Georgia Mortgage Loan Officer Pre-Licensure

How to Get a Mortgage Loan Officer License in Georgia

How to Get Started as a
Georgia Mortgage Loan Officer | Requirements to Become an MLO Through NMLS

We’ve compiled the six steps you’ll need to take to enroll in Georgia Pre-Licensure Education (PE) and start your new career as a Mortgage Loan Officer (MLO). We’ve also answered some of the most common questions that prospective Georgia Loan Officers have as they consider this exciting new career.

How to Become a Loan Officer in Georgia

1. Request an NMLS Account

Before beginning the educational component of licensing, prospective Loan Officers must create an NMLS (Nationwide Multistate Licensing System & Registry) account on the State Mortgage Registry website. NMLS is a national database in which all Georgia officers must register. After creating their account, applicants receive a personal NMLS number that will be maintained for the duration of their time working as a Loan Officer.

2. Complete NMLS-Approved Pre-Licensure Education

In Georgia, you’re required to complete 20 hours of coursework in order to meet the education requirements. The courses include the following:

  • 3 hours of Federal Law
  • 3 hours of Ethics
  • 2 hours of Non-Traditional Mortgage Lending Training
  • 12 hours of Electives

This specific set of courses must be approved by the Georgia Department of Banking & Financing.

3. Pass the SAFE Mortgage Loan Officer Test in Georgia

The Georgia SAFE MLO Test can be scheduled by visiting the NMLS website. Applicants use their existing account number to schedule the exam. The exam has 115 scored questions, and test takers must answer at least 75% correctly. It costs $110 to take, and students are given 3 hours and 10 minutes to complete the test. You can learn more by visiting the MLO Testing Handbook.

Did You Know?

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4. Complete State and FBI Criminal Background Checks

Georgia applicants will need to login into their NMLS account and head to the Filing section. From there, click on the Criminal Background Check tab. You will authorize a Federal Criminal Background Check by completing the fields and clicking Attest.

Then, Georgia applicants must schedule an appointment to submit their fingerprints. In the portal, users will click on the Composite View button then select Criminal Background Requests. In this module, you can schedule your fingerprinting appointment by clicking the “Fieldprint” button

The total cost of the state and FBI criminal background check is $36.25.

5. Complete the NMLS Application

Now it’s time to submit for official Georgia licensure through NMLS. Applicants will apply through the NMLS licensing portal. Applicants are advised to review the MLO New Application checklist beforehand in order to ensure they’re ready to apply.

The NMLS application fee is $30, and you’ll also need to pay $100 for the Georgia portion of the licensing fee. Additionally, a credit report must be submitted at the time of application for a fee of $15

6. Secure Your Employer Sponsorship

Your Georgia Loan Officer License will remain in pending status until your employing sponsorship is verified with NMLS. This verification is completed inside of the NMLS portal. Users will visit the Form Filing Home screen, then click Company Access. They’re then prompted to add their employer sponsorship by submitting employment details. Once the sponsoring employer receives notice of the verification request, they can approve the sponsorship. Upon approval, applicants are officially licensed.

Summary of Georgia MLO Fees

$200-$500

Pre-Licensure Education

$36.25

Criminal Background Check

$110

The SAFE MLO Test

$15

Credit Report

$100

Georgia Application Fee

$30

NMLS Processing Fee

real-estate

What Else Is There to Know About Becoming a Mortgage Loan Officer in Georgia?

What is the definition of a Mortgage Loan Officer in the state of Georgia?

The summary below, provided by the Georgia Department of Financing, is important for Mortgage Loan Officers to understand. Note: The titles “Mortgage Loan Officer” and “Mortgage Loan Originator” are often used interchangeably, including in the following statement.

A ‘‘Mortgage Loan Originator’’ is “an individual who for compensation or gain or in the expectation of compensation or gain takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan…” O.C.G.A. 7-1-1000(22); see also 12 U.S.C. § 5102(4). Mortgage lenders, Mortgage Brokers, banks, and credit unions employ Mortgage Loan Originators to take mortgage applications and offer/negotiate terms of mortgage loans. If you have obtained a mortgage loan, you have interacted with at least one Mortgage Loan Originator

Note: The titles “Mortgage Loan Officer” and “Mortgage Loan Originator” are often used interchangeably, including in the summary above.

How much do Georgia Mortgage Loan Officers make?

According to ZipRecruiter, Atlanta Mortgage Officers make approximately $67,000 per year on average as of October 2021. The 75th percentile of earners makes above $100,000, while the bottom 25th makes under $35,000. Top earners can earn more than $120,000 in Georgia.

What is the Georgia market like for Mortgage Loan Officers?

The real estate market in Georgia may put the “hot” in “Hotlanta” but the truth is that the whole state is seeing prices rise. Just last year, Georgia home values jumped 20.3%, which is great news for MLOs. After all, increased home prices translate into bigger commission checks.

Is Georgia a good state to work in as a Mortgage Loan Officer?

It pays to be a Mortgage Loan Officer in Georgia. The median home cost in Georgia is $256,000. At a commission rate of 1%, that’s a $2,560 payment for the MLO once the loan is secured. Here are the average home payouts in a few Georgia locations:

Atlanta:

Average Home Price: $346,000

Average Commission: $3,460

Savannah:

Average Home Price: $221,000

Average Commission: $2,210

Augusta:

Average Home Price: $146,000

Average Commission: $1,460

Norcross:

Average Home Price: $260,000

Average Commission: $2,600

Athens:

Average Home Price: $245,000

Average Commission: $2,450

All average home price figures were collected from Zillow.

What are some of the notable Georgia mortgage loan companies?

If you’re looking to get in contact with mortgage loan companies to ask about the profession, services, or employment opportunities, you can contact any of the following local businesses:

Southeast Mortgage of Georgia (Duluth)

ATL Mortgage (Atlanta)

Savannah River Mortgage (Savannah)

Athens Mortgage Resources, Inc. (Athens)

Augusta Mortgage Company (Augusta)