Have you been looking to get into the mortgage industry in Texas? You first need to learn how to become a licensed mortgage professional and all the licenses you will need. This can help you get started in a successful career that is compliant with the law. To help you, we have covered the different mortgage career opportunities that are available and made a full list of all the licensing requirements for each.
Mortgage Career Paths Available
What is the licensing that’s required for mortgage lenders in Texas? It really just depends on what career path you end up choosing. You can choose from several different mortgage careers, depending on where you want to specialize and what meets your interests. Before you dive into the necessary mortgage licenses in Texas, let’s look at the options you have in the industry:
- Mortgage Loan Originator: They help potential borrowers through the loan application process.
- Mortgage Broker: They are the middleman between lenders and potential borrowers.
- Mortgage Underwriter: Also known as credit analysts, underwriters verify the borrower’s financial condition to decide if they qualify for a loan.
- Mortgage Lender: This is a bank, credit union, or other financial institution that offers and underwrites home loans.
Required Licenses in Texas
Mortgage professionals need to be licensed by the state where they practice their business. This means completing prelicensing education requirements and passing both the state and national NMLS exams, as well as any additional hours of education required.
- NMLS Safe Mortgage License Training
- MLO License: Necessary for those wanting to become an MLO
- Mortgage Broker License: If you want to start a brokering business