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How to apply for a loan originator license
1. HOW TO APPLY FOR AN
OREGON LOAN
ORIGINATOR LICENSE
Division of Finance and Corporate
Securities
2. Cautions about this
Presentation
The screen shots in this presentation are taken
from the NMLS training environment, not the real
NMLS. They may vary slightly in the real NMLS.
This presentation follows a fictitious person
making a filing for a loan originator application in
the NMLS. None of the person’s information is
real or intended to reflect any real person.
The circles and arrows seen on the screen shots
in this presentation are NOT actually in the NMLS.
They are simply to draw your attention to the
correct portion of the screen.
3. Loan Originator Licensing
Requirements
Complete 20 hours of pre-licensure education;
Pass an NMLS-approved S.A.F.E. national test;
Pass an Oregon test;
Submit fingerprints for an FBI background check;
Not have a conviction for a felony within the past 7 years or
have ever been convicted of a felony that involved an act of
fraud, dishonesty, a breach of trust, or money laundering;
Authorize the NMLS to obtain a credit report;
Demonstrate financial responsibility;
Submit an application through NMLS (MU4 Form);
Have, or be covered by, a surety bond as required by DFCS;
and
Have not had a mortgage license revoked in any state.
4. Education Requirements
Certification in NMLS by the state
OR
20 hours of NMLS-approved pre-licensure
education
5. Qualifications for Education
Certification by Oregon
Completed 20 hours of MLEB-approved
education at any time prior to December 31,
2009
Name on Education Certification List
AND
Apply for Oregon loan originator license
through the NMLS by May 31, 2010
10. Education Certification List
If name is on the list, then nothing more needed
now.
Certification list will be finalized and sent in early July
You will be contacted by NMLS to attest to certification
and pay fee, then it’s final and will be posted on
NMLS
If name is NOT on the list, you need it to be on the
list and you qualify or if it is not your legal name
on the list, send certificate(s) or corrections to
Kirsten Anderson
Via e-mail to Kirsten.L.Anderson@state.or.us
Via fax to (503) 947-7862 (include a cover sheet) or
15. State Test
Only the Applied Measurement Professionals
(AMP) test qualifies
No “grandfather”
No CompUSA/Cerebra
16. Qualifications for Testing
Certification
Pass AMP test at any time while it is offered
Name on Test Certification List
AND
Apply for Oregon loan originator license
through the NMLS by June 30, 2010
20. Testing Certification List
If name is on the list, then nothing more
needed now.
Certification list will be finalized and sent in mid-
to-late July
You will be contacted by NMLS to attest to
certification and pay fee, then it’s final and will be
posted on NMLS
If name is NOT on the list, send certificate to
Kirsten Anderson
Via e-mail to Kirsten.L.Anderson@state.or.us
Via fax to (503) 947-7862 or
Via mail to PO Box 14480, Salem OR 97309
83. Once you have submitted your application
and granted the company access, you have
completed what you are required to
complete in NMLS to apply for your Oregon
license.