Loan Originators

Exam

Not reported

Education

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Experience

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Background check

Not reported

"Loan originator" means an individual employed by or acting as an agent or independent contractor for a licensed mortgage banker or mortgage broker, with the expectation by the individual of compensation or gain that is determined by the amount borrowed or the terms and conditions agreed to by the mortgage loan borrower, and having primary job responsibilities that include negotiating with a borrower or potential borrower for the purpose of establishing the terms and conditions of a mortgage loan. "Loan originator" includes a person employed at a location outside this state whose primary job responsibilities include contacting or attempting to contact a borrower or potential borrower within this state through any medium or mode of communication for purposes of providing a mortgage loan within this state. "Loan originator" includes an independent contractor processor or underwriter.