How to Become a Loan Originator

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A person's ability to become a loan originator is covered by state licensing guidelines, which may require that a course be taken. Score high enough on a state exam to become a loan originator with help from a financial specialist in this free video on loans and money management.

Part of the Video Series: Loan Information
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Video Transcript

Hi, my name is Matt Mckillen; I'm with Innovated Financial Group. Question posed to me today is how do you become a loan originator in the mortgage industry? Basically it's covered primarily by state licensing guidelines. For example here in the state of Florida where I have my business it does require that you take a course. You must take this course. It's a, it's a school that's approved by the state of Florida and then what happens is you take that course and then you have to go and take a state exam. They want you to have the basic underlying principals and knowledge of the loan process, and how it works, and also quite a bit of real estate knowledge. After you've passed that course and you take the state exam; you have to score 70% then at that point you can apply for a mortgage broker's license. And you have to hang that license with an experienced principal mortgage business. So there is a process involved. There's a bit of cost involved. They do background checks and fingerprint cards but that is at least in the state of Florida, the process for becoming a loan originator. My name is Matt Mckillen; I'm with Innovated Financial Group.

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