You are probably asking yourself why should I care? Let me explain
There is a big difference between a” Licensed Originator” and a “Registered Loan Officer”.
Licensed Loan Originator -
* 20 hours of training courses
* Pass National Licensing Test
* Pass State Licensing Test
* Criminal Background check
* Fingerprinted
* Credit report analyzed annually
* Listed on a national website for consumers to check status
Registered Loan Originator (bank employee)
* Routine background check-but by the bank they work for
* Listed on a national website for consumers to check status
Please check out my credentials at www.nmlsconsumeraccess.org, then enter my license number 245378.
If you have talked with other loan officers (which I encourage you to do) please ask for their license number and check them out as well.
And if they don’t have one? Well…if I were you, I’d think twice!