mortgages securely and legally.

It’s Time to Get Ahead of the Curve

With the right information, you’re more prepared than ever before to understand license renewal requirements. The steps and education represent an opportunity to advance in your career as a lender or mortgage loan originator.

We’re here to help get you started. Reach out to our team to get started on your license renewal process today.

The Mortgage Licensing Group, Inc. is a full-service mortgage licensing firm headquartered in Southern California that is recognized throughout the industry as an experienced and reliable service provider. Established in 2006, our company has been on the forefront of the ever-changing rules and regulations, helping alleviate the often daunting task of meeting the diverse state licensing requirements for our clientele.