How to Get Your NMLS License: A Step-by-Step Guide

If you’re considering a career as a mortgage loan officer, getting your NMLS license is an essential first step. In this guide, I’ll walk you through each step of the process to help you get licensed and start your new career with confidence.

Step 1: Create Your NMLS Account

The first thing you need to do is create an account on the NMLS (Nationwide Multistate Licensing System). This process is straightforward and free:

1. Visit the NMLS Website: Go to Google, type in "NMLS," and select their official webpage (mortgage.nationwidelicensingsystem.org).
2. Navigate to Account Creation: On the Homepage, choose "Getting Started - Licensed Individuals" to create an account.
3. Create Your Account: Follow the instructions diligently. You’ll need to fill out a security check and provide your personal information.

Once you’ve created your account, you’re ready to move on to the next step.

Step 2: Complete the 20-Hour Pre-Licensing Course

After setting up your NMLS account, the next step is to complete the required 20-hour pre-licensing course. Many companies offer this course, both online and in-person. Personally, I chose to do mine online—it’s convenient, flexible, and you can do it from the comfort of your home.

If you prefer online learning, I highly recommend Learn Mortgage. They offer a comprehensive and complete pre-licensing education, and they’ve provided a 20% discount on their courses in this special link.

Step 3: Sign Up for the National Exam

As soon as you complete your 20-hour pre-licensing course, sign up for the national exam right away. This is crucial! Many people delay signing up for the exam, which can lead to procrastination and unnecessary anxiety. I made the mistake of waiting too long, which only delayed my progress.

Choose a date that works for you—whether it’s 30, 60, or 90 days away—but make sure you have a set date to keep yourself accountable.

Step 4: Study Effectively

Now that you’ve signed up for your exam, it’s time to start studying. Here’s a strategy that worked for me:

1. Start with a Summary Book: Start with a summary guide. This simplifies the textbook content you received with your pre-licensing course. This book will help you grasp the basics more easily. Here is the link to a highly recommended summary guide (add link here).
2. Review the Textbook: Go through your textbook at least twice. Take notes on key concepts, especially those you find challenging or important. Don’t stress about memorizing everything—focus on understanding the material.
3. Use CompuCram: This test prep tool was instrumental in helping me pass the exam. It includes thousands of practice questions and a readiness indicator that shows how prepared you are. CompuCram is offering a 25% discount in this link.
4. Make Studying Fun: Try to associate tricky concepts with funny rhymes or personal experiences. For example, I remembered the CFPB (Consumer Financial Protection Bureau) as “Peanut Butter Frank” to connect it with the Dodd-Frank Act. These little tricks can be incredibly helpful during the exam.

Step 5: Submit Your Application

Once you pass the exam, (and I’m confident you will!) you’ll need to submit your application through the NMLS website. This step involves providing necessary documents, undergoing a credit check, and completing fingerprinting. After submission, you’ll receive your license approval.

Step 6: Find a Mortgage Company

The final step is to find a mortgage company to work for. Once you’ve secured a position, you’re officially ready to start originating loans and building your career as a mortgage loan officer.

Conclusion:

That’s it! I hope this guide was helpful in your journey to getting your NMLS license. Following these steps will put you on the fast track to becoming a licensed mortgage loan officer. If you have any tips or experiences you’d like to share, please comment below.

Thanks for reading, and best of luck on your path to becoming a licensed mortgage loan officer!