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So you want to become a licensed Mortgage Loan Originator (MLO)?  We are here to help navigate you through your mortgage licensing journey.Whether you’re looking for a new career opportunity, in-between jobs, or seeking a side income opportunity – residential mortgage loan origination can be a rewarding and lucrative profession.

In the competitive world of real estate, you’re constantly seeking ways to differentiate yourself and provide greater value to your clients. One compelling strategy is to obtain dual licensing as both a real estate agent and a mortgage loan officer (MLO).  This approach not only enhances your skill set but also broadens your income opportunities and deepens client relationships. Below, we explore the top reasons real estate agents should consider becoming dual licensed.  Further Advantages of Dual Licensing  Recently, the Federal Housing Administration (FHA) revised its conflict-of-interest regulations, paving the way for real estate agents to explore the realm of mortgage loan officer licensing in most transactions. This practice is currently permissible in 45 states.  This newfound duality offers real estate agents a pathway to enhanced income potential, improved client service capabilities, and a multitude of other advantages – particularly within today’s dynamic market landscape. Let’s explore more of these advantages:  Enhanced Expertise and Service Offering  Navigating the real estate market requires comprehensive knowledge. By obtaining an MLO license, real estate agents can bring an added layer of expertise to their services, including:  Comprehensive Client Support: Clients often need guidance on mortgage options, interest rates, and financing strategies. As a dual-licensed professional, you can provide accurate and personalized advice, improving communication flow and making the home-buying process much more streamlined and smoother.  Streamlined Transactions: By handling both real estate and mortgage processes, you reduce the need for clients to work with multiple professionals, thereby ensuring a more seamless transaction experience.  Competitive Edge in the Market  Standing out in the crowded real estate market is crucial for success. Dual licensing offers several competitive advantages:  Differentiation: In an industry where many agents have similar offerings, dual licensing sets you apart as a uniquely qualified professional.  Enhanced Credibility: Clients are more likely to trust and engage with someone who demonstrates extensive knowledge and expertise in all aspects of the buying process.   Meeting Industry Standards and Requirements  Understanding the regulatory landscape is critical for dual-licensed professionals:  Compliance with NAR Guidelines: NAR encourages practices that ensure transparency and fairness. Being well-versed in both real estate and mortgage laws helps you maintain compliance and uphold the highest ethical standards.  Continued Education and Training: Dual licensing necessitates ongoing education, ensuring you stay updated with the latest industry trends, regulations, and best practices.  Steps to Obtain Dual Licensing  Considering these advantages, it makes a lot of sense for real estate agents to research how to become a mortgage loan officer, and the process doesn’t have to be difficult if you understand it. If you’re interested in becoming dual licensed, there are several key steps:  Research State Requirements: Licensing requirements vary by state. Research the specific requirements for both real estate and MLO licenses in your state. Complete Pre-Licensing Education: Enroll in approved pre-licensing courses for mortgage loan origination. Pass Licensing Exams: Successfully complete the respective exams for real estate agents and MLOs. Apply for Licenses: Submit your applications to the appropriate regulatory bodies. Stay Compliant: Adhere to continuing education requirements to maintain both licenses.  Once you’ve decided to become an MLO, the process can be boiled down to six simple steps.  Dual Licensing the Smart Way  Obtaining dual licensing as a real estate agent and mortgage loan officer is a strategic move that can significantly enhance your career. It allows you to provide comprehensive support to clients, increase your income potential, and gain a competitive edge in the market. By investing in dual licensing, you position yourself as a versatile and valuable asset in the real estate industry.  Ready to take the next step? Explore OnCourse Learning’s comprehensive licensing programs to start your journey toward an MLO career. Our expert-led courses are designed to equip you with the knowledge and skills needed to excel in both real estate and mortgage loan origination. Stay ahead in the industry – expand your expertise and grow your career with OnCourse Learning.  OnCourse Learning has the NMLS-approved pre-licensing training designed to help you get a mortgage loan originator license in any state – get started today here. 

We don’t have to tell you that financial literacy and education are vital aspects to financial institutions. But do we truly understand why? Read on to understand and embrace why we need to assist our financial institution customers, how to increase their financial literacy, and how to educate them on financial topics important to their lives.

Recent rapid advances in artificial intelligence (AI) have created immense potential for simplifying L&D processes and developing training programs more efficiently than ever. It’s a pivotal time to explore and leverage the capabilities of generative AI for course development. Are you prepared to leverage the opportunities and manage the risks?

We continually review our Financial Services online courses to ensure the accuracy and relevance of the content for your learners and regularly revise our content to reflect the latest legislation. Here’s a summary of the March 2024 online course updates and the specific changes made this month.

There were two noteworthy regulatory and compliance updates for banks and credit unions in March of 2024. Below are the details on these changes and how they affect you and your institution.

If you’re not familiar with the industry, the process can be overwhelming. Although not a requirement, a bachelor’s degree and some experience in finance and sales is helpful for starting a mortgage broker career.

Women in banking and their day-to-day work experiences have been a topic in diversity and gender gaps for decades. While challenges still exist, research shows that some progress has been made.

Learn all about the state of learning and development in financial services.