How do I become a loan officer in Kansas?

In the state of Kansas, mortgage loan originators are required to:

  1. Complete a Criminal Background Check (CBC).
  2. Authorize a credit report through the NMLS.
  3. Fulfill all state and federal education requirements as designated by your state agency.
  4. Take and pass a National Test.

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Similarly one may ask, do you need a license to be a mortgage loan officer?

MLOs typically come from a background in business, banking, economics, or finance, but it isn’t required. Instead, MLOs must obtain licensure through passing a test, taking pre-licensure education courses, and submitting information for approval by the NMLS.

Regarding this, how difficult is the MLO test? How difficult is the NMLS SAFE Act exam? Passing the exam is not easy… in fact, according to NMLS SAFE test passing rate, the first time pass rate is 54%, and only 46.7% for subsequent attempts. … If an individual fails the test, they have to wait 30 days before being eligible to retake the exam.

Considering this, how do I get my Nmls license in Kansas?

How to Get Your Mortgage License in Kansas

  1. Create an NMLS Account and ID Number Online. Take Your Pre-License Courses. Schedule and Pass the NMLS National Exam.
  2. Initiate Criminal Background and Credit Checks. Turn in Your Kansas Mortgage License Form. Add Your Sponsoring Employer to Your NMLS Account.

How do I train to be a loan officer?

Mortgage Loan Officers need to be licensed by the state in which they do business, which means they must complete the pre-licensing education requirements, pass the state and national SAFE / NMLS exam, then take eight hours of annual continuing education courses to maintain their license.

How much do loan officers make per loan?

Loan officers are the main point of contact for borrowers throughout the mortgage application process at almost every mortgage lender. That’s an important job, right? In return for this service, the typical loan officer is paid 1% of the loan amount in commission. On a $500,000 loan, that’s a commission of $5,000.

How much do loan officers make?

Loan Officers made a median salary of $63,270 in 2019. The best-paid 25 percent made $92,960 that year, while the lowest-paid 25 percent made $44,840.

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