To become a Mortgage Loan Originator (MLO) in Illinois, first go to the NMLS website to register for your “unique identifier.” You will get an NMLS (Nationwide Multistate Licensing System) account and will be assigned an ID number. You will use this number often through the licensing process..

To obtain a new Illinois MLO license, you must successfully complete at least 20 hours of NMLS-approved coursework through an accredited organization like Mortgage Educators. Illinois does not require state-specific PE (Pre-License Education).

Once PE is complete, the next step in getting a mortgage license in Illinois, to pass the National Test Component exam given through NMLS. You must receive a score of 75% or higher. Learn more about this step here.

Now that you have passed the exam, you can start applying for your mortgage license in Illinois. To meet the background check requirements, you must be fingerprinted, submit to a background check, and pay for an individual credit report. For more information about background checks and fingerprinting requirements, click here.

There are many steps in the process of getting your Illinois MLO license, so use this checklist to ensure you don’t miss or forget anything.

In order to generate mortgage loans in Illinois, you must have a documented and reported relationship with a licensed mortgage company. Use this link to establish that professional relationship with NMLS.

 

Becoming an MLO in Illinois can change your life, personally and professionally. The flexibility of this career choice is one of its greatest benefits. If you are interested in making some extra money, but having softer goals, you can choose an employer who is satisfied with whatever number of mortgages you close.

On the other hand, you can make a substantial amount of money with hard work and determination. We are committed to providing the education, tips, and up-to-date information and requirements to help you make the most of your mortgage license in Illinois.