Iowa Mortgage Loan Originator Registration Requirements
Loan originators need 20 hours of prelicense education. Registration is required for any person who is employed by, under contract with, or an agent of a mortgage banker or mortgage broker licensee and who makes, originates, or arranges or negotiates, or attempts to arrange or negotiate, a loan secured by an owner-occupied 1 to 2 family dwelling in Iowa.

The pre-requisites for registering as a loan originator are:

1. Completed, signed and notarized Uniform Application. Include check or money order for the application fee, payable to the Superintendent of Banking in the amount of $90.
2. Pass a National Criminal background check.
3. Complete 20 hours of education. The education must include a minimum of 3 hours of federal law and regulations, 3 hours of ethics, and 2 hours related to lending standards for nontraditional mortgage product marketplace.
4. Pass the Iowa Mortgage Loan Originator Examination.
5. Register with the National Mortgage Licensing Registry (NMLS).

Iowa Mortgage Lending License Exam Information

The Iowa Mortgage Loan Originator Examination is administered by Pearson VUE. To pass the exam, you must score at least a 75%. To locate a testing center or sign up for the test visit www.pearsonvue.com.