How to Get District of Columbia Mortgage Loan Originator License and Mortgage Company Licensing and Education Requirement Information
1. Get your NMLS Number
If you have not done so already, it takes 1 -2 minutes to get your NMLS number. https://www.statemortgageregistry.com/Public/Login.aspx Click "Request an account" Click "Individual" We try to make all of these things easier, what questions may we answer? Use the chat feature on the bottom right corner of every web page to get answers now! If you have already registered and do not know your number, buy you package and we will walk you through number retrieveal, enter 1111 as your number at checkout.
2. Get and complete your DC 20 Hour Prelicense Course Bundle
3. Pass the NMLS Nation Component Exam with Uniform State Test using our included test preparation program and add other states by getting and completing state PE courses
4. Apply for your District of Columbia MLO License
Questions about qualifications or any part of the process? Use the chat feature on the bottom right or click here and get answers fast!
District of Columbia DC Mortgage Loan Originator MLO Pre-Licensure Education Requirements
New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This education must include 3 hours of Federal law, 3 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, plus 9 hours of undefined education (referred to as electives) + 3 hours of DC law. Number of hours is 3/3/2/9/+ 3hrs of DC law = 20 DC has a requirement for 3 hours of instruction on state-specific law which may be satisfied by either taking a DC comprehensive course or a state-specific elective course. Click here if you have already completed a 20 hour course and need a DC 3 Hour PE online course narrated for your ease of completion.
District of Columbia DC Mortgage Loan Originator Continuing Education CE
All those who complete Washington DC PE prior to the current calendar year, must take Washington District of Columbia, continuing education in the current year for license renewal.
DC CE Deadline
The deadline to complete CE is November 1, 2022. However, MLOs in DC are prohibited from submitting an application to renew their license if they have not completed CE. Since it may take as long as seven (7) days for a course provider to report a course completion into NMLS, MLOs are strongly encouraged not to wait until the last minute to try to complete CE or they may be prevented from submitting for renewal on time.
District of Columbia Mortgage Loan Originator and Mortgage Company Licensing Agency and Contact Information
District of Columbia Regulator: D. C. Department of Insurance, Securities and Banking
Address: 810 First Street, NE Suite 701 Washington DC 20002
Phone: (202) 727-8000 Fax: 202-535-1194 Website: http://disb.dc.gov/
DC Mortgage Regulations Title: 26-C<
BANKING AND FINANCIAL INSTITUTIONS
Who Needs a DC MLO License?
This license is required of any person who, on behalf of a District of Columbia mortgage lender, mortgage broker, or mortgage dual authority licensee, takes a residential mortgage application; offers or negotiates terms of a residential mortgage loan; or solicits or offers to solicit a mortgage loan on behalf of a borrower for compensation or gain. Takes a residential mortgage loan application means: recording the borrower’s application information in any form for use in a credit decision; or receiving the borrower’s application information in any form for use in a credit decision.
District of Columbia mortgage loan originator MLO checklist
How much does the DC MLO License Cost? $381 for 2022 costs itemized as follows.
NMLS Initial Processing Fee: $30
DC Application Fee: $300
Credit Report: $15
FBI Criminal Background Check: $36.25
Questions? Use the chat feature on the bottom right or click here to contact us