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How to Become a Mortgage Loan Officer in Alabama and Get Licensed
Are you ready to embark on a rewarding career as a Mortgage Loan Officer in Alabama?
This video will guide you through the essential steps to obtain your MLO license and meet all Alabama mortgage education requirements. Here’s what you need to know:
Alabama Mortgage License Requirements
1. Background and Credit Checks:
Complete a Criminal Background Check (CBC).
Authorize a credit report through the NMLS.
2. Education and Testing:
Fulfill all state and federal education requirements as designated by your state agency.
Take and pass the National Test with a grade of 75% or higher.
3. Surety Bond:
Be covered by a surety bond in favor of the State of Alabama through your company or individually obtain one.
4. Criminal Record:
Cannot have been convicted of any felony in the last 7 years.
Can never have been convicted of a felony involving fraud, dishonesty, breach of trust, or money laundering.
Alabama NMLS Pre-Licensing Education Requirements
New state-licensed MLOs must complete 20 hours of NMLS-approved education, which includes:
3 hours of federal law
3 hours of ethics
2 hours of non-traditional mortgage lending training
12 hours of electives
Alabama Continuing Education Requirements
State-licensed MLOs must complete 8 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:
3 hours of federal law
2 hours of ethics
2 hours of non-traditional mortgage lending
1 hour of electives
To comply with the SAFE Act’s “successive years” rule, MLOs may not take the same CE course two years in a row.
Ready to Get Started?
Watch this video to learn everything you need to know about becoming a Mortgage Loan Officer in Alabama. Subscribe to our channel for more tips and resources on building your real estate career and share this video with a friend who's considering this exciting path!
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