Mortgage Loan Originator
- Exam
- Third-party exam
- Education
- Specific course
- Experience
- Not reported
- Background check
- None
This license is required of any individual who, for compensation or gain or in the expectation of compensation or gain, takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan. Pre-requisites for license applications? Education and testing: Pre-licensing education and testing is required for all mortgage loan originators. Pre-licensing education courses and tests will be reviewed and approved by the NMLS and only NMLS approved course providers and testers will be accepted. Approved course providers and testers will be published on the NMLS website. An applicant must complete at least 20 hours of approved education, including all of the following: => 3 hours on federal law and regulations. => 3 hours on ethics, including instruction on fraud, consumer protection, and fair lending issues. => 2 hours on lending standards for the nontraditional mortgage product marketplace. => 12 hours of elective coursework related to the mortgage industry.
Requirements reported by the state
- Licence type
- Stand-alone license
- Exam
- Third-party exam required
- Education
- Specific course required
- Certification
- No mention of certification
- Background check
- No criminal record requirements
Issuing body
- Division
- via Nationwide Mortgage Licensing System
- Board
- WI Dept of Financial Institutions
- Address
- 201 W. Washington Ave, Suite 500 Madison, WI 53703
- Phone
- (608) 261-7578
- Agency website
- http://mortgage.nationwidelicensingsystem.org/slr/Pages/DynamicLicenses.aspx?StateID=WI
- Licence page
- https://dfi.wi.gov/Pages/FinancialServices/MortgageBanking/LicenseTypesRequirements.aspx
- Last updated
- September 10, 2024
Occupations (O*NET)
- Mortgage Loan Originator 13-2072.00
Source and verification
This record is Wisconsin's report to the Analyst Resource Center, published by CareerOneStop (October 2024 export). Everything shown comes only from that report.
Before you apply, confirm every detail with WI Dept of Financial Institutions — see the issuing body section above.
How we process this data. Not legal advice.