Become a Mortgage Loan Originator
With a TX MLO License

An MLO license is a Mortgage Loan Originator license. The license is issued by the Texas Department of Savings and Mortgage Lending. It authorizes a compensated individual to take residential mortgage loan applications and negotiate the terms of residential mortgage loans secured by properties located within the state of Texas.

Several Texas MLO license requirements must be met before obtaining a license.

• Complete 20 hours NMLS approved of pre-licensing coursework which includes 3 hours of Texas-specific content.
• Sit for the National Mortgage Loan Originator test and pass the exam.
• Pay the required license fees through the Nationwide Multistate Licensing Service (NMLS). Attach the application with details of residency and employment history.
• Complete fingerprinting to clear criminal background checks by the state and federal agencies.
• Submit a credit report that proves you can take financial responsibility.
• Be covered under an employer’s lending bond.

The Texas Department of Savings and Mortgage Lending (TXSML) issues an MLO license in New York after these conditions are met.

The TXSML charges a license/registration fee of $120 which includes a $20 Recovery Fund Fee.
Additional fees of $36.25 are for a FBI criminal background check, NMLS processing fee of $30, and a $15 credit report charge.

There is also the cost of completing an MLO license course in Texas. The Texas 20-hour MLO pre-licensing course is offered by RealEstateU for $199.

After completing the NYS MLO pre-licensing course, you must pay $110 to take the National MLO SAFE test.

The total Texas MLO license cost works out to $510.25.

Several factors determine the time it takes to get an MLO license in Texas.

• It takes about two weeks to obtain a unique identification number from NMLS. This period includes time taken for documentation and background checks.
• The pre-license coursework is 20 hours and this will take 14 days to complete even if you study at your preferred pace.
• Schedule and pass the SAFE ACT MLO test.
• Next, the TXSML will review your application and the time for it depends on the number of pending new applications. Typically, the time taken at this stage is thirty to sixty days.

Hence, you can get an MLO license in Texas in 2 to 4 months after all the variables given above are considered.

The Texas MLO license education requirements include the 17-hour National SAFE course, plus the 3-hour Texas specific module. That's a total of 20 hours of coursework.

Check out the RealEstateU MLO license course in Texas that covers both the National and state-specific sections.

If you act as a mortgage loan originator for pay or other compensation on behalf of a non-depository lender offering residential mortgage loans secured by real estate located in the state of Texas, you are required to obtain a Texas Mortgage Loan Origination (MLO) license. Acting as a mortgage loan originator means taking residential mortgage loan applications and/or negotiating the terms of residential mortgage loans.

Independent Contractor mortgage loan processors and mortgage loan underwriters are also required to obtain this license.

Yes. The 17-hour SAFE course can be taken online as an instructor-led course that is taken over a 14-day period. The 3-hour TX state module is an online self-paced course that can be completed on your own schedule.

After completing the RealEstateU 20-hour coursework, you can apply online for an MLO license through the NMLS. However, you must go to an in-person center to submit your fingerprints and sit for the MLO SAFE ACT test.

An individual who has a Texas Mortgage Loan Originator license can negotiate residential mortgage loan terms and take residential mortgage loan applications that have as security or collateral residential real estate located in Texas. In addition to “Mortgage Loan Originator”, some companies have titles such as “Loan Consultant,” “Mortgage Loan Officer,” or simply “Loan Officer” that apply to individuals filling these roles.

An individual can also be an Independent Contractor mortgage loan processor or mortgage loan underwriter with a Mortgage Loan Originator license.

Generally, Mortgage Loan Originators in Texas work on commission. This might be a straight commission, some sort of draw against future commissions arrangement, or perhaps as salary plus commission.

Texas MLO Employers who hire entry -evel mortgage loan originators understand that training and building a “pipeline” of business takes some time, so they may pay an initial salary.

Some jurisdictions in TX require general licenses for any business operating there. To get a license, register your business with the TX Secretary of State and obtain a Certificate of Authority or Good Standing Certificate.

Starting an independent mortgage brokerage business in Texas will require that you complete the process of obtaining a TX Mortgage Company License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.

Texas is a large, diverse, growing, highly populated state, and business conditions vary greatly between cities and counties.

Texas is the 2nd most populous US state with a population of over 30 million. Hence, there will always be a high demand for housing, leading to a need for residential mortgage loans. The sheer size of the residential housing market makes Texas a great place for the mortgage business.

First, think about your career goals before searching for a company in Texas to join as a Mortgage Loan Originator.

Do you want to be a neighborhood lender, developing your source of business within a community or network? Or do you prefer the pace of a volume-driven phone bank where numerous leads crop up every day?

After deciding on this aspect, search for and find MLO employers that fit your MLO career goals.