How to apply for a loan originator license

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Instructions on how to fill out the MU4 forms online at the NMLS site.

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  • My Name is Jack Simon. I am a student of B.com (Final year). Now my studies on the end .so I wan to open my Computer Centre and Coaching Classes. For that I need some money ,SO I want to take a Education loan from the Bank.Can you tell me . How can I take this Loan.

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How to apply for a loan originator license

  1. 1. HOW TO APPLY FOR AN OREGON LOAN ORIGINATOR LICENSE Division of Finance and Corporate Securities
  2. 2. Cautions about this Presentation  The screen shots in this presentation are taken from the NMLS training environment, not the real NMLS. They may vary slightly in the real NMLS.  This presentation follows a fictitious person making a filing for a loan originator application in the NMLS. None of the person’s information is real or intended to reflect any real person.  The circles and arrows seen on the screen shots in this presentation are NOT actually in the NMLS. They are simply to draw your attention to the correct portion of the screen.
  3. 3. Loan Originator Licensing Requirements  Complete 20 hours of pre-licensure education;  Pass an NMLS-approved S.A.F.E. national test;  Pass an Oregon test;  Submit fingerprints for an FBI background check;  Not have a conviction for a felony within the past 7 years or have ever been convicted of a felony that involved an act of fraud, dishonesty, a breach of trust, or money laundering;  Authorize the NMLS to obtain a credit report;  Demonstrate financial responsibility;  Submit an application through NMLS (MU4 Form);  Have, or be covered by, a surety bond as required by DFCS; and  Have not had a mortgage license revoked in any state.
  4. 4. Education Requirements  Certification in NMLS by the state OR  20 hours of NMLS-approved pre-licensure education
  5. 5. Qualifications for Education Certification by Oregon  Completed 20 hours of MLEB-approved education at any time prior to December 31, 2009  Name on Education Certification List AND  Apply for Oregon loan originator license through the NMLS by May 31, 2010
  6. 6. Finding the certification list
  7. 7. Mortgage Lending Home Page
  8. 8. Education Certification
  9. 9. Check the education certification list…
  10. 10. Education Certification List  If name is on the list, then nothing more needed now.  Certification list will be finalized and sent in early July  You will be contacted by NMLS to attest to certification and pay fee, then it’s final and will be posted on NMLS  If name is NOT on the list, you need it to be on the list and you qualify or if it is not your legal name on the list, send certificate(s) or corrections to Kirsten Anderson  Via e-mail to Kirsten.L.Anderson@state.or.us  Via fax to (503) 947-7862 (include a cover sheet) or
  11. 11. NMLS Education
  12. 12. NMLS Education
  13. 13. NMLS Course Catalog
  14. 14. NMLS Education Quick Guide
  15. 15. State Test  Only the Applied Measurement Professionals (AMP) test qualifies  No “grandfather”  No CompUSA/Cerebra
  16. 16. Qualifications for Testing Certification  Pass AMP test at any time while it is offered  Name on Test Certification List AND  Apply for Oregon loan originator license through the NMLS by June 30, 2010
  17. 17. Mortgage Lending Home Page
  18. 18. Testing Certification
  19. 19. Check the test certification list…
  20. 20. Testing Certification List  If name is on the list, then nothing more needed now.  Certification list will be finalized and sent in mid- to-late July  You will be contacted by NMLS to attest to certification and pay fee, then it’s final and will be posted on NMLS  If name is NOT on the list, send certificate to Kirsten Anderson  Via e-mail to Kirsten.L.Anderson@state.or.us  Via fax to (503) 947-7862 or  Via mail to PO Box 14480, Salem OR 97309
  21. 21. State Test
  22. 22. Register for AMP Test
  23. 23. Register for AMP Test
  24. 24. Follow the on-screen wizard
  25. 25. NMLS Exam
  26. 26. NMLS Testing Home Page
  27. 27. Further down the page…
  28. 28. Test Enrollment Quick Guide
  29. 29. NMLS Home Page
  30. 30. Step-by-step process
  31. 31. More steps…
  32. 32. State information…
  33. 33. Create an account or login
  34. 34. To create an account…
  35. 35. Complete the page…
  36. 36. Confirm information…
  37. 37. Account created…
  38. 38. NMLS notification….
  39. 39. Log In to the NMLS
  40. 40. Individual Home Page Tab Work bar s Vertical list
  41. 41. Where to file a MU4
  42. 42. File a MU4
  43. 43. Pick the states that you want to be licensed in…
  44. 44. Check the license(s) you selected…
  45. 45. Confirm the license… Do not add anything here
  46. 46. Finalize the license selected…
  47. 47. Moving to the rest of the MU4
  48. 48. Personal Information
  49. 49. Other Names?
  50. 50. The Loop Process…
  51. 51. Ending the loop…
  52. 52. Residential History – Another loop
  53. 53. Complete the residential history…
  54. 54. The loop
  55. 55. Finishing the loop…
  56. 56. Moving on…
  57. 57. Employment History – Another loop
  58. 58. Completing employment history
  59. 59. Employment History (con’t.)
  60. 60. Other Business? Another loop…
  61. 61. Disclosure Questions
  62. 62. Disclosure Questions (con’t.)
  63. 63. Jurisdiction Participation
  64. 64. Criminal Background Check…
  65. 65. Completeness Check
  66. 66. Completeness Check (con’t.)
  67. 67. Attestation
  68. 68. Pick your payment form…
  69. 69. Application is submitted…
  70. 70. Confirmation of Filing
  71. 71. Fingerprints
  72. 72. Fingerprints (con’t.)
  73. 73. Fingerprints (con’t)
  74. 74. Fingerprints (con’t.)
  75. 75. Filings page Before Now
  76. 76. Historical Filings Before Now
  77. 77. NMLS Notifications
  78. 78. Company Access
  79. 79. Company Access (con’t.)
  80. 80. Company Access (con’t.)
  81. 81. Company Access Finished
  82. 82. NMLS Notifies Company that Access Has Been Granted
  83. 83. Once you have submitted your application and granted the company access, you have completed what you are required to complete in NMLS to apply for your Oregon license.

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