Top 11 Mortgage Processor Certifications
This article provides an overview of the top certifications for mortgage processors, including required qualifications and benefits.
Published 18 min read
Certifications are important for a mortgage processor in the job market because they demonstrate that the individual has the knowledge and experience necessary to perform the job. Obtaining certifications shows employers that the individual is committed to their profession and has taken steps to stay up-to-date on industry trends and regulations. Certifications also provide evidence of an individual’s expertise, which can be helpful when competing with other applicants for jobs. Ultimately, having certifications gives mortgage processors a competitive edge in the job market.
The purpose of this article is to provide an overview of some of the most beneficial certifications for Mortgage Processors and how they can help advance their career.
What are Mortgage Processor Certifications?
Mortgage processor certification is a professional designation that recognizes individuals who have demonstrated a high level of proficiency and knowledge in the mortgage processing field. It signifies to employers, clients, and potential clients that the individual has attained a certain level of expertise in the industry. This certification can help professionals stand out from their peers, as it demonstrates commitment to ongoing education and training. It also provides an understanding of applicable laws and regulations, which helps processors stay up-to-date on the latest industry trends and changes. Additionally, having this certification may give professionals an edge when applying for jobs or seeking promotions within their current organization. Having this credential could also lead to greater earning potential as certifications can lead to higher salaries or faster career advancement opportunities.
Pro Tip: If you are looking to become a mortgage processor, consider getting certified. Certification can help you demonstrate your knowledge and skills in the field, as well as give you an advantage when it comes to job opportunities. Additionally, many employers offer tuition reimbursement for employees who pursue certification, so be sure to check with your employer for potential opportunities.
Related: What does a Mortgage Processor do?
Top 11 Mortgage Processor Certifications
Here’s our list of the best certifications available to Mortgage Processors today.
1. Certified Mortgage Processor (CMP)
A Certified Mortgage Processor (CMP) is a professional designation that recognizes individuals who have demonstrated expertise in the mortgage processing industry. The CMP designation is awarded by the National Association of Mortgage Processors (NAMP).
To become certified, applicants must pass an exam that covers topics such as mortgage loan origination, underwriting, closing and post-closing. The exam consists of multiple choice and true/false questions. Applicants must also have at least one year of experience in the mortgage processing field.
The certification process typically takes 4 to 6 weeks to complete. To begin the process, applicants must register for the CMP examination on the NAMP website and pay a fee of $200. After registering, applicants will receive an email with instructions on how to access their online study materials and take the exam.
Once applicants successfully pass the exam, they will be awarded their CMP designation and will receive a certificate from NAMP. This certificate is valid for two years and can be renewed by taking an additional exam every two years or by completing continuing education courses offered by NAMP.
2. Certified Mortgage Banker (CMB)
Certified Mortgage Banker (CMB) is a professional designation that recognizes mortgage bankers who have met the highest standards of professional performance and ethical conduct. The CMB designation is awarded by the Mortgage Bankers Association (MBA).
To become a CMB, applicants must meet certain requirements, including having at least five years of experience in the mortgage banking industry, passing an exam administered by the MBA, and agreeing to adhere to a code of ethics. Applicants must also demonstrate their commitment to continuing education and professional development.
The process for becoming a CMB typically takes six months or more. The first step is to submit an application to the MBA which includes providing evidence of your qualifications and experience. Once your application is approved, you will be able to take the CMB exam. Upon passing the exam, you will receive your official CMB designation from the MBA.
The cost for becoming a CMB depends on whether you are already an MBA member or not. For non-members, there is an initial fee of $400 plus an annual renewal fee of $100; for members, there is no initial fee but there is still an annual renewal fee of $100.
3. Certified Mortgage Compliance Professional (CMCP)
Certified Mortgage Compliance Professional (CMCP) is a professional certification program designed to recognize individuals who have demonstrated expertise in the field of mortgage compliance. The program is administered by the Mortgage Bankers Association (MBA) and was created to provide recognition for professionals who have attained a high level of proficiency in the areas of mortgage compliance, risk management, and regulatory compliance.
The CMCP certification process includes an online application, an examination, and a background check. The exam consists of multiple-choice questions covering topics such as mortgage regulations, consumer protection laws, and industry best practices. To be eligible to take the exam, applicants must have at least two years of experience in the mortgage industry or related field.
The cost to take the exam is $395 for MBA members and $495 for non-members. The fee covers the cost of taking the exam, processing fees, and any applicable taxes.
Once an individual has successfully passed the exam they will receive their CMCP certification which is valid for three years from the date it was issued. After three years they must renew their certification by submitting proof of continuing education credits earned since their last renewal.
In addition to passing the exam and maintaining their certification status through continuing education credits, CMCPs are expected to adhere to a code of ethics established by MBA that outlines principles such as integrity, fairness, honesty, respect for others’ rights and responsibilities, and professionalism.
4. National Association of Mortgage Processors (NAMP) Professional Certification
The National Association of Mortgage Processors (NAMP) Professional Certification is an industry-recognized certification program that validates an individual’s knowledge and expertise in the mortgage processing field. The certification is designed to help mortgage professionals demonstrate their commitment to excellence and stay ahead of the competition.
To obtain the NAMP Professional Certification, individuals must successfully complete a comprehensive examination that covers topics such as loan origination, loan processing, underwriting, closing, post-closing, compliance, and other related areas. The exam consists of 100 multiple choice questions and takes approximately two hours to complete.
In order to be eligible for the NAMP Professional Certification exam, applicants must have at least one year of experience in the mortgage industry or have completed a NAMP approved training program. Additionally, applicants must also pay a fee of $150 USD.
Once an individual has successfully passed the exam, they will receive their official NAMP Professional Certification certificate and will be listed on the NAMP website as a certified professional. This certification is valid for three years from the date of issuance and can be renewed by passing another examination or completing additional training courses approved by NAMP.
5. American Bankers Association Certified Mortgage Banker (ABA-CMB)
The American Bankers Association Certified Mortgage Banker (ABA-CMB) is a professional designation for mortgage bankers that demonstrates knowledge and expertise in the mortgage banking industry. It is awarded by the American Bankers Association (ABA), a national trade organization representing banks of all sizes and charters.
To become an ABA-CMB, individuals must have at least three years of experience in the mortgage banking industry, complete a comprehensive course of study, pass an examination administered by the ABA, and agree to abide by the ABA Code of Professional Conduct. The ABA-CMB program is designed to ensure that mortgage bankers meet high standards of knowledge and professionalism.
It typically takes between 8-12 months to complete the requirements for becoming an ABA-CMB. The process begins with registering for the program online or via mail. Once registered, applicants will receive access to study materials which include textbooks, practice exams, and other resources. After studying these materials, applicants must pass a proctored exam at an approved testing center. Upon successful completion of the exam, applicants will be awarded their ABA-CMB certification.
The cost for becoming an ABA-CMB varies depending on how you register for the program and whether or not you need to purchase additional study materials such as textbooks or practice exams. Generally speaking, it costs around $1,000-$2,000 USD to become certified.
6. Certified Loan Processor (CLP)
Certified Loan Processor (CLP) is a certification program designed to give loan processors the skills and knowledge necessary to effectively process mortgage loans. The CLP certification is offered by the National Association of Mortgage Processors (NAMP). It is a comprehensive training program that covers all aspects of loan processing, from pre-qualification to closing.
The CLP certification requires completion of an online course and passing an exam. The online course typically takes around 20 hours to complete, depending on the student’s learning pace. After completing the course, students must pass a proctored exam in order to receive their CLP certification.
To get certified, you must first register for the CLP program through NAMP’s website. Once registered, you will be given access to the online course material and instructions on how to take the exam. You can then proceed with taking the course at your own pace and schedule your proctored exam when you are ready.
The cost for taking the CLP program is $399 USD, which includes access to all of the course materials as well as one attempt at taking the proctored exam. If you need additional attempts at taking the exam, there is an additional fee of $99 USD per attempt.
7. FHA DE Underwriter Certification
FHA DE Underwriter Certification is a certification program offered by the Federal Housing Administration (FHA) to ensure that mortgage underwriters have the knowledge and skills necessary to properly evaluate FHA loans. This certification is required for any individual who will be responsible for approving or denying FHA loans.
The certification process typically takes between four and six weeks, depending on the applicant’s experience level and the availability of training materials. In order to become certified, applicants must complete an approved course of study, pass a comprehensive exam, and submit an application package with all required documentation.
The cost of obtaining FHA DE Underwriter Certification varies depending on the provider chosen. Generally speaking, it can range from $500-$2,000. It is important to research different providers to find one that offers quality training at a reasonable price.
In order to get started on the path towards FHA DE Underwriter Certification, applicants should contact their local HUD office or search online for approved course providers in their area. Once they have identified a provider, they can register for classes and begin studying for the exam. After successfully completing all requirements, they will receive their certification from HUD and be qualified to work as an FHA DE Underwriter.
8. VA Loan Processor Certification
VA Loan Processor Certification is a certification that provides specialized training for loan processors who work with VA loans. The certification requires completion of a comprehensive course and exam, which covers topics such as VA loan eligibility requirements, the application process, underwriting guidelines, and closing procedures. It also provides an understanding of how to properly handle VA loans in order to ensure compliance with all applicable laws and regulations.
The certification program typically takes around 8-10 hours to complete and includes both online and classroom instruction. To get certified, you must pass the exam with a score of 80% or higher. The cost of the certification program varies depending on the provider but typically ranges from $200-$500.
In addition to completing the coursework and passing the exam, you must also meet certain requirements set by the Department of Veterans Affairs (VA). These include having at least two years of experience in mortgage lending or processing, being employed by an approved lender or servicer, and successfully completing a background check. Once these requirements are met, you will receive your official VA Loan Processor Certification.
9. National Notary Association's Certified Signing Agent Program
The National Notary Association's Certified Signing Agent Program is a professional certification program that provides specialized training and certification to notaries public who are interested in becoming a certified signing agent. This certification demonstrates that the notary has the knowledge and skills necessary to properly execute loan documents and other legal documents.
The program consists of two parts: an online course and an in-person exam. The online course, which takes about 3 hours to complete, covers topics such as document types, loan packages, best practices for signing agents, and more. After completing the online course, applicants must pass an in-person exam administered by a NNA-approved proctor. The exam is designed to test the applicant’s knowledge of notary laws, procedures, and best practices.
To get the Certified Signing Agent Program certification, applicants must pay a fee of $125.00 (plus applicable taxes). Once they have successfully completed the online course and passed the in-person exam, they will receive their certificate of completion from the NNA.
In total, it takes approximately 4 hours to complete the entire Certified Signing Agent Program process (3 hours for the online course and 1 hour for the in-person exam).
10. National Mortgage Licensing System and Registry (NMLS) Certification
The National Mortgage Licensing System and Registry (NMLS) is a system created by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR). It is an online system that provides state-level licensing and registration information for mortgage companies, loan originators, and other financial services providers. The NMLS also provides a secure platform for lenders to submit license applications, renewals, and changes in their business operations.
It typically takes about two weeks to receive your NMLS certification after you have submitted all required documents. To obtain an NMLS certification, you must complete the following steps:
1. Create an NMLS account
2. Submit your application with all supporting documents
3. Pass the required tests
4. Submit fingerprints for a background check
5. Pay the applicable fees
6. Receive approval from your state regulator
7. Receive your NMLS certification number
The cost of obtaining an NMLS certification varies depending on the type of license you are applying for and which state you are applying in. Generally speaking, it can range anywhere from $50 to $500 or more depending on the type of license you need and any additional requirements imposed by your state regulator.
11. Home Equity Conversion Mortgage Counselor Certification
Home Equity Conversion Mortgage (HECM) Counselor Certification is a professional certification for individuals who provide counseling services to seniors interested in reverse mortgages. The certification is administered by the U.S. Department of Housing and Urban Development (HUD) and requires counselors to complete an approved training program, pass an examination, and meet other requirements.
The HECM Counselor Certification Program consists of a two-day workshop that covers topics such as reverse mortgage products, eligibility requirements, closing costs, loan servicing, financial assessment, consumer protection laws and regulations, and more. Upon completion of the workshop, counselors must pass a comprehensive written exam covering all topics covered in the workshop. Once certified, counselors are required to complete continuing education courses every two years in order to maintain their certification status.
To become certified as a HECM Counselor, you must first register with HUD’s Office of Homeownership Education and Counseling (OHEC). You will then need to complete an approved training program from an OHEC-approved provider. The cost of the program will vary depending on the provider chosen but typically ranges from $400-$800. After completing the training program and passing the written exam, you will receive your official HECM Counselor Certification from HUD.
Once certified as a HECM Counselor, you will be eligible to provide counseling services for seniors interested in reverse mortgages through HUD-approved housing counseling agencies or through private practice settings.
Do You Really Need a Mortgage Processor Certificate?
Whether or not you need a mortgage processor certificate depends on your career goals and the job market in your area. If you are looking to specialize in the mortgage industry, then a certificate can be beneficial to help demonstrate your knowledge and dedication to this field. In addition, if there is a competitive job market for mortgage processing positions in your area, having a certification can give you an edge over other candidates who do not have one.
On the other hand, if you’re just starting out in the mortgage industry or don’t plan on making it your primary focus, then a certificate may not be necessary. There are many other ways to build up knowledge and experience such as reading relevant books or articles, attending webinars or workshops, and speaking with experienced practitioners. Additionally, even if you do decide to pursue a certificate program, most employers will value direct experience more than any type of formal training.
In conclusion, whether or not you need a mortgage processor certificate is ultimately up to you and what kind of career path you want to pursue. It can be beneficial for those who want to become specialized in this field and make it their main focus; however, it is not essential for those who are just starting out or don’t plan on specializing in mortgage processing.
Related: Mortgage Processor Resume Examples
FAQs About Mortgage Processor Certifications
Q1. What is a Mortgage Processor Certification?
A1. A Mortgage Processor Certification is a professional designation that certifies an individual as having achieved a certain level of expertise in the field of mortgage processing. The certification is awarded by an accredited organization, such as the National Association of Mortgage Processors (NAMP).
Q2. How do I become certified as a Mortgage Processor?
A2. To become certified as a Mortgage Processor, you must meet certain qualifications, including completing an approved course or program and passing the NAMP certification exam. Additionally, many states require mortgage processors to obtain licensure or registration with their state banking regulators.
Q3. How long does it take to become certified?
A3. The amount of time it takes to become certified varies depending on your experience and the requirements for the certification program you choose to pursue. Generally speaking, it can take anywhere from six months to two years to complete all necessary coursework and pass the certification exam.
Q4. What are the benefits of becoming certified?
A4. Becoming certified as a Mortgage Processor offers numerous benefits, including increased job opportunities, higher wages, and greater job security in today’s competitive mortgage industry. Additionally, being certified demonstrates your commitment to professional excellence and provides employers with assurance that you have achieved a high degree of proficiency in mortgage processing techniques and procedures.
Q5. Are there continuing education requirements for maintaining my certification?
A5: Yes, most organizations offering certifications require individuals to complete continuing education courses in order to maintain their certification status. Depending on the organization offering the certification, this may include completing online courses or attending seminars related to mortgage processing topics such as underwriting guidelines or compliance regulations