How to Become a Loan Officer in Maryland
Growth Trends for Related Jobs
In the loan process, the loan officer handles the mortgage from the initial interview to the signing of the closing documents. To become a loan officer in the state of Maryland, you must first have a bachelor's degree in a some financial field. In Maryland, there are a few more requirements, which include more time in the classroom.
Complete a bachelor's degree from an accredited college or university. Most banking institutions require a degree in the financial sector, such as finance, economics or accounting. The classes that you take to obtain the degree serve as training for becoming a loan officer.
Obtain a job with a banking institution. You must have at least 3 years of experience in mortgage lending before qualifying for a mortgage originator license. Without the license, you cannot perform the full duties of a loan officer.
Complete 40 hours of continuing education training at a training facility of your choice. This is mandatory for licensing.
Pass a written exam administered by the state. You can find more information on the exam while attending training. Online testing may be available.
Pay the allotted fees. Maryland law requires a $100 investigation fee and $300 licensing fee to be submitted with the application. Along with the fees, you must provide a resume, employment confirmation from your employer and statements disclosing criminal background or past licensing application issues. You may be asked to provide fingerprints as well.
Wait for notification from the Commissioner of Financial Regulation. It will come after the application is evaluated and the investigation completed.
Colorado Requirements to Become an Armed Security Guard→
How to Become an Insurance Broker in Florida→
How to Become a Justice of the Peace in Virginia→
How to Become a Bail Bondsman in Colorado→
Do You Need a College Degree to Become a Police Officer?→
New Jersey Public Adjuster License Requirement→
Jonita Davis is freelance writer and marketing consultant. Her work has appeared in various print and online publications, including "The LaPorte County Herald Argus" and Work.com. Davis also authored the book, "Michigan City Marinas," which covers the history of the Michigan City Port Authority. Davis holds a bachelor's degree in English from Purdue University.
Keith Brofsky/Photodisc/Getty Images