How to Become a Loan Officer in Ohio
If you’re looking for a step-by-step guide on how to become a loan officer in Ohio, you’ve come to the right place.
This is a wonderful career path that calls for nothing more than hard work and a passion to work with people from all walks of life.
The loan officer industry is thriving and there are a lot of opportunities for the right candidate. You could be one of them.
The first step is to understand what it takes to become Mortgage Loan Originator (MLO) certified in the state of Ohio.
Let’s explore the steps to acquiring your loan officer licensure.
Step 1: Set Up Your NMLS Account
When you research how to become a loan officer in Ohio, you’ll find a common starting point; create your NMLS profile.
All MLO licenses are approved and granted by the Nationwide Multi-State Licensing System and Registry (NMLS). NMLS allows loan officers to apply for and renew their license online.
Start by creating an account on the official NMLS portal. The process that follows is very simple and should take you a couple of minutes.
At the end of this, you will have a unique NMLS ID that can later be connected to your MLO license.
Step 2: Complete Pre-Licensing Education
Prospective loan officers in Ohio looking to get a license must complete a mandatory 24-hour NMLS recognized course.
This includes 20 hours of S.A.F.E. pre-licensure training and an additional 4 hours of Ohio state-specific education.
Once you complete the coursework, you will be able to register for the test through your NMLS profile and pay the required fees.
It’s very important to complete your pre-licensing education at a certified NMLS-recognized school.
Here are some institutions worth checking out.
1. Loan Officer School
Loan Officer School provides topical industry-related training through online-only courses.
They offer a wide range of educational materials to prepare you not just for the exam, but for the actual job; webinars, mock tests, personal coaching and sales training.
Loan Officer School has some pretty great reviews: TrustLink Reviews
2. Mortgage Educators and Compliance (MEC)
Mortgage Educators and Compliance is an NMLS-approved school that offers online instructor-led courses for the 20 hour S.A.F.E material.
The additional 4 hours of Ohio state electives is an online self study course.
3. Hondros College
Another school that you should have on your radar is Hondros College. They provide a comprehensive set of prep tools through online and in-class settings to help you pass your MLO exam.
You can also complete your CE Continuing Education here to retain your MLO license.
Before making a decision, check out their Yelp reviews. For the most part, they’ve received a stellar endorsement from past students.
Feel free to check out the list of approved NMLS schools here: NMLS-Recognized Schools
Step 3: Obtain a Passing Score on the MLO Exam
This section briefly covers the examination requirements associated with how to become a loan officer in Ohio.
The loan officer exam is pretty standard and there’s no need to be nervous about it.
It will be a multiple-choice computer generated exam that takes you through 125 questions. You have roughly 3 hours to complete it.
Once you acquire passing scores on both the National and State Components, you only have a handful of formalities to complete.
You’re that much closer to getting a brand new Ohio MLO license.
Step 4: Complete the Background Check and Fee Payment
Next, you will have to login to your NMLS account and follow the on-screen steps to apply for your loan officer license in Ohio.
You will also be asked to submit a credit and fingerprint report, and complete a Criminal Background Check (CBC).
After paying the required fees, you’re all set to tackle the very last step.
Step 5: Acquire Sponsorship With a Recognized Employer
To fully activate your Ohio loan officer license, you will have to get hired by a state-approved employer. This sponsorship lets the government know that any activities conducted through your license are being supervised.
It’s time to begin your MLO journey with confidence.
Follow the above steps carefully. You should be able to start your career as a loan officer in Ohio with little to no obstacles along the way.
Do you want to learn more about becoming a loan officer?
Check out our comprehensive guide on How to Become a Loan Officer in 7 simple steps.
We also recommend you take a look at the NMLS website for Ohio’s State Licensing Requirements.