Top 11 Mortgage Loan Officer Certifications

Certifications for mortgage loan officers are important for several reasons. First, certifications demonstrate to employers that the loan officer has the knowledge and skills necessary to effectively perform their job duties. Second, certifications provide proof of a loan officer’s experience and qualifications to potential clients, which can help them establish trust in a relationship. Finally, certifications can also help loan officers stand out from the competition in the job market and give them an edge over other applicants. In short, having a certification can be a valuable asset for any mortgage loan officer looking to make their mark in the industry.

The purpose of this article is to review some of the top certifications for Mortgage Loan Officers and explain how they can help to advance a mortgage loan officer's career.

What are Mortgage Loan Officer Certifications?

Mortgage loan officer certification is a professional designation that denotes an individual has met the education, experience, and examination requirements of their state or jurisdiction to be licensed to work in the mortgage industry. Certification provides assurance to lenders and borrowers that the loan officer is knowledgeable about mortgage lending practices and regulations. It also serves as a way for loan officers to demonstrate their expertise and commitment to continued learning in the field.

Certification can help loan officers stand out from their peers by showing they are up-to-date on best practices, regulations, and strategies for success in the industry. It also can provide access to resources such as continuing education courses, webinars, and other materials that can help them stay abreast of changes in the industry. Additionally, certifications may offer access to professional networks with other certified professionals who can provide valuable advice or mentorship opportunities.

Finally, certification can make it easier for loan officers to transition between jobs or even move into different roles within the same company. By having a recognized certification on their resume, they’ll be able to demonstrate both their knowledge of the industry and their commitment to staying current on changes in regulations and best practices.

Pro Tip: Make sure to research the specific requirements for mortgage loan officer certification in your state or jurisdiction. Each state has its own set of requirements and regulations that must be met in order to obtain a license, so it is important to make sure you are meeting all of the necessary qualifications.

Related: What does a Mortgage Loan Officer do?

Top 11 Mortgage Loan Officer Certifications

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

1. Certified Mortgage Banker (CMB)

Certified Mortgage Banker (CMB) is a professional designation that recognizes mortgage bankers who have achieved the highest level of expertise in the mortgage banking industry. The CMB designation is awarded by the Mortgage Bankers Association (MBA), a national trade association for the real estate finance industry.

To obtain the CMB designation, applicants must complete an application process and meet certain educational and experience requirements. Applicants must have at least five years of documented experience in the mortgage banking field, including two years of management or supervisory experience. Additionally, applicants must pass an exam administered by the MBA that covers topics such as loan origination and processing, secondary market operations, regulatory compliance, and financial analysis.

The application process typically takes several weeks to complete and can cost up to $1,000 depending on the applicant’s membership status with the MBA. Once approved, CMBs are required to maintain their certification through continuing education courses offered by the MBA.

2. Certified Mortgage Professional (CMP)

Certified Mortgage Professional (CMP) is a designation awarded by the Mortgage Bankers Association of America (MBA) to professionals in the mortgage industry who have demonstrated mastery of the knowledge and skills necessary to deliver quality service and products to their clients. This certification is designed for those who are involved in all aspects of the mortgage process, from origination through closing.

To become a CMP, you must have at least two years of experience in the mortgage industry and pass an exam that covers topics such as loan origination, underwriting, closing, compliance, and ethics. The exam consists of 150 multiple-choice questions and takes about three hours to complete.

The cost for taking the CMP exam varies depending on your membership status with the MBA. If you are not a member, it will cost $395; if you are a member, it will cost $295.

Once you have passed the exam and met all other requirements, you will be awarded your CMP designation. This certification is valid for two years after which time you must renew it by completing continuing education credits or retaking the exam.

3. National Association of Mortgage Brokers (NAMB)

The National Association of Mortgage Brokers (NAMB) is a national trade organization that represents the interests of mortgage brokers and other related professionals. It was founded in 1973 and is headquartered in Washington, D.C. The organization’s mission is to promote the highest standards of professional conduct among mortgage brokers and to protect consumers from unethical practices.

To become a member of NAMB, you must meet certain criteria, including having at least two years of experience as a mortgage broker or loan originator and passing an ethics exam. Additionally, you must be able to provide proof of your current licensing status with the state in which you are doing business.

It typically takes between 4-6 weeks to become a NAMB member after submitting all required documents and fees. To get started, you will need to complete an online application form on their website and pay the annual membership fee, which currently costs $300 for individual memberships or $500 for corporate memberships.

You will also need to submit copies of your license(s), a copy of your resume or CV, proof of Errors & Omissions insurance coverage, and a copy of your background check report from the Nationwide Mortgage Licensing System & Registry (NMLS). Once all these documents have been received by NAMB, they will review them for accuracy before granting membership status.

4. Certified Residential Mortgage Specialist (CRMS)

Certified Residential Mortgage Specialist (CRMS) is a professional designation awarded by the National Association of Mortgage Brokers (NAMB). The CRMS designation is designed to recognize mortgage professionals who have demonstrated a high level of knowledge and experience in residential mortgage origination, servicing, and compliance.

It typically takes between six months to one year to complete the requirements for the CRMS designation. To get the CRMS designation, applicants must first become members of NAMB and then complete an approved course in residential mortgage origination or servicing. After completing the course, applicants must pass an exam administered by NAMB.

The cost of becoming a Certified Residential Mortgage Specialist varies depending on which courses are taken and how long it takes to complete them. Generally speaking, it costs around $1,000-$2,000 to become certified.

5. Certified Mortgage Loan Originator (CMLO)

A Certified Mortgage Loan Originator (CMLO) is a professional who has completed the necessary training and licensing requirements to originate, process, and close mortgage loans. CMLOs are required to have a thorough knowledge of loan products and the ability to advise borrowers on the best loan options for their individual needs.

In order to become a CMLO, an individual must first complete 20 hours of pre-licensure education from an approved provider. This education must include topics such as consumer protection laws, ethics, lending standards, and other related topics. After completing this coursework, applicants must then pass the National Mortgage Licensing System (NMLS) exam. The NMLS exam consists of two parts: a state-specific component and a national component.

Once an individual has passed the NMLS exam, they will be eligible to apply for a CMLO license in their state. Each state has its own licensing requirements that must be met before an individual can become licensed as a CMLO.

The cost of becoming a CMLO varies depending on the state in which you are applying for your license. Generally speaking, it can cost anywhere from $100-$500 to obtain your license depending on the state's fees and requirements. It typically takes anywhere from 4-8 weeks to receive your license after submitting your application materials.

6. Certified Home Lending Advisor (CHLA)

A Certified Home Lending Advisor (CHLA) is a professional designation that recognizes individuals who have completed an advanced course of study in the home lending industry. The CHLA designation is awarded by the Mortgage Bankers Association (MBA) and signifies that an individual has achieved a high level of expertise in the field of mortgage origination, loan servicing, and other related areas.

The CHLA program consists of three levels: Foundational, Intermediate, and Advanced. To obtain the CHLA designation, candidates must successfully complete all three levels within a two-year period. Each level consists of online courses, exams, and practice tests that cover topics such as loan origination processes, loan servicing regulations, consumer protection laws, and more.

To become a CHLA candidate, applicants must meet certain eligibility criteria including having at least two years of experience in the mortgage banking industry or equivalent education/training. Additionally, candidates must pass a background check and adhere to the MBA’s code of ethical standards.

The cost to become a CHLA candidate varies depending on the number of courses taken and whether or not you are eligible for any discounts. Generally speaking, it costs between $2,000 - $3,000 to become certified.

7. Certified Home Loan Consultant (CHLC)

A Certified Home Loan Consultant (CHLC) is a professional designation that demonstrates an individual’s expertise in the home loan industry. This certification is awarded by the National Association of Mortgage Brokers (NAMB), and it requires an extensive knowledge of the mortgage industry and its regulations.

In order to become a CHLC, applicants must have at least three years of experience in the mortgage industry and must pass a comprehensive exam. The exam covers topics such as loan origination, underwriting, loan processing, closing procedures, and other related topics. The exam takes approximately four hours to complete and consists of 150 multiple-choice questions.

The cost for becoming a CHLC varies depending on whether or not you are already a NAMB member. For non-members, the cost is $395; for members, the cost is $295. Once you have passed the exam and paid your fees, you will receive your certification within two weeks.

The CHLC designation can be beneficial for those who want to demonstrate their knowledge in this field to potential employers or clients. It also serves as a way to stay up-to-date on changes in laws and regulations that affect the mortgage industry so that professionals can remain competitive in this ever-changing market.

8. Certified Mortgage Planning Specialist (CMPS)

Certified Mortgage Planning Specialist (CMPS) is a professional designation offered by the Mortgage Bankers Association (MBA). It is designed to recognize mortgage professionals who have met the highest standards of ethical and professional conduct, as well as demonstrated expertise in mortgage planning. The CMPS certification requires a minimum of 30 hours of specialized training and education, which must be completed within two years of joining the program.

To become a Certified Mortgage Planning Specialist, you must first complete an approved educational program through either an MBA-approved school or an online course provider. After completing the required coursework, you must pass a comprehensive exam administered by the MBA. Once you have passed the exam, you will receive your CMPS designation and be eligible to apply for membership in the MBA’s Certified Mortgage Planning Specialists Network.

The cost of becoming a Certified Mortgage Planning Specialist varies depending on the educational program chosen and other factors such as whether or not you are already a member of the MBA. Generally speaking, it typically costs between $500-$1,000 to become certified.

9. Accredited Mortgage Professional (AMP)

Accredited Mortgage Professional (AMP) is a designation offered by the Canadian Association of Accredited Mortgage Professionals (CAAMP). It is a professional certification that recognizes mortgage professionals with the highest level of expertise and knowledge in the industry.

It takes approximately six months to complete the AMP program. To become an AMP, you must first complete an approved course or courses from an accredited institution. These courses cover topics such as mortgage financing, mortgage insurance, legal aspects of mortgages, and risk management. Once you have completed your coursework, you must then pass a written exam administered by CAAMP.

The cost of becoming an AMP varies depending on the institution offering the coursework and whether or not you are eligible for any discounts or subsidies. Generally speaking, it can cost anywhere from $500 to $2,000 to become an AMP.

Once you have completed all requirements and passed the exam, you will be awarded the Accredited Mortgage Professional designation and will be able to use it on your business cards and other marketing materials.

10. Loan Originator License from the Nationwide Multistate Licensing System & Registry

The Loan Originator License from the Nationwide Multistate Licensing System & Registry (NMLS) is a license that allows individuals to originate loans in multiple states. This license is required for any individual who wants to originate loans in more than one state.

In order to obtain the Loan Originator License, applicants must first complete an online application through the NMLS website. The application process includes providing personal information, such as name, address, and Social Security number; submitting fingerprints for a background check; and completing pre-licensing education courses. Once the application is submitted, it will take approximately four to six weeks for the NMLS to review and approve the application.

The cost of obtaining a Loan Originator License varies depending on the state in which you are applying. Generally speaking, there are fees associated with submitting an application and taking pre-licensing education courses. Additionally, some states may require additional fees or documents before granting a license.

Once approved, the Loan Originator License is valid for two years and must be renewed every two years in order to remain active. Renewal requires completion of continuing education courses and submission of renewal fees.

11. FHA DE Underwriter Certification

FHA DE Underwriter Certification is a specialized certification that allows mortgage lenders to originate, process, underwrite and close FHA-insured loans. The certification is granted by the Department of Housing and Urban Development (HUD) and requires that the lender have an approved FHA DE Underwriter on staff. This individual must meet certain educational requirements, pass an examination, and complete a training course in order to be certified.

The process of obtaining FHA DE Underwriter Certification can take up to six months or longer depending on how quickly the required paperwork is completed. In order to become certified, the lender must submit an application package that includes proof of education and experience in mortgage underwriting as well as a passing score on the HUD-approved exam. The cost for this certification varies depending on the lender’s specific requirements but typically ranges from $500-$1,000.

Once certified, FHA DE Underwriters are responsible for ensuring that all loan applications meet HUD guidelines before they are approved. This includes reviewing credit reports, verifying employment history, evaluating income sources and assessing appraisals. They also review closing documents to ensure accuracy before signing off on them. Additionally they may be called upon to provide guidance and advice to other departments within their organization regarding FHA loan processing procedures.

Do You Really Need a Mortgage Loan Officer Certificate?

No, you do not need a mortgage loan officer certificate to become a mortgage loan officer. There are other ways to become a licensed and certified mortgage loan officer, such as taking classes or completing an online training program. The certificate is not required by any federal or state laws, but it may be beneficial in certain situations.

For example, having a certificate may increase your chances of getting hired by a lender or bank and provide you with additional knowledge and experience. It can also help differentiate you from other applicants when applying for jobs and make you more attractive to potential employers. Additionally, the certificate may give you access to additional resources and tools that could help speed up the process of obtaining loans for your clients.

Ultimately, whether or not you should get a mortgage loan officer certificate depends on your personal goals and preferences. If you feel that having the certificate would be beneficial to your career prospects, then it might be worth investing in one.

Related: Mortgage Loan Officer Resume Examples

FAQs About Mortgage Loan Officer Certifications

1. What is a mortgage loan officer certification?

Answer: A mortgage loan officer certification is a professional designation earned by individuals who have fulfilled certain educational, experience and licensing requirements. These certifications are intended to demonstrate competency and professionalism in the field of mortgage lending.

2. What qualifications do I need to become a certified mortgage loan officer?

Answer: To become a certified mortgage loan officer, you must typically meet the following criteria: hold an active license as a loan originator, complete 20 hours of approved pre-licensure education with an additional 8 hours of continuing education each year, pass the National Mortgage Licensing System (NMLS) exam, and adhere to all applicable federal and state laws.

3. Are there different types of certifications for mortgage loan officers?

Answer: Yes, there are several different types of certifications available for mortgage loan officers such as Certified Mortgage Banker (CMB), Certified Mortgage Specialist (CMS), Certified Residential Mortgage Specialist (CRMS) and more.

4. How long does it take to become certified as a mortgage loan officer?

Answer: The length of time it takes to become certified as a mortgage loan officer depends on your individual circumstances such as educational background, experience level and state requirements. Generally speaking, it can take anywhere from one month to one year or longer depending on these factors.

5. How much does it cost to become a certified mortgage loan officer?

Answer: The cost of becoming a certified mortgage loan officer varies depending on the certification program you choose to pursue as well as any associated fees such as registration fees or testing fees. Generally speaking, you should expect to invest some money into your training and certification process in order to ensure that you meet all necessary requirements and obtain the best possible outcome for your career goals.