THINGS THAT REQUIRE ILICENSE REGISTRATION
THINGS THAT REQUIRE ILICENSE LICENSE

Texas is a bustling economy with huge growth potential waiting to be tapped into. What The Mortgage Licensing Group Can Do For You

THINGS THAT REQUIRE ILICENSE LICENSE

When looking to apply for a mortgage license in Texas, consult The NMLS Resource Center for valuable information for mortgage and consumer lending licensing requirements. It is important to comprehensively review and understand the Texas mortgage license requirements before moving forward with any license application.Īll Texas mortgage licenses are managed through NMLS. All courses are NMLS approved and can be taken at your own pace while in per suite of your mortgage license.Įducation is just one requirement. MLG Fast Class is an industry leading education provider, offering both online and in-person courses for mortgage pre-licensure and continuing education. This education needs to be NMLS approved in order to qualify. Additionally, three of those 23 hours must be Texas specific. In Texas, all residential mortgage lenders are required to complete at least 23 hours of pre-licensure education. If you have a Direct Endorsement from the Federal Housing Administration (FHA), you can bypass the state’s brick and mortar requirement by qualifying for the Mortgage Banker Registration. Mortgage companies in Texas are also required to maintain at least one physical office within the state as a condition of licensure. In fact, individuals who might not have been required to be licensed in the past may be required to complete the licensing process. The Texas SAFE Act also requires individuals who may provide clerical or loan processing support as independent contractors to be licensed. Who Needs a Texas Mortgage Company License?Īs a business entity looking to offer or sell residential mortgage loans for money or gain, directly or indirectly, you are going to need a mortgage company license.

Mortgage Loan Originator License (individual license).

THINGS THAT REQUIRE ILICENSE REGISTRATION

Mortgage Banker Registration (company registration).The Mortgage Company License (company license).The state of Texas offers a few licenses for mortgage professionals and companies: There are two regulatory agencies in Texas that oversee the mortgage industry- the Texas Department of Savings and Mortgage Lending (SML) and the Office of the Consumer Credit Commissioner (OCCC) – each with their own set of licensing requirements and fees.

Here are four key things to keep in mind as you move through the process to obtain your Texas Mortgage Company License. To get things started, you need to determine Texas mortgage license requirements.

With the mortgage industry in Texas showing no signs of slowing down anytime soon, now is the time to enter the market. According to NMLS data, mortgage originations by state-licensed companies increased by 20% between 20. This boost to the Texas mortgage license industry is driven primarily by home purchases. According to the 2016 NMLS Mortgage Industry Report, the growth of the industry increased by 14% in the state of Texas. Texas sustained an increase in growth at a quarterly annualized rate of 4.7%, according to the Texas Business Cycle Index, leading to a tightening housing market.Īs the economy of the state continues to grow, the mortgage industry is benefiting, despite recent natural disasters, such as Hurricane Harvey. Everything is bigger in Texas, including the positive economic growth.

Things that require ilicense