Mortgage Broker Education

The education required for mortgage brokers in the United States varies from state to state. Most states require a course of mortgage broker education similar to those required for realtors, insurance agents and other professionals.

The courses for mortgage broker education are usually offered by private schools but the test is administered by the state government. In some places the government it self conducts the tests but in other states private testing companies give the test.

The courses are designed to help people who want to become mortgage brokers pass the tests required for licensure. These tests do not necessarily mean that the mortgage broker has any special knowledge of the field or business. Only that they have taken a class designed to help them prep for tests.

Types of Mortgage Broker Education

There are a wide variety of schools for mortgage brokers out there. Some of these schools offer classroom education similar to a traditional college or high school. Others offer online or video education in which the student studies at home.

Most of the video classes require the student to buy a package of textbooks and manuals designed to help them study. The major difference between these classes and class room education is that the student will have to study at home on their own time.

There are also many online courses offering mortgage broker education. These usually work like the video education except that students may have to submit home work and test resorts online. Some of the online courses may also offer classes via streaming video.

Mortgage Broker Education must be State Specific

A student who wants to study to be a mortgage broker must choose a course that meets the specific requirements of his or her state. States have widely varying educational and license requirements fro mortgage brokers. Some states, such as Texas; even use a different name for mortgage brokers: loan originators.

A person who to be a mortgage broker can learn the requirements to be a mortgage broker by going to their state’s website. The state agency that regulates mortgage brokerage should have the requirements posted on the website. If they don’t a call to the state might help a person locate this information.

Once the student has learned their state’s requirements for mortgage broker education they can locate a class. Some states have recommended schools or education courses while others simply leave it up to the student.

Make Sure Mortgage Broker Education Meets State Requirements

In most states mortgage broker education will have to meet state requirements for licensure. This means you should look for a course designed specifically for your state. Reputable mortgage broker schools will list the states they teach courses for.

Be careful especially when dealing with online mortgage broker schools because some of them will offer classes in all areas. Some schools will take your money even though their course is not valid in your area.

Always find a mortgage broker education course designed to meet your state’s requirements. That way you’ll be able to meet the licensing requirements.