How to Become a Loan Officer in Arizona

Becoming a loan officer in Arizona is a great way to enter the financial industry. There are many schools that offer loan officer programs, but not all of them are created equal. This guide will show you how to become a loan officer in Arizona by choosing the right school and program.

Checkout this video:

Introduction

A loan officer is a professional who helps people obtain loans from banks, credit unions, and other financial institutions. They work in a variety of settings, including commercial banks, mortgage companies, and credit unions. Loan officers must be licensed in the state in which they work.

In order to become a loan officer in Arizona, you will need to complete the following steps:

1. Complete a loan officer training program.
2. Pass the Arizona State Loan Officer Examination.
3. Obtain a surety bond.
4. Register with the Arizona Department of Financial Institutions.

Once you have completed these steps, you will be able to begin working as a loan officer in Arizona.

What are the requirements to become a loan officer in Arizona?

Loan officers play an important role in the financial industry. They help people get the loans they need to buy homes, start businesses, and pay for education. If you’re interested in becoming a loan officer in Arizona, there are a few things you need to know. In this article, we’ll cover the requirements to become a loan officer in Arizona.

Mortgage Loan Originator License

In order to become a licensed mortgage loan originator (MLO) in Arizona, you must:

-Be at least 18 years old
-A U.S. citizen or legal resident alien
-Submit to a criminal background check
-Complete 20 hours of NMLS-approved education
-4 hours of federal law
-4 hours of ethics (which may be included in the federal law instruction)
-12 hours of undefined instruction topics related to mortgage loan origination activities, and may not include any topics related to real estate unless a portion of the 12 hours is completed in an interactive classroom setting that allows for immediate instructor feedback and adequate time for questions and discussion among students
-Pass the SAFE MLO Test with a score of 75% or better

Pass the SAFE MLO Test

You will need to pass the SAFE MLO Test to become a licensed loan officer in Arizona. The SAFE MLO Test is a national exam administered by the NMLS. You will need to register for the exam with the NMLS and pay a fee. The test is made up of multiple choice questions and covers four main topic areas: federal lending regulations, general mortgage knowledge, mortgage lending ethics and principles, and mortgage math.

How to get your Mortgage Loan Originator License in Arizona

You will need to take an MLO course that is at minimum 20 hours and submit your fingerprints for a background check to the NMLS. After you have completed these steps, you will then need to take the state exam.

Submit an Application to the NMLS

The Nationwide Mortgage Licensing System (NMLS) is a web-based system that allows companies and individuals to submit and update licensure applications, track their licensure statuses, and renew licenses.

Individuals who wish to become licensed as a mortgage loan originator in Arizona must complete the following steps:

1. Complete the required pre-licensure education courses.
2. Pass the National Mortgage Licensing System (NMLS) Uniform State Test (UST).
3. Submit an application to the NMLS.
4. Obtain a surety bond or irrevocable letter of credit in the amount of $5,000.
5. Satisfy any additional requirements imposed by the state regulator.

Complete the Required Education

You must complete 20 hours of NMLS-approved education to obtain your mortgage loan originator license in Arizona. Of the 20 hours, 3 hours must be related to federal law and regulations, 2 hours must be related to ethics, and 2 hours must be related to non-traditional mortgage lending. The remaining 11 hours can be electives.

You must complete your education within one year of submitting your initial license application to the NMLS. You will need to take a final exam at the end of your coursework and receive a passing score in order to satisfy the education requirements for your MLO license.

Once you have completed your education, you will need to submit a Certificate of Completion to the NMLS as part of your license application.

Pass a Background Check

To obtain your Mortgage Loan Originator (MLO) license in the state of Arizona, you must first pass a background check. The Nationwide Mortgage Licensing System & Registry (NMLS) will conduct a criminal background check through their Consumer Access portal. You will need to provide your personal information, including your Social Security number, so the NMLS can run a report.

If you have ever been convicted of a felony, or a misdemeanor related to money laundering, fraud, or making false statements on a loan application, you will not be eligible for an MLO license in Arizona. You may still be able to obtain an MLO license if you have had certain nonviolent misdemeanors on your record, but you will need to disclose this information on your application and provide additional documentation.

## Title: 5 Ways to Get Your Kids to Eat More Veggies
## Heading: Make it Fun
## Expansion:
Eating more vegetables does not have to mean eating boring food. In fact, some of the most delicious foods are packed with veggies. Here are five ways to make eating vegetables more fun for your kids:

1. add veggies to their favorite foods: If your kids love spaghetti and meatballs, try adding some grated zucchini or carrots to the meat mixture. Or sneak some pureed cauliflower into their mac and cheese. They’ll never know the difference!
2. let them help in the kitchen: Kids are more likely to eat what they help make. So next time you’re cooking dinner, let them wash the veggies, stir the pot, or put the ingredients into the blender.
3. turn it into a game: Make a challenge out of trying new vegetables or seeing how many different colors of veggies they can eat in one day. 4. turn boring veggies into fun shapes: Use cookie cutters to turn boring broccoli florets into princesses or dinosaurs. Or use a veggie peeler to make “noodles” out of carrots or zucchini.
5. serve it with dip: Most kids love dipping their food in something tasty. Serve raw veggies with ranch dressing, hummus, or salsa for an added boost of flavor (and nutrition!)

How to Prepare for the SAFE MLO Test

To become a licensed loan originator in the state of Arizona, you must first pass the SAFE Mortgage Loan Originator Test. Prior to taking the test, you must complete 20 hours of pre-licensing education, which must include:

3 hours of Federal Law
3 hours of Ethics
2 hours of Non-traditional Mortgage Lending
12 hours of Undelivered Mortgage Loan Origination Topics which must include:
3 hours of mortgage loan originator duties
3 hours of mortgage loan originator compensation
3 hour sof closing documents related to a residential mortgage transaction
2 hour sotransactional process related to a residential mortgage loan​

Conclusion

The state of Arizona requires loan officers to have a mortgage loan originator (MLO) license. There are a few requirements that you will need to meet before you can apply for this license. You will need to be at least 18 years old, have a high school diploma or equivalent, and pass a background check and fingerprinting. You will also need to complete 20 hours of pre-license education and pass the state examination. Once you have met all of these requirements and obtained your license, you will be able to work as a loan officer in the state of Arizona.