Top 4 MLO NMLS Course Providers in Florida – Mortgage Loan Originator
If you are interested in becoming one of the approximately 37,000 loan originators in Florida, you are getting in at a good time. Florida is experiencing among the strongest growth for loan origination compared to the rest of the country.
While you don’t need any previous real estate experience, you do need to obtain a license. This is a fairly simple process. You just need to complete the 20-hour course and pass the National Exam.
When searching for a school, you will realize there are a lot of options out there. They all say the same things like:
- “We’re the best!”
- “Our instructors are the most experienced!”
- “Your success is guaranteed!”
After doing some research on each school, I found that there were some things every school did the same and some things that were different.
Every course provider has to follow strict NMLS guidelines in order to be an accredited school. Here are some examples of the things every school does. If they don’t, that is a major red flag, and you should run!
- NMLS requires that the 20-hour course is “instructor-led.” This means you are put in a group with an instructor. This doesn’t necessarily mean you have to show up at a certain time. It just means the instructor will interact with you in some manner, usually it’s via chat or discussion forum. They are also a great resource to use if you have questions.
- All 20-hour courses will start and end on specific dates. This is not like other online courses where you get a year of unlimited access to study whenever you want. The NMLS does not like that kind of online format.
- Your time in the course will be tracked—one way or another. Whether you take an online course or go to a live classroom, you will have to spend 20 actual hours to complete the course. There are no shortcuts.
I found there are only 3 major factors that will determine which school is the best.
- Price: Every school has the freedom to set their own price. My only advice here is don’t go with a school just because it’s cheaper. If a school is cheaper, there is usually a reason for it (low quality). This will come and bite you later on. For example, the average pass rate for the National Exam is 58%. If you don’t pass it on your first try, you have to pay the $110 exam fee again and wait another 30 days to re-attempt it.
- Quality: Every school develops their own courses and content. Since you are trying to launch a new career, my suggestion is to set yourself up for success by choosing the provider that has the best and most reputable program.
- Course availability: Every school has their own start dates and course schedule. This will vary widely. Some programs are only 2 days long while others can last for 2 weeks. Some schools require you to show up at certain times while others do not. Regardless, they will cover the same 20 hours of content.
Now that you got a quick crash course on what to expect, here is my review of the best NMLS course providers in Florida to start your career as a Mortgage Loan Originator.
Allied Schools is the biggest and most well known real estate school in Florida. You can’t go wrong with their program. They have been the industry leaders for almost 30 years. The course is text-based and offers a lot of flexibility to study whenever you want, so if you have a full-time job or other commitments, this will be the best option for you. The only limitation is they only offer the 20-hour course once every two weeks. However, you get immediate access to over 1,000 online practice test questions, so you can study for the National Exam while you wait for the scheduled start date.
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Mortgage Educators and Compliance is one of the biggest mortgage schools in the country. They incorporate a video format, which makes it more engaging. However, there are activities and quizzes that you have to complete every 5 minutes, so you will definitely have to be 100% focused the whole time. There is also a live webinar option, which lasts 3 days. However, the webinars are only offered three times per month, and you would need to add-on the 2-hour Florida course (total of 22 hours).
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MortgageEducation.com, based in New York, has the most comprehensive mortgage program in the country. They are one of a few schools that cover all 50 states as well as provide continuing education for after you get licensed. This is really handy, especially if you have your sights set on being licensed in multiple states. Since they cover all the states, you will be able to get all your courses from one school very easily. Their 20-hour course has a very unique format compared to all the other schools. You can finish in as little as 3 days or take up to 5 days. You are required to login at specific times during the day, so if you are working full-time, this may not work with your current schedule.
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New classes start every Tuesdays
There are 9 independent sessions held during the week. You need to attend any 6 out of the 9 available sessions to complete the course.
Two sessions are available each day from Tuesday through Friday, and one shorter “cram” session on Saturday
Tuesday through Friday
Session starts at 10 am to 2 pm EST
Session starts at 3 pm to 7 pm EST
Saturday (Cram Session)
Session starts at 12 pm to 3:15 pm EST
You are given the freedom to choose any session, which means if you pick the first 6 sessions, you can finish in 3 days (Tuesday through Thursday).
OnCourse Learning’s mortgage program used to be under ProSchools. They have completely rebranded their courses and are the rising stars in the industry. The courses are text-based, and their instructors are highly knowledgeable with over 20 years of experience. What makes them stand out is their course availability. If you have a full-time job, you will have the best chance at finding something that fits your schedule with their program.
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