Illinois Mortgage License Requirements
Application Requirements to become licensed in Illinois:
| Description | Requirement |
|---|---|
| Temporary Authority to Operate Eligible | Yes |
| Application Fee | $0.00 |
| License Registration Fee | $200.00 |
| NMLS Processing Fee | $35.00 |
| Sponsorship Fee* | $50.00 |
| Credit Report Required | $15.00 |
| Criminal Background Check Required | $36.25 |
| Testing Required | Yes, passing score of 75% or higher |
| SAFE MLO Test Cost | $110.00 |
| Work Remote Allowed | No |
*Note: An applicant needs to be sponsored by an Illinois Residential Mortgage Licensee.
Illinois NMLS Pre-Licensing Education Requirements:
New state-licensed MLOs and Temp Military individuals are required to complete 20 hours of NMLS-approved education. This includes:
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3 hours of federal law
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3 hours of ethics
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2 hours of non-traditional mortgage lending training
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12 hours of electives
Illinois has implemented PE Expiration Policy where PE education generally expires after 3 years of not holding a license/registration in any jurisdiction.
Illinois Continuing Education Requirements:
State-licensed MLOs are required to complete 8 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:
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3 hours of federal law
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2 hours of ethics
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2 hours of non-traditional mortgage lending
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1 hour of electives
MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.
Illinois Department of Financial and Professional Regulation Contact Info:
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Phone: 844-768-1713
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Website: www.idfpr.illinois.com
