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Mortgage News Daily combines the expertise of some of the housing industry's leading minds with the power of social media to offer an always lively, constantly evolving web community. MND communicates breaking news, streams video, and provides expert opinion and commentary to a community of interested market professionals and curious consumers.Become A Mortgage Broker In Louisiana
In Louisiana the
Office of Financial Institutions, (OFI) handles all aspects of licensure and
registration for Mortgage Originators and Brokers. All Louisiana mortgage licenses are
handled through the Nationwide
Mortgage Licensing System. Prelicensing requirements include approved courses
that are 24 or more hours and contain 3 hours of Federal Law, 3 hours of Ethics, 2 hours
of Non-traditional Mortgage Lending plus 12 or more hours of electives. This may be in
addition to Louisiana-required content. A minimum of eight hours per year of continuing
education is required nationally per year, per the SAFE act.
The licensing fee for NMLS for Loan
Originators is $169. The licensing fee for a broker/lender
is $500. Click on the links in the preceding sentences for more details about each
license.
Applicants who desire to become a Mortgage Broker in Louisiana need to provide audited
financial statements reflecting a net worth of at least $50,000, or provide a Surety Bond
in the amount of $50,000, or pledge a $50,000 deposit in a federally insured institution,
or pledge $50,000 in securities SCMs or US Government to the Commissioner.
To become a Mortgage Broker in Louisiana one is not required to maintain an in-state
office. However, there is an examination fee per location plus reasonable and necessary
expenses connected with an examination. If records are kept at a residential location,
they must be moved to an approved nonresidential location for review or examination.
The Louisiana Mortgage Lenders Association (LMLA), is
an affiliate of the National Association of Mortgage Brokers
(NAMB). Both organizations are dedicated to improving the business of real estate finance
and are a true asset to those who desire to become a Mortgage Broker in Louisiana.
Louisiana Mortgage Forms
|
Louisiana Reciprocity States
|
- Most mortgage forms can be obtained online. Ones listed below
pertain to new salespersons and brokers.
- Loan
Originator Application
- Broker/lender
application
|
N/A
(as of 2/23/2010)
|
Louisiana Approved Mortgage Schools Prelicensing and Postlicensing
Education
|
Community Colleges
N/A |
Private Schools
Abacus Mortgage Training
McKissock.com
TheMortgageTrainingCenter.com
Training Pro
|
Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Office of Financial Institutions
website for the latest list of approved schools. |
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This email was sent to you by:
|
Mortgage News Daily
|
 |
Anonymous Anonymous |
|
Message:
YOUR MESSAGE HERE
Become A Mortgage Broker In Louisiana
In Louisiana the
Office of Financial Institutions, (OFI) handles all aspects of licensure and
registration for Mortgage Originators and Brokers. All Louisiana mortgage licenses are
handled through the Nationwide
Mortgage Licensing System. Prelicensing requirements include approved courses
that are 24 or more hours and contain 3 hours of Federal Law, 3 hours of Ethics, 2 hours
of Non-traditional Mortgage Lending plus 12 or more hours of electives. This may be in
addition to Louisiana-required content. A minimum of eight hours per year of continuing
education is required nationally per year, per the SAFE act.
The licensing fee for NMLS for Loan
Originators is $169. The licensing fee for a broker/lender
is $500. Click on the links in the preceding sentences for more details about each
license.
Applicants who desire to become a Mortgage Broker in Louisiana need to provide audited
financial statements reflecting a net worth of at least $50,000, or provide a Surety Bond
in the amount of $50,000, or pledge a $50,000 deposit in a federally insured institution,
or pledge $50,000 in securities SCMs or US Government to the Commissioner.
To become a Mortgage Broker in Louisiana one is not required to maintain an in-state
office. However, there is an examination fee per location plus reasonable and necessary
expenses connected with an examination. If records are kept at a residential location,
they must be moved to an approved nonresidential location for review or examination.
The Louisiana Mortgage Lenders Association (LMLA), is
an affiliate of the National Association of Mortgage Brokers
(NAMB). Both organizations are dedicated to improving the business of real estate finance
and are a true asset to those who desire to become a Mortgage Broker in Louisiana.
Louisiana Mortgage Forms
|
Louisiana Reciprocity States
|
- Most mortgage forms can be obtained online. Ones listed below
pertain to new salespersons and brokers.
- Loan
Originator Application
- Broker/lender
application
|
N/A
(as of 2/23/2010)
|
Louisiana Approved Mortgage Schools Prelicensing and Postlicensing
Education
|
Community Colleges
N/A |
Private Schools
Abacus Mortgage Training
McKissock.com
TheMortgageTrainingCenter.com
Training Pro
|
Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Office of Financial Institutions
website for the latest list of approved schools. |
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.