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MORTGAGE LOAN ORIGINATORS
License Description LOAN OFFICERS SOC Code 13-2072 Entry Salary $24.56/hour Average Salary $31.43/hour Job Description Mortgage loan originators typically work with a borrower to complete a mortgage transaction. This may include interviewing mortgage applicants, screening initial loan requests, collecting financial information to be used in the loan underwriting process, and monitoring the loan from application to closing. Requirements 1. Complete an individual application form through the Nationwide Mortgage Licensing System (NMLS) website (http://mortgage.nationwidelicensingsystem.org/Pages/default.aspx) 2. Provide certification of 20 completed hours of pre-licensure education courses. 3. Obtain a passing grade on both the state and national components of the SAFE test. 4. Provide fingerprints for background check. 5. Authorize a credit report. 6. Be sponsored employed by and sponsored by a company with a unique NMLS number. Continuing Education There is no continuing education requirements for mortgage loan originators. Restrictions Had a mortgage loan originator license revoked by any governmental jurisdiction. Has been convicted or pled guilty to a felony crime during the 7 years preceding the loan application or at any time preceding the loan application in the case of fraud, dishonesty, breach of trust, or money laundering. Has not demonstrated financial responsibility, character, and/or general fitness. Schools located in Wyoming American Mortgage Training, AMT Campus- Cheyenne http://amtcampus.com/ The courses required for this license are offered online by the NMLS at http://mortgage.nationwidelicensingsystem.org/profreq/education/Pages/default.aspx License A license to practice as a mortgage loan originator must be obtained through the Wyoming Division of Banking. Licenses expire annually on December 31st. Examination The examination required for this license are offered online by the NMLS at http://mortgage.nationwidelicensingsystem.org/profreq/education/Pages/default.aspx Fees National exam with uniform state component . . . . . . ... $110 License. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . .$150 Renewal (annually). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .$120 Licensing Agency Christina Straw Wyoming Division of Banking 122 W 25th Street 3rd Floor West Cheyenne, WY 82001 Phone: (307) 777-6483 http://wyomingbankingdivision.wyo.gov/home Additional Sources of Information The Association of Mortgage Brokers 601 Pennsylvania Ave. NW, South Building Washington, DC 20004 Phone: (202) 434-8250 Fax: (530) 484-2906 https://www.namb.org/ Occupational Outlook Handbook https://www.bls.gov/ooh/business-and-financial/loan-officers.htm Last Updated June 2023
Licensing Agency
WYOMING DIVISION OF BANKING
2300 CAPITOL AVENUE, SECOND FLOOR
CHEYENNE, WY 82002
(307) 777 6483
christina.straw@wyo.gov
Active Status Active
Certification Certification required
Continuing Education No continuing education requirement to maintain license
Criminal Record No criminal record prohibitions
Education No educational requirements
Exam State exam required
License Type Tied to business
License Updated 06/15/2023
Physical Requirements No physical requirements

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