Top 11 Mortgage Closer Certifications

Certifications are an important part of the mortgage closer job market because they provide tangible evidence that a mortgage closer has acquired the necessary knowledge, skills, and experience to effectively perform the job. They also demonstrate to potential employers that a mortgage closer is committed to their profession and is taking steps to stay current in their field. Certification is also important for validating a mortgage closer's credentials and providing assurance that they are qualified for the job. Lastly, certifications can help differentiate one mortgage closer from another in the highly competitive job market.

The purpose of this article is to provide an overview of the top certifications for Mortgage Closers and explain how they can help further a mortgage closer's career.

What are Mortgage Closer Certifications?

Mortgage closer certification is a type of certification that is designed to help mortgage closers increase their knowledge and expertise in the field. It can help mortgage closers become more proficient in the various tasks associated with closing loans, such as preparing closing documents, coordinating with lenders, and ensuring compliance with government regulations. It also covers topics such as title insurance and real estate laws.

The certification process involves completing an online course or attending a class-based program. The courses are usually offered by professional organizations or universities, and they typically include lectures and hands-on activities that allow students to get a better understanding of the material they are studying. After completing the course, participants must pass an exam in order to be certified.

Having mortgage closer certification can be beneficial for both individual closers and employers alike. For employers, it helps demonstrate that their employees have the necessary skills and knowledge to handle loan closings effectively and efficiently. For individual closers, it can open up new opportunities for career advancement as well as higher pay rates due to having a specialized area of expertise.

Pro tip: Make sure to research and understand the requirements for mortgage closer certification prior to applying. Most states require that you have a minimum level of education and/or experience in order to become certified as a mortgage closer. Additionally, some states may require that you take a licensing exam or complete continuing education courses before becoming certified. Knowing the requirements upfront can help ensure that you are adequately prepared when it comes time to apply for certification.

Related: What does a Mortgage Closer do?

Top 11 Mortgage Closer Certifications

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

1. Certified Mortgage Closer (CMC)

Certified Mortgage Closer (CMC) is a professional designation for individuals who specialize in the closing of residential mortgage loans. The CMC designation is awarded by the National Association of Mortgage Processors (NAMP), and it is designed to recognize those individuals who have demonstrated a high level of knowledge, skill, and experience in the closing process.

In order to become certified as a CMC, an individual must complete a course offered by NAMP that covers topics such as loan origination, processing, underwriting, closing procedures, and post-closing activities. The course takes approximately 8 hours to complete and includes both online instruction and hands-on practice. Upon successful completion of the course, individuals must pass an exam administered by NAMP in order to receive their certification.

The cost of becoming a Certified Mortgage Closer is $299 USD. This fee includes the 8-hour course and the exam fee.

2. Certified Mortgage Banker (CMB)

Certified Mortgage Banker (CMB) is a professional designation awarded by the Mortgage Bankers Association (MBA). The CMB designation recognizes individuals who have demonstrated a high level of knowledge and experience in the mortgage banking industry. It is designed to provide recognition of professional achievement in mortgage banking, and to promote ethical standards of conduct.

It typically takes 12-18 months to complete the requirements for the CMB designation. To obtain it, applicants must meet certain criteria including having at least five years of experience in the mortgage banking industry, completing a series of education courses, passing an exam, and submitting an application for review by MBA.

The cost for obtaining the CMB designation varies depending on your membership status with MBA. If you are not a member of MBA, you will need to pay $1,500 for tuition fees and $250 for application fees. If you are already an MBA member, then you will only need to pay $1,000 for tuition fees and $150 for application fees.

3. Certified Loan Closing Agent (CLCA)

A Certified Loan Closing Agent (CLCA) is a professional who has been certified by the National Notary Association to perform loan closings. A CLCA has the knowledge and expertise to handle all aspects of a loan closing, from preparing closing documents to coordinating with lenders and other parties involved in the transaction.

It typically takes between four and six weeks to become a CLCA after submitting an application to the National Notary Association. To qualify for certification, applicants must have at least two years of experience as a notary public or in the loan closing industry, pass an exam, and complete continuing education requirements every three years.

The cost of becoming a CLCA varies depending on the state where you are located. The National Notary Association charges an initial fee of $125 for their certification program, plus any applicable state fees. In addition, there may be additional costs associated with taking the exam and completing continuing education requirements.

4. National Notary Association’s Certified Signing Agent (NSA-CSA)

The National Notary Association’s Certified Signing Agent (NSA-CSA) is a certification program that provides specialized training and designation for notaries who are involved in loan document signings. This certification provides notaries with the knowledge and skills needed to properly handle loan documents, as well as provide excellent customer service.

To become an NSA-CSA, applicants must first take a two-hour online course that covers the basics of loan document signings. After completing the course, applicants must pass an exam to receive their certification. The exam consists of 50 multiple choice questions and takes approximately one hour to complete.

Once certified, NSA-CSAs must renew their certification every two years by taking an additional two-hour online course and passing another exam. Renewal fees are $50 for NNA members and $75 for non-members.

Overall, it takes approximately three hours to complete the initial training and obtain the NSA-CSA certification.

5. National Association of Mortgage Processors’ Certified Mortgage Processor (NAMP CMP)

The National Association of Mortgage Processors’ Certified Mortgage Processor (NAMP CMP) is a professional certification program designed to provide mortgage professionals with the knowledge and skills necessary to succeed in the mortgage industry. The NAMP CMP was created to recognize those who have achieved a high level of proficiency in the areas of loan processing, underwriting, closing, and post-closing.

To become certified, applicants must complete an online course that covers topics such as loan origination, underwriting guidelines, loan documentation, closing procedures, and post-closing activities. Upon successful completion of the course, applicants must pass a comprehensive exam to earn their certification.

The NAMP CMP typically takes about 4-6 weeks to complete depending on how quickly you can work through the material. The cost for the course and exam is $299 USD.

In order to get certified, you must first register for the course online at www.namp.org/cmp/. Once registered, you will receive access to all of the materials needed for the course including video lectures and practice exams. After completing all of the required materials, you will be able to take your final exam online or at an approved testing center near you. Once you have passed your exam with a score of 70% or higher, you will be officially certified as a NAMP CMP!

6. American Institute of Financial Services Professionals’ Certified Mortgage Professional (AIFS CMP)

The American Institute of Financial Services Professionals’ Certified Mortgage Professional (AIFS CMP) is a professional designation that is designed to recognize individuals who have achieved a high level of knowledge and expertise in the mortgage industry. The AIFS CMP is a comprehensive certification program that covers all aspects of the mortgage process, including loan origination, underwriting, closing, servicing, and compliance.

It typically takes between three to six months to complete the AIFS CMP program. To get started, applicants must first complete an online application and pay a registration fee. After completing the application process, applicants must then pass an exam that tests their knowledge in mortgage-related topics such as loan origination, underwriting, closing, servicing and compliance.

The cost for the AIFS CMP program varies depending on the number of courses taken and whether or not the applicant has already completed certain prerequisites. Generally speaking, however, the cost for the entire program can range from around $1,000-$2,000 USD.

Once applicants have successfully passed the exam and completed all other requirements associated with the AIFS CMP program they will be awarded their certification by AIFS. This certification will serve as proof of their expertise in mortgage-related topics and will help them stand out among other professionals in this field.

7. The Loan Officer Certification Program (LOCP)

The Loan Officer Certification Program (LOCP) is a comprehensive program that provides loan officers with the knowledge, skills and abilities they need to succeed in the mortgage industry. The program is designed to help loan officers understand the various aspects of the mortgage process, including credit analysis, underwriting, closing and servicing.

The LOCP consists of three courses: Mortgage Basics, Loan Origination and Servicing & Compliance. Each course is offered online or in a classroom setting. The online version takes approximately 8-10 hours to complete, while the classroom version can take up to 16 hours depending on the instructor's pace.

To get certified through the LOCP, you must first pass all three courses with a passing score of 70% or higher. Once you have passed all three courses, you will receive your certification from the National Association of Mortgage Professionals (NAMB).

The cost for taking the LOCP varies depending on whether you choose to take it online or in a classroom setting. The online version costs $199 per course ($597 total), while the classroom version costs $399 per course ($1197 total).

Once certified through the LOCP, loan officers will have access to additional resources such as webinars and seminars that can help them stay up-to-date on industry trends and best practices. They will also be able to use their certification as an advantage when applying for jobs in the mortgage industry.

8. Real Estate Settlement Procedures Act Certification (RESPA-Certified)

The Real Estate Settlement Procedures Act Certification (RESPA-Certified) is a certification program offered by the U.S. Department of Housing and Urban Development (HUD) to ensure that real estate settlement service providers are knowledgeable about the requirements of RESPA and other applicable laws. The certification requires successful completion of a HUD-approved training course, which covers topics such as RESPA compliance, consumer protection, and fair lending practices.

The training course typically takes between 8-10 hours to complete and can be taken online or in person. The cost for the course varies depending on the provider but generally ranges between $50-$150. Once the course is completed, applicants must submit an application to HUD for RESPA-Certification along with proof of successful completion of the training course.

Once approved, RESPA-Certification is valid for three years from the date of issuance and must be renewed every three years in order to remain active. Renewal applications must include proof of continuing education credits related to RESPA compliance and consumer protection laws earned within the last three years.

9. FHA/VA Loan Closing Specialist Certification

FHA/VA Loan Closing Specialist Certification is a certification program that allows loan closers to demonstrate their knowledge and understanding of the FHA and VA loan closing process. The certification requires a comprehensive exam that covers topics such as loan origination, underwriting, closing, post-closing, and servicing.

The exam takes approximately three hours to complete and can be taken online or at a testing center. To be eligible for the certification, applicants must have two years of experience in FHA/VA loan closing activities or an equivalent combination of education and experience.

The cost of the certification varies depending on the provider; however, most providers charge between $200-$400 for the exam. Once you pass the exam, you will receive your certificate within 4-6 weeks.

10. HUD/FHA Single Family Housing Originator Certification

HUD/FHA Single Family Housing Originator Certification is a certification program offered by the U.S. Department of Housing and Urban Development (HUD) to ensure that mortgage originators are knowledgeable and qualified to originate FHA-insured loans. The HUD/FHA Single Family Housing Originator Certification Program requires that all mortgage originators complete 20 hours of HUD-approved pre-licensing education, pass the National Mortgage Licensing System (NMLS) exam, and submit an application to the NMLS for approval.

The pre-licensing education must be completed within one year prior to applying for the certification. The course covers topics such as loan origination procedures, FHA guidelines and regulations, underwriting standards, loan processing and closing requirements, credit score analysis, appraisals and more. After completing the pre-licensing education, applicants must pass the NMLS exam with a score of at least 75%.

Once approved by the NMLS, applicants must pay a fee of $150 in order to receive their HUD/FHA Single Family Housing Originator Certification. This fee covers the cost of background checks and other administrative costs associated with obtaining the certification.

It typically takes around two weeks from start to finish to obtain your HUD/FHA Single Family Housing Originator Certification once you have completed all required steps.

11. American Escrow Association's Accredited Escrow Officer Designation (AEOD).

The American Escrow Association's Accredited Escrow Officer Designation (AEOD) is a professional certification program that recognizes individuals who have achieved a high level of proficiency in the escrow industry. This designation is designed to demonstrate an individual's commitment to professionalism and knowledge of the escrow process.

To obtain the AEOD designation, applicants must meet certain criteria and pass an examination administered by the American Escrow Association. The exam is composed of multiple-choice questions covering topics such as escrow procedures, legal requirements, accounting principles, and ethics. The exam is offered twice a year in April and October at various locations throughout the United States.

In order to become eligible for the AEOD designation, applicants must meet certain prerequisites including having at least two years of full-time experience in escrow or related fields; holding a current real estate license; being employed by an approved escrow company; and completing at least 12 hours of continuing education courses related to escrow within the past two years.

The cost for taking the AEOD exam varies depending on location but typically ranges from $150-$200. Once applicants have passed the exam they will receive their official AEOD certificate from the American Escrow Association.

Do You Really Need a Mortgage Closer Certificate?

A mortgage closer certificate is a certification that shows an individual has the knowledge, skills, and experience to close mortgages. It is required by many employers before they will hire someone as a mortgage closer. The certificate also provides evidence of competency in the field of mortgage closing.

The answer to whether or not you need a mortgage closer certificate depends on your specific situation. If you are looking for employment in the field of mortgage closing, then it is likely that having a certificate would be beneficial and even necessary for some employers. It can help demonstrate to potential employers that you have the necessary knowledge and experience to perform the job duties of a mortgage closer. Additionally, if you are already employed as a mortgage closer but want to increase your knowledge and skill set, then obtaining a certificate could help you advance in your career.

If you are not seeking employment or advancement in the field of mortgage closing, then having a certificate may not be necessary for you. However, if you do decide to pursue this type of certification, it could benefit you in other ways such as increasing your credibility with clients or providing additional security when negotiating terms with lenders.

Overall, whether or not you need a mortgage closer certificate depends on your individual goals and objectives. If having one would help further your career or give you an edge in negotiations with lenders, then obtaining one may be worth considering.

Related: Mortgage Closer Resume Examples

FAQs About Mortgage Closer Certifications

1. What is a Mortgage Closer Certification?

Answer: A Mortgage Closer Certification is an official recognition of the knowledge and skills required to accurately close a mortgage transaction. It is awarded by organizations such as the National Association of Mortgage Processors (NAMP) and the American Association of Residential Mortgage Regulators (AARMR).

2. How do I become certified as a Mortgage Closer?

Answer: To become certified as a Mortgage Closer, you must complete an approved course from an accredited institution and pass an examination administered by one of the certifying organizations mentioned above.

3. What are the benefits of getting a Mortgage Closer Certification?

Answer: Having a Mortgage Closer Certification can help demonstrate your knowledge and skills in this field, provide credibility to potential employers, and provide career advancement opportunities.

4. How long does it take to get a Mortgage Closer Certification?

Answer: The amount of time it takes to get a Mortgage Closer Certification depends on the type of certification you are pursuing, as well as how much time you spend studying for the exam. Generally speaking, it can take anywhere from several weeks to several months depending on the program.

5. Is there any continuing education required for maintaining my certification?

Answer: Yes, most certifying organizations require that you complete at least 12 hours of continuing education credits every two years in order to maintain your certification status.