How Do I Become a Mortgage Broker in Tampa Online?

Learn how to become a mortgage broker in Tampa.

As of 2010, the Florida Office of Financial Regulation has implemented more rigorous standards for the mortgage industry. These standards will set higher expectations for professionals and better protect and provide for consumers. They apply to a new mortgage broker setting up a business in Tampa.

Instructions

1. Fill out an application for Mortgage Broker License: Form OFR-494-03. This should be filed online at flofr.com, but can be filed in another manner if there is a technological or financial hardship. A non-refundable fee of $238.25 is required when applying for the initial license. This fee is composed of a $195 application fee and a $43.25 fingerprint card fee. This form will require your current contact information, any previous names, residential and employment history, professional licenses and certifications and disclosure questions.

2. Register for the 2-hour mortgage broker National Mortgage Licensing System and Registry pre-licensing course. The Florida Mortgage Broker School is located in Tampa and offers this course as a classroom equivalent, with an instructor teaching the class online in a webinar environment. The cost for the class through this school is $299. The Florida Association of Mortgage Professionals also offers the course for $269, but currently does not offer the course in an online format.

3. Take the National SAFE Exam. Enrolling for this exam and scheduling an exam appointment can all be accomplished on the NMLS website. You will be required to pass both the national component and the state (Florida) component of the exam. The administration fee for both components will be $161.

4. Submit a national application Form MU4 through NMLS. This form will include residential and employment history, all names/aliases, and documentation of the fulfillment of state and educational requirements. This will also include a criminal background check and credit report. Every mortgage broker is required to complete a criminal background check with the submission of their licensure information. Applicants must be prepared to answer questions regarding any negative information from either the background check or the credit report.

5. Complete continuing education courses to ensure the renewal of your license every two years. In Florida, this is a 14-hour course with a mandatory test.

References

• Broker School: Online
• NMLS: Florida Transition Plan
• FAMB: FAMB School for Pre-Licensure
• NMLS: Testing
• NMLS: Loan Officer Filing (PDF)

Resources

• Florida Office of Financial Regulation: Continuing Education for Mortgage Brokers & Lenders