Be Held Each Year?
Q: Hi, is there anyone who can tell me how to become a Mortgage broker and loan agent? Basically, I would like to know: 1. Do I have to actually take any course in community college or can I study at home by myself? 2. Where can I get any information about the Mortgage Broker Exam? When will it be held each year? 3. Is there any difference license for loan broker and real-estate broker? Any information is appreciated.
A: Licensing varies from state-to-state. R.E. brokers and agents are licensed by the state -- most states have a minimum classroom hours requirement to take the R.E. agent's exam. Then there is generally a period of time that you must work as an agent (working for a broker) before you can take the brokers exam. Call the R.E. Licensing Board in your state. Yes. All states license R.E. agents and brokers, but not all states license non-bank mortgage brokers, yet.