I have received a lot of questions the past few days regarding the steps to obtain a Loan Officer’s License.

For all the details, please watch this video.

The first step is to register for a class. Namir George offers an in-person class once a month. The next class actually starts tomorrow.

REGISTER FOR IN-PERSON CLASS

If you’d like to take an online class, here’s the school we recommend,

REGISTER FOR ONLINE CLASS

Here’s a breakdown of the fees involved,

​20 Hour Class                $259 to $335

​Exam                              $110

Michigan License           $50

NMLS Processing          $30

NMLS Registration        $250

Credit Report                 $15

Background Check        $36

Surety Bond                  $75

Total                              $825 to $900​

FYI…  NMLS is the Nationwide Multistate Licensing System. They govern loan officer licenses across the country.

If you’d like more info, here’s a link to their website,

​NMLS Resource Center

The other questions is how are you paid as a Loan Officer?

You will receive .5% of the mortgage amount.

For example if the mortgage amount is $200,000, you’ll receive $1,000

If you have any questions for Clark, here’s his new contact info,

Clark Sexton

Broker | Owner

IRON MORTGAGE

734 . 564 . 3530

clark@iron.mortgage

If you have any questions for me, please feel free to contact me anytime. I am always here to help.

Thanks!

Craig