How to get Georgia Mortgage Loan Originator Prelicensing Education PE and GA Continuing Education CE Requirements Met
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!
2. Get and complete your GA 20 Hour Prelicense Education PE 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 Georgia 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!
Georgia Mortgage Loan Originator Prelicensing Education Requirements
NMLS Approved 20 hour comprehensive course. Georgia does not have any state specific PE requirements in addition to the initial 20 hours of SAFE education. If you haven't completed your initial 20 hours of SAFE education, click here to view our 20 Hour SAFE options.
Note: For reapplications, Georgia requires completion of CE in the last year the license was in an approved status. O.C.G.A. § 7-1-1004(e)(5). Pre-licensure education will expire after three years without a valid mortgage loan originator license or federal registration. Rule 80-11-5-.04.
GA Loan Officer Continuing Education Requirements
Gergia MLO licensee need to complete at least 8 Hours including 1 hour of GA state specific law of NMLS approved continuing education every year.
Click here to get your GA 8 Hour with 1 hour Georgia law MLO online course.
Who needs a Georgia MLO License?
Pursuant to the Georgia Residential Mortgage Act (GRMA), located in the Official Code of Georgia Annotated (O.C.G.A.) § 7-1-1000 et. seq.), it is prohibited for any person to transact business in the state of Georgia directly or indirectly as a mortgage loan originator (“MLO”) unless the individual is licensed by the Georgia Department of Banking and Finance (“Department”), qualifies to operate under the temporary authority provisions of 12 U.S.C. § 5117, or qualifies for an exemption. If an individual engages in mortgage loan originator activity in Georgia without a license or without satisfying all of the conditions for temporary authority, both the individual and the sponsoring employer may be subject to administrative action by the Department.
O.C.G.A. § 7-1-1000(22) defines "mortgage loan originator" as an 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. GRMA further defines a "residential mortgage loan" as any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling, as defined in Section 103(v) of the Truth in Lending Act, or residential real estate upon which is constructed or intended to be constructed a dwelling.
Laws governing the residential mortgage industry are primarily found in the GRMA, O.C.G.A. § 7-1-1000 et. seq. Access to the entire Georgia Code is provided by LexisNexis from the Georgia General Assembly's website. Go to the O.C.G.A. Rules governing the residential mortgage industry are primarily located in Chapter 80-11. Certain application, investigation, supervision, examination and other fees are also found in Chapter 80-5.
Convicted felons, including those that have pled guilty to a felony even if the felony charges were ultimately reduced, who do not provide documentation of the remedy provided for in O.C.G.A. § 7-1-1004(d)(2) (e.g. a pardon) will not be licensed. O.C.G.A. § 7-1-1004 provides no time limit on felony convictions that prohibit licensure. Omissions in either the Individual Form (MU4) or communications with the Department regarding criminal history are deemed to be a serious misrepresentation to the Department and can be the basis of a denial regardless of the nature or outcome of the arrest.
Verification of Lawful Presence: Pursuant to O.C.G.A. § 50-36-1, the Department is required to verify the lawful presence of every individual submitting a new application. Legal permanent residents, qualified aliens and nonimmigrants are required to reverify their lawful presence annually at renewal once licensed.
How much does a GA MLO license cost? $181.25 itemized as follows:
NMLS Initial Processing Fee: $30
GA Application and License Fee: $100
Credit Report: $15
FBI Criminal Background Check: $36.25
GA MLO NMLS Checklist:https://nationwidelicensingsystem.org/slr/PublishedStateDocuments/GA-MLO-New-Application-Checklist.pdf
Georgia Mortgage Broker/Processor License/Registration NMLS Checklist:https://nationwidelicensingsystem.org/slr/PublishedStateDocuments/GA-Mtg-Broker-Processor-License-Registration-NewApp-Checklist.pdf
GA Mortgage Lender License NMLS Checklist: https://nationwidelicensingsystem.org/slr/PublishedStateDocuments/GA-Mtg-Lender-License-Registration-NewApp-Checklist.pdf
Georgia Mortgage Regulator Contact Information:
Department of Banking and Finance
2990 Brandywine Road, Suite 200
Atlanta, GA 30341-5565
Phone: (770) 986-1633 or
Toll Free: (888) 986-1633
Contact the Non-Depository Financial Institutions Division (NDFI) licensing staff by phone at (770) 986-1136 or send your questions via email to dbfmort@dbf.state.ga.us for additional assistance.
Georgia Department of Banking and Finance Website: https://dbf.georgia.gov/
Georgia Financial Institution Bulletin https://dbf.georgia.gov/financial-institutions-bulletin