Top 11 Mortgage Analyst Certifications

Certifications are an important part of a mortgage analyst’s job market success. They demonstrate a level of knowledge, experience, and commitment to the profession. A certification is also a signal to employers that the analyst has taken the time and effort to gain additional education and training beyond their existing qualifications. Certifications can also provide access to exclusive job opportunities, as employers will often prefer candidates who have earned specific certifications in their field. Additionally, certifications can help an analyst stand out from other applicants and give them an edge in the competitive job market.

This article reviews some of the most beneficial certifications for Mortgage Analysts and explains how they can help to advance their career.

What are Mortgage Analyst Certifications?

Mortgage analyst certification is a professional designation for individuals who specialize in analyzing mortgage loans and assessing their risk. It is designed to provide assurance that an individual has the knowledge, skills, and expertise needed to analyze mortgages accurately and efficiently. The certification requires candidates to complete a comprehensive training program that covers various aspects of the mortgage industry, such as loan origination, underwriting, and servicing.

Having a mortgage analyst certification demonstrates a level of competency in the field and helps employers identify qualified candidates for positions involving mortgage analysis and other related duties. It also serves as proof of an individual’s dedication to their profession. In addition, it can help individuals become more competitive in the job market by providing them with credentials that are recognized by lenders and other financial institutions. Having this certification can also open up new career paths or opportunities within the industry.

Pro Tip: When considering a mortgage analyst certification, make sure to research the specific requirements and qualifications of the certifying organization. Inquire about the experience and credentials of their instructors, as well as any accreditation or approval the program may have received. Additionally, consider what type of job opportunities you may be able to secure after receiving your certification.

Related: What does a Mortgage Analyst do?

Top 11 Mortgage Analyst Certifications

Here’s our list of the best certifications available to Mortgage Analysts today.

1. Certified Mortgage Banker (CMB)

Certified Mortgage Banker (CMB) is a professional designation awarded by the Mortgage Bankers Association (MBA) to individuals who have demonstrated knowledge and expertise in the mortgage banking industry. The CMB designation is designed to recognize those professionals who have achieved a high level of proficiency in mortgage banking and demonstrate a commitment to ethical business practices.

The process for obtaining the CMB designation takes approximately six months to complete. It involves completing an online application, passing an exam, and submitting three letters of recommendation from MBA members. Once approved, applicants must pay an annual fee of $250 to maintain their certification.

To obtain the CMB designation, applicants must first meet certain eligibility requirements including having at least five years of experience in the mortgage banking industry and being employed by a member company of the MBA. Applicants must also pass an exam that tests their knowledge on topics such as loan origination, underwriting, servicing, secondary market operations, and regulatory compliance. After passing the exam, applicants must submit three letters of recommendation from MBA members attesting to their professional character and abilities.

Once all requirements are met, applicants will be notified by email if they have been approved for the CMB designation. Upon approval, applicants will be required to pay an annual fee of $250 in order to maintain their certification status.

2. Certified Mortgage Planning Specialist (CMPS)

Certified Mortgage Planning Specialist (CMPS) is a certification program offered by the National Association of Mortgage Planners (NAMP). It is designed to help mortgage professionals develop and maintain a high level of knowledge and expertise in the areas of mortgage planning, loan origination, and loan servicing. The program provides an opportunity for mortgage professionals to demonstrate their commitment to excellence in the field.

The CMPS certification program consists of two parts: an online course and an exam. The online course covers topics such as loan origination, loan servicing, mortgage planning, marketing and sales, risk management, compliance, technology, and customer service. The exam tests the participant’s knowledge on these topics. To become certified, participants must pass the exam with a score of 70% or higher.

The cost for the CMPS certification program varies depending on which learning package you choose. The basic package costs $795 and includes access to the online course materials and one attempt at the certification exam. Additional attempts at the exam are available for an additional fee.

The time it takes to complete the CMPS certification program depends on how quickly you can complete the online course materials and pass the exam. Most people find that it takes about six weeks to complete both parts of the program if they devote about 10 hours per week to studying for it.

To get started with your CMPS certification process, you will need to register with NAMP by completing their application form found on their website. Once your registration is approved you will be able to access all of the necessary materials needed for your studies including course materials and practice exams.

3. Certified Mortgage Consultant (CMC)

A Certified Mortgage Consultant (CMC) is a professional designation that indicates a high level of knowledge and experience in the mortgage industry. The CMC designation is awarded by the Mortgage Bankers Association (MBA), an organization that promotes professionalism and ethical standards among mortgage professionals.

To obtain the CMC designation, applicants must have at least two years of experience in the mortgage industry and pass an exam administered by the MBA. The exam tests the applicant’s knowledge of mortgage lending regulations, loan origination processes, and other related topics.

The cost to take the CMC exam varies depending on when it is taken, but typically ranges from $200-$400. The cost includes registration fees as well as study materials provided by the MBA.

Once an applicant passes the exam, they will receive their CMC designation within four to six weeks. The CMC designation must be renewed every three years by taking continuing education courses or passing additional exams administered by the MBA.

4. Certified Residential Mortgage Professional (CRMP)

Certified Residential Mortgage Professional (CRMP) is a professional designation that recognizes mortgage professionals who have demonstrated a high level of knowledge and experience in the residential mortgage industry. The CRMP designation is awarded by the National Association of Mortgage Professionals (NAMB) and requires applicants to meet certain educational, experience, and ethical standards.

It typically takes between 6-12 months to complete the required coursework and pass the exam to earn the CRMP designation. To get started, applicants must first submit an application to NAMB which includes proof of education and experience in the residential mortgage industry. After submitting their application, applicants can register for the CRMP examination which consists of multiple choice questions on topics such as loan origination, regulation compliance, underwriting, servicing, and more.

The cost to obtain the CRMP designation varies depending on whether or not you are a member of NAMB. For non-members, there is an initial fee of $495 plus an additional $100 fee for each exam attempt. For members of NAMB, there is an initial fee of $295 plus an additional $100 fee for each exam attempt.

5. Certified Mortgage Professional (CMP)

Certified Mortgage Professional (CMP) is a professional designation awarded by the Mortgage Bankers Association (MBA) to individuals who have demonstrated expertise in the mortgage industry. The CMP designation is designed to recognize and promote professionalism among mortgage professionals.

To become a Certified Mortgage Professional, an individual must complete a rigorous program of study, pass an exam, and commit to upholding the MBA's Code of Ethics. The program includes courses on topics such as loan origination, underwriting, servicing, and secondary market operations. To qualify for the CMP designation, applicants must have at least three years of mortgage-related experience or equivalent education in the field.

The CMP program typically takes between six months and one year to complete depending on the individual's prior experience and knowledge. To get started, individuals must first apply for admission into the program through the MBA website. Once accepted into the program, applicants will be required to complete all coursework and pass an exam before they can receive their CMP designation.

The cost of obtaining a CMP designation varies depending on whether you are already an MBA member or not. Non-members pay $1,800 for tuition plus $275 for materials while members pay $1,400 for tuition plus $275 for materials. Additionally, there is an annual renewal fee of $125 for both members and non-members that must be paid each year to maintain your certification status.

6. Accredited Mortgage Professional (AMP)

Accredited Mortgage Professional (AMP) is a designation that recognizes individuals who have demonstrated knowledge and experience in the mortgage industry. The AMP designation is offered through the Canadian Association of Accredited Mortgage Professionals (CAAMP).

To receive the AMP designation, an individual must complete a series of courses and exams, as well as demonstrate a minimum amount of experience in the mortgage industry. The courses cover topics such as mortgage products, lending regulations, and risk management. The exams are designed to test an individual’s knowledge of these topics.

The process to become an AMP typically takes between six months and one year to complete. To get started, individuals must first register with CAAMP and pay the applicable fees. After registering, they can begin taking the required courses and exams. Once all coursework and exams are completed, applicants must submit their application to CAAMP for review. If approved, they will be awarded their AMP designation.

The cost of becoming an AMP varies depending on which courses and exams are taken. Generally speaking, it costs around $1,000-$2,000 CAD plus any applicable taxes to become an AMP.

7. Certified Home Loan Professional (CHLP)

Certified Home Loan Professional (CHLP) is a certification program designed to help mortgage professionals gain the knowledge and skills needed to provide quality service to their clients. The program focuses on the fundamentals of mortgage lending, including loan origination, underwriting, closing, and post-closing. It also covers topics such as consumer protection laws, federal regulations, and ethical standards.

The CHLP certification program consists of two parts: an online course and an in-person exam. The online course takes approximately 8 hours to complete and includes a variety of interactive modules covering the basics of mortgage lending. The in-person exam is administered by a third-party testing center and consists of multiple choice questions based on the material covered in the online course.

To get certified as a CHLP, you must first complete the online course and pass the associated exam with a score of at least 80%. Once you have passed the exam, you will be eligible to apply for your CHLP certification from the National Association of Mortgage Professionals (NAMP).

The cost for obtaining your CHLP certification varies depending on where you take the online course and whether or not you choose to become a member of NAMP. Generally speaking, it will cost around $250-$350 for both parts of the program.

8. National Association of Mortgage Brokers Certification Program

The National Association of Mortgage Brokers (NAMB) Certification Program is a comprehensive program designed to provide mortgage professionals with the education and resources necessary to become certified in the industry. The program includes both classroom and online instruction, as well as an exam that must be passed in order to receive certification.

The NAMB Certification Program consists of three levels: Certified Mortgage Professional (CMP), Certified Mortgage Planner (CMP) and Certified Mortgage Consultant (CMC). Each level requires different levels of education and experience, but all three require successful completion of an exam administered by NAMB.

The CMP program is designed for those who are just starting out in the mortgage industry or have some experience but need additional training. It takes approximately six months to complete this level of certification, depending on how quickly you can complete the coursework and pass the exam. The cost for this program is $695 for members of NAMB and $795 for non-members.

The CMP program is designed for those who have more experience in the mortgage industry or who want to specialize in certain areas such as loan origination, underwriting or servicing. This level takes approximately one year to complete, depending on how quickly you can complete the coursework and pass the exam. The cost for this program is $995 for members of NAMB and $1,095 for non-members.

The CMC program is designed for those who have extensive experience in the mortgage industry or who want to specialize in certain areas such as loan origination, underwriting or servicing. This level takes approximately two years to complete, depending on how quickly you can complete the coursework and pass the exam. The cost for this program is $1,495 for members of NAMB and $1,595 for non-members.

To get started with any of these programs, you must first become a member of NAMB by registering online at nambcertificationprograms.org/register/. Once registered, you will be able to access all of the materials needed to successfully complete your chosen certification program.

9. National Association of Mortgage Underwriters Certification Program

The National Association of Mortgage Underwriters (NAMU) Certification Program is a professional designation program that provides mortgage professionals with the knowledge, skills, and expertise to underwrite mortgages in accordance with industry standards. The program consists of four levels: Certified Mortgage Underwriter (CMU), Advanced Certified Mortgage Underwriter (ACMU), Certified Residential Mortgage Specialist (CRMS), and Senior Certified Residential Mortgage Specialist (SCRMS).

The CMU certification requires applicants to have at least two years of experience in the mortgage industry and pass an online exam. The ACMU certification requires applicants to have at least five years of experience in the mortgage industry and pass an online exam. The CRMS certification requires applicants to have at least three years of experience in the mortgage industry and pass an online exam. The SCRMS certification requires applicants to have at least seven years of experience in the mortgage industry and pass an online exam.

It typically takes up to six weeks for applicants to receive their NAMU certifications after they complete their exams. Applicants must also pay a fee for each level of certification they pursue. The fees vary depending on which level of certification you are pursuing, but range from $99-$299 per level.

10. American Bankers Association's School of Lending

The American Bankers Association’s School of Lending is an online, self-paced program designed to give bankers the knowledge and skills necessary to succeed in consumer lending. The program covers topics such as loan origination, credit analysis, portfolio management, regulatory compliance, and more. It is designed for both new and experienced lenders.

The School of Lending consists of four modules that can be completed in approximately 16 hours. Each module includes a series of interactive lessons and assessments that help participants learn the fundamentals of consumer lending. Upon completion of all four modules, participants will receive a certificate from the American Bankers Association.

To get started with the School of Lending, you must first register on the ABA website. Once registered, you will have access to all four modules which can be completed at your own pace.

The cost for the School of Lending is $395 for ABA members and $495 for non-members.

11. Financial Industry Regulatory Authority's Investment Banking Representative Exam

The Financial Industry Regulatory Authority (FINRA) Investment Banking Representative Exam is a qualification exam for individuals who wish to become registered representatives of FINRA member firms in the securities industry. It tests knowledge of the rules and regulations that govern the securities industry, as well as general investment banking principles. The exam consists of 125 multiple-choice questions and must be completed within two hours and forty-five minutes.

In order to take the FINRA Investment Banking Representative Exam, an individual must first submit an application to FINRA. The application includes a background check and other information required by FINRA. Once approved, an individual may register for the exam through FINRA’s website or by calling their customer service department.

The cost of taking the FINRA Investment Banking Representative Exam varies depending on where it is taken. Generally speaking, it costs around $200-$300 per attempt.

Do You Really Need a Mortgage Analyst Certificate?

The answer to this question depends on your goals and objectives. If you are looking to become a mortgage analyst or work in the mortgage industry, having a Mortgage Analyst Certificate can be beneficial. It shows that you have a strong understanding of the mortgage industry and the skills necessary to succeed in the field. Additionally, having a certificate can give you an advantage when applying for jobs or promotions, as it demonstrates your commitment to professional development and knowledge.

On the other hand, if you are not interested in becoming a mortgage analyst or working in the industry, then there may not be much use for obtaining a Mortgage Analyst Certificate. In this case, it would likely be better to focus on developing other skill sets that could help you achieve your career goals.

Ultimately, whether or not you need a Mortgage Analyst Certificate depends on what your end goal is. Having one could certainly help increase your chances of success in the mortgage industry but may be unnecessary if it does not fit into your overall career plan.

Related: Mortgage Analyst Resume Examples

FAQs About Mortgage Analyst Certifications

1. What are the requirements for obtaining a mortgage analyst certification?

Answer: The specific requirements vary depending on the certifying organization, but generally include passing an exam and having at least two years of professional experience in the field.

2. How much does it cost to obtain a mortgage analyst certification?

Answer: Fees vary depending on the certifying organization, but typically range from $200-$500.

3. How long is a mortgage analyst certification valid?

Answer: Certifications are usually valid for two years, after which they must be renewed either through continuing education or retesting.

4. What types of jobs require a mortgage analyst certification?

Answer: Mortgage analysts can work in various roles within the financial services industry, such as loan officers, underwriters, loan processors, and risk analysts.

5. Are there any online courses available to prepare for a mortgage analyst certification exam?

Answer: Yes, many certifying organizations offer online courses and practice exams that can help prepare you for the exam.