We are hiring active real estate agents that want to attract and retain more clients by delivering an unparalleled level of expertise by adding mortgage consulting to their list of professional services. We are also hiring Senior Loan Officers to work with our growing network of "dual capacity" real estate agent partners.

About our program: Real estate agents can now, per HUD Mortgagee Letter 2022-22, receive a real estate commission up to $4000 for basic mortgage consulting on the same transaction. Equipped with a Mortgage Consulting license, real estate agents will now be able to educate their clients better on the basics of loan products and the loan process ensuring an overall smoother transaction for everyone. One of our senior loan officers (with over 25 years’ experience) will handle all the application, processing and funding details. For additional information contact Mark Peterson at 541 953-4903.

Step 1: Do I qualify for a Mortgage Consulting license?

Generally speaking, states are looking to see that you demonstrate the character and general fitness that commands the confidence of the community and creates a belief that you will conduct business honestly and fairly.  You are not eligible if you have been convicted of a gross misdemeanor involving dishonesty or financial misconduct, or a felony involving fraud, dishonesty, breach of trust, or money laundering, within the last seven years. A particular credit score is not required.  Outstanding tax liens & non-medical judgments, collections, foreclosures and bankruptcies within the last three years will most likely require written explanations and possibly proof of payment arrangements for the liens, collections and judgments. Tax liens greater than $100,000 are usually a disqualifying event.

Step 2: Setting up your new NMLS account

Start your journey to become a Mortgage Consultant with our company by requesting an NMLS account (click here) through the Nationwide Mortgage Licensing System (NMLS). The NMLS is the official system for individuals seeking to apply for, amend, renew and surrender a license. Important note: You will be creating a “State-Licensed” and “Individual” account.  Your NMLS ID that will be associated with your education certificates.

Step 3: Receive your personal NMLS ID number

Once you’ve registered your account with the NMLS, you’ll receive an individual NMLS ID number to use throughout your career as a Mortgage Consultant. Listing this ID next to your name whenever conducting yourself as a Mortgage Consultant is required by law (email, text, advertisings, etc.). This same ID is used for your license in any other states you might consider. Consumers can also “look up” your individual ID on the NMLS Consumer Access site to verify your licensure and see any complaints and/or enforcement orders that may exist.

Step 4: State-specific licensing requirements

Check the state-specific licensing requirements through NMLS Resource Center, State Licensing website. Here, you’ll find the additional steps required to obtain your license. You will need to complete this step in all other states you are interested in.

Step 5:  National and state licensing coursework

Complete the required 20 to 22 hours in total of pre-licensing coursework. Pre-licensing classes for becoming a Mortgage Consultant cover a range of topics from mortgage industry fundamentals to ethics and professional conduct. In Oregon, a total of 20 hours is required (16 hours for federal rules and 4 for state specifics rules).  Washington requires a total of 22 hours (18 federal and 4 state). Idaho requires a total of 20 hours (18 federal and 2 for state).  We recommend Mortgage Educators and Compliance (MEC) as a pre-licensing coursework provider. Our lender has negotiated a bulk pricing discount that is applied when using this link. The 16 hours of federal prelicensure education is different than the continuing education you are used to in that you will choose a time frame (3, 5, 10 14 days) for which to complete the required hours.  All education providers are required to use this format. The state specific hours are taken on your own schedule. Using the link above, learn about the course requirements first then select from the drop-down menus accordingly. Be sure to select both the “National” hours and the “State” hours you wish to be licensed.

Step 6: Prepare for the National SAFE Test

After you’ve completed your pre license education it’s time to study for your SAFE exam. When purchasing the hours (using the link provided above) we recommend also selecting the “Ultimate Test Prep” course offered. This is recommended to ensure you pass the test on the first attempt.  A minimum of 30 days between taking exams is required if not passed the first time. Should this be the case, simply let us know and we’ll extend the time needed to complete the process accordingly. Once these courses are complete you can then register to take the exam.

Step 7: National SAFE exam

To obtain your Mortgage Consulting license, you’ll need to pass the NMLS’s SAFE Mortgage Loan Originator Test with a score of 75% or higher. The SAFE exam will cost ~ $110. If you do not pass the SAFE exam, you’ll have to wait 30 days to take it again. To schedule your test, log in to your NMLS account, click the “NMLS Navigation” link (upper left corner) then “MLO Testing and Education”.

Step 8: Background check and fingerprinting

Before you officially have your Mortgage Consulting license, you must complete a Criminal Background Check using your NMLS account. You must also make an appointment to have your fingerprints taken at any number of local options available, which can also be arranged through the NMLS portal as well. The current cost of your background check and fingerprinting is $37.  To request a background check and schedule your fingerprinting log in to your NMLS account >Filing Tab>Individual>Request New/Update.

Step 9: Requesting your license

Once you’ve passed your exam and completed your background checks you’re now ready to request your state specific license! Log in to your NMLS account, click the “NMLS Navigation” link (upper left corner) then “NMLS Record”, then “Individual” to request your license. The cost to submit your application last we checked was: $30 NMLS application fee, $80 state application fee and a $15 credit report fee.

Step 10: Sponsoring your license (for those whom we have already agreed to hire)

You will need to allow us access to your account in order for us to request sponsorship of your license.  To do this, log in to your NMLS account, click the "NMLS Navigation" link in the upper left corner then "NMLS Record", then "Company Access".  Choose Western Mortgage Brokers, Inc. (NMLS #220343). You will also need to update your employment history by adding us as a current employer with an effective date of today’s date.