How to get Iowa Mortgage Loan Originator Prelicensing Education PE and IA 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 IA 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 Iowa MLO License through the NMLS system prompt you at this point for your next steps after opening your IA Mortgage Loan Originator application.
Questions about qualifications on any part of the process? Use the chat feature on the bottom right of this webpage or click here and get answers fast!
Iowa MLO Pre-licensing Requirements
Iowa 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 the Iowa IA MLO 20 Hour SAFE course. 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 12 hours of undefined education (referred to as electives). Number of hours is 3/3/2/12 = 20 Iowa does not have a requirement for instruction on state-specific law. This state is a UST state and has adopted the Uniform state test added to the National test. If you want to be licensed in this state and have not taken the newest National test with UST included. Then you will want to take the UST stand alone. To purchase study material click here
IA Continuing Education Requirements
If you are already a licensed MLO in the state of Alabama you don’t need to take PE (unless you have been instructed by the NMLS to do so). You do need to complete at least 8 Hours of NMLS approved continuing education every year following the completion of your PE requirements. Our 8 Hour SAFE course satisfies these requirements. Click here to get your Iowa MLO 8 Hour CE Course Online!
Iowa Mortgage Regulator Contact Information
Iowa Division of Banking
200 East Grand Avenue, Suite 300
Des Moines, IA 50309-1827
Phone: 515-281-4014
Fax: 515-281-4862
Business Hours:
Monday - Friday
8:00am - 4:30pm CST
Contact Iowa Division of Banking Finance Bureau licensing staff by phone at (515) 281-4014 or send your questions via email to fblicensing@idob.state.ia.us for additional assistance.
Iowa Division of Banking which is the Iowa Mortgage Regulator website address: https://www.idob.state.ia.us/
How much does a IA MLO license cost? $31.25 itemazed as follows:
NMLS Initial Processing Fee: $30
IA License/Registration Fee: $50
Credit Report: $15
FBI Criminal Background Check: $36.25
Iowa MLO NMLS Checklist IA Originator Licensing Information
Iowa Mortgage Loan Originator Licensing Information Checklist https://nationwidelicensingsystem.org/slr/PublishedStateDocuments/IA-MLO-License-New-Application-Checklist.pdf
Iowa Mortgage Broker Licensing Information and Checklist: https://nationwidelicensingsystem.org/slr/PublishedStateDocuments/IA-Mortgage-Broker-License-New-Application-Checklist.pdf
Who has to be licensed in IA as an MLO or Processor?
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. Iowa Mortgage Loan Originator Code link PDF Iowa Code 535D.4