How to Become a Mortgage Loan Officer (MLO) in Delaware

You’ve been hearing a lot of good things about becoming a mortgage loan officer…

Or maybe it’s your passion to assist those looking for a mortgage…

Whatever the case, we’re here to help you become one.  

No, we’re not going into the details of what an MLO does and how to deal with clients and all that. 

If that’s what you’re after, you won’t find it here. 

Instead, we’re going to help by walking you through all the steps on how to become a mortgage loan officer (MLO) in Delaware. 

We’ll simplify the steps for you — this way, you know EXACTLY what to expect and how to go through it. 

Now, we have a lot to cover, so let’s jump right in!

How to Become an MLO in Delaware – The 6 Required Steps

A mortgage loan officer, also known as a mortgage loan originator, needs to be licensed. 

To do that, you must complete these 6 steps: 

1. Create an NMLS account
2. Complete a pre-license education
3. Pass the MLO licensing exam
4. Complete a background check
5. Apply as an MLO
6. Associate your NMLS account with an employer

Sounds simple? 

You’re right! 

But that doesn’t mean you don’t have to put in the work. 

We’ll show you what we mean…

Step #1: Create an NMLS Account

The Nationwide Mortgage Licensing System (NMLS) is a registry for all MLOs in the country. 

So before you begin anything, you need to have an NMLS account. 

Here’s how to make one: 

• Visit the NMLS website.

• Request an account and fill up all required information. 

• Complete your registration and receive your NMLS ID number. This ID number is going to be your identification for the duration of your mortgage licensing career. 

Step #2: Complete a Pre-License Education

Once you have your NMLS ID, you can start enrolling for an MLO pre-licensing course.

Now, all states will require at least 20 hours of pre-licensure education (PE), PLUS a state-specific course.

The good news about Delaware’s MLO pre-licensing requirement is that you don’t need to take a state-specific course. This means that you can take a general course to complete your 20 hours.

Not sure which provider to choose?

Here are our top 3 recommendations:

• The CE Shop
• Knowledge Coop
• OnlineEd

And here you can find a complete list of all the NMLS-approved providers. 

Step #3: Pass the MLO Licensing Exam

After you complete your pre-licensing education, you can schedule your licensing exam. This exam is called the MLO exam or the SAFE test. 

This is a nationwide exam facilitated by Prometric. 

But before you can schedule with them, you first need to register for the exam with the NMLS. 

To register, follow these steps:

• Log into your NMLS account

• Fill up a test enrollment window for your MLO exam

• Pay the exam fee of $110

• Accept the Candidate Test Security and Confidential Agreement (Candidate Agreement)

To schedule with Prometric, follow these steps: 

• Decide whether you want to take an online or in-person exam. 

• Go to the Prometric website and schedule an online or in-person exam. 

NOTE: If you’re taking an online exam, your laptop or desktop should meet the system requirements. 

• Take and pass the MLO exam. 

Step #4: Complete a Background Check

Every MLO applicant should complete a background check as a prerequisite for their application. 

To request a criminal background check, follow these steps: 

• Go to the NMLS website and proceed to the Criminal Background Check page. 

• Log in to your NMLS account.

• Go to the Filing tab and choose Individual in the submenu. 

• Click the Request New/Update option to request a new criminal background check.

• Choose Submit New Prints if it is available. This allows you to submit a new criminal background check. 

• Complete the application and click Attest at the end. 

You’re now allowed to schedule a fingerprint assessment. 

Here is how to do that:

• Go to the fieldprint website. 

• If you don’t have an account, create a new account. If you already have an existing one, just log in.

• Schedule a fingerprint assessment by completing all the required information. 

Step #5: Apply as an MLO

Done with your fingerprint assessment? You can now proceed with your application. 

Here’s how: 

• Log in to your NMLS account. 

• Go to the Filing tab and choose Individual. 

• Under the individual filing, click Request New/Update. 

• Follow the instructions and fill in the required information, including the states where you will use your license. 

• Choose the license you are applying for. In this case, choose the MLO option. 

• A list of fees will show up. Click Proceed. 

• Provide any information asked for. 

• Answer all the disclosure questions. If you answer “yes” to any of them, you may need to upload supporting documents. 

• Request a credit report authorization. 

• After completing all the information and documents, a page will appear showing your information. Click Verify Me. 

• Pay the licensing fees and other fees:
  • NMLS initial processing fee – $30
  • DE registration fee – $250
  • DE application fee – $250
  • Credit report fee – $15
  • Background check fee – $36.25.

NOTE: You will have to pay an annual $500 supervisory assessment fee to the DE Office of the State Bank Commissioner through NMLS. This will be issued every July and will be due in August. 

You’re almost done!

Step #6: Associate Your NMLS Account with an Employer

Without an employer, your MLO status will appear as “approved-inactive”.

So this last step is going out and looking for work as a mortgage loan officer. 

Don’t rush this step — remember, you want to work for someone that fits your needs and preferences. 

Once you find employment, let your employer request sponsorship from the DE Office of the State Bank Commissioner. They should also email proof of a Surety Bond that covers you. 

NOTE: If your employer doesn’t offer a Surety Bond, you have to get one for yourself and email it to the DE. Remember, it has to be an original Chapter 24, Title 5 surety bond. 

If approved, here’s how to associate your NMLS account with your employer to change your “inactive” status to “active”:

• Log in to your NMLS account. 

• Go to the Filing tab and choose Company Access. 

• Complete the company information. 

• Put the company’s NMLS ID and then click Search. This should show the company name. Select the right company. 

• Click Save. 

NOTE: DE doesn’t issue paper licenses for MLOs. 

And you’re done!

Congratulations! 

Frequently Asked Questions About Becoming a Mortage Loan Officer in Delaware

How much is the MLO application fee?

The total application fee you need to pay is $551.25. 

$500 is for the application and licensing fee. You also need to pay the 36.25 background check fee and $15 credit report fee. All of these will be paid via your NMLS account. 

That said, there is also the exam fee of $110. Plus, you’ll need to pay whatever price your chosen pre-licensing provider offers. 

So prepare around $1,000 for the overall cost. 

Where can you take a criminal background check?

You can only take your criminal background check with fieldprint, the approved third party for this requirement. 

Can you take the MLO course online?

Yes, you can! Most people prefer to take online courses because it’s much more convenient. What’s more, online courses tend to be cheaper. 

Conclusion

And that’s how to become a mortgage loan officer (MLO) in Delaware. 

We admit, there are a lot of things you have to do, but that doesn’t mean it’s a hard process. 

If you follow this guide step by step, you can be a licensed MLO in no time!

Best of luck to you!