Iowa Mortgage License Requirements
Learn about the Iowa mortgage education requirements for mortgage licensing.
In the state of Iowa, 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 Iowa.
- Take and pass the National Test.
Iowa 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
Note: Individuals who fail to maintain an active, valid license for at least 3 years must satisfactorily complete the twenty (20) hours of pre-licensing education within the three (3) year period immediately preceding the date of application for licensure.
Iowa 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.
Iowa Mortgage Licensing:
- Iowa Division of Banking and Finance Bureau
- Phone: 515-281-4014
- Email: fblicensing@idob.state.ia.us
- Website: www.idob.state.ia.us
NMLS Resources:
- Iowa MLO License Description Page
- Professional Standards: Mortgage Education
- Professional Standards: Criminal Background Check
- Professional Standards: Credit Report
- Professional Standards: MLO Testing