Our previous blog post discussed the sizeable drop in the number of mortgage brokers. However, as with any business, there is always room for ethical, knowledgable professionals in the mortgage industry. If you have an interest, following are the key requirements to apply for a license:
- Submit a properly completed application through the National Mortgage Licensing System
- Be subject to an FBI criminal background check
- Obtain a $50,000 surety bond
- Obtain an FBI fingerprint card (FD258)
- Submit a properly completed branch application
- Have a properly registered principal manager for each office location
- Take and pass the SAFE Act test before you can get a license.
It’s a rewarding profession. Assisting people to make the right choice regarding the type of loan that is best for them thrugh understanding their needs and goals. Whether they are purchasing their first house or even their sixth, they still need proper guidance from a professional. Helping others achieve the American Dream is a rewarding career!
For more information regarding the requirements to become a mortgage broker, click here for the Indiana Secretary of State Website.
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