Alabama Mortgage License Requirements
Learn about the Alabama mortgage education requirements for mortgage licensing.
In the state of Alabama, mortgage loan originators are required to:
- Complete a Criminal Background Check (CBC).
- Authorize a credit report through the NMLS.
- Fulfill all state and federal education requirements as designated by your state agency.
- Take and pass a National Test with a grade of 75% or higher.
- Must be covered by a surety bond in favor of the State of Alabama through the company that you are working for or individually obtain a surety bond.
- Cannot have been convicted of any felony in the last 7 years.
- Can never have been convicted of a felony that involved an act of fraud, dishonesty, breach of trust or money laundering.
Alabama NMLS Pre-Licensing Education Requirements:
New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:
- 3 hours of federal law
- 3 hours of ethics
- 2 hours of non-traditional mortgage lending training
- 12 hours of electives
Alabama 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:
- 3 hours of federal law
- 2 hours of ethics
- 2 hours of non-traditional mortgage lending
- 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.
Alabama Mortgage Licensing:
- State Banking Department of Alabama
- Phone: 334-242-3452
- Website: www.banking.alabama.gov
NMLS Resources:
- Alabama MLO License Description Page
- Professional Standards: Mortgage Education
- Professional Standards: Criminal Background Check
- Professional Standards: Credit Report
- Professional Standards: MLO Testing