Becoming a mortgage broker or mortgage loan officer (MLO) requires a mortgage license in Florida. This can be a lucrative career with flexible hours and growth potential, but it requires some education and testing to provide the best service to clients and customers. Take a look at the steps and benefits of getting your license.
4 Steps to Get Your License
Here are the four steps needed to be licensed for this type of exciting work:
- Pass a criminal background check that includes electronic fingerprinting.
- Complete 20 hours of education that covers:
- Federal laws and regulations
- Fraud, consumer protection, and fair lending issues
- Non-traditional mortgage lending
- General information
- Pass the national and state MLO tests.
- Pass a credit check through NMLS.
What Are the Benefits of Being a Mortgage Broker?
The several benefits of being a mortgage broker include:
- Flexibility. Being a mortgage broker can provide a lucrative income for those interested in full-time work and those looking to change careers. It’s also great part-time work for students, parents, or anyone looking to change careers.
- Quick licensing options. You have to be serious about attending the required classes and preparing for the exam. Depending on your other commitments, you can get your license as quickly as 45 days from beginning to end. That allows you to get started immediately.
- Be part of the growing business of real estate. You can work with real estate agents or combine the jobs. Many in Florida are also licensed MLOs. They expand their services and expertise to streamline the entire buying and financing process, making you more competitive and ensuring your client gets the best combined service.
Becoming a licensed mortgage broker in Florida is meaningful work, as you get to help families find the homes of their dreams. Check out these more detailed steps to obtaining your Florida mortgage license today!