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Maine Mortgage Broker License Requirements
Maine law requires all individuals seeking licensure as a supervised lender, loan broker or registered loan officer prior to January 31, 2008, to complete a minimum of 12 credit-hours of approved courses before January 31, 2008. Anyone seeking licensure as a supervised lender, loan broker or registered officer after January 31, 2008, must complete a minimum of 16 credit-hours of education prior to qualification. Of those 16 credit-hours, at least two hours must consist of a review of Maine laws and rules and two hours of ethics and ethical considerations affecting the mortgage industry.
To work as a mortgage loan officer in Maine prior to January 31, 2008, you need to:
- Register online at www.credit.maine.gov. This online process must be completed for each loan officer by the supervising lender or mortgage broker you will be working for. The fee is $20 per loan officer.
- Complete a minimum of 12 credit-hours of approved courses prior to January 31, 2008.
To work as a mortgage loan officer in Maine after January 31, 2008, you need to:
- Register online at www.credit.maine.gov. This online process must be completed for each loan officer by the supervising lender or mortgage broker you will be working for. The fee is $20 per loan officer.
- Complete a minimum of 16 credit-hours of approved courses prior to qualification. Of those 16 credit-hours, at least two hours must consist of a review of Maine laws and rules and two hours of ethics and ethical considerations affecting the mortgage industry.
- Complete an additional 12 credit-hours of approved education during each subsequent 12-month period. Of those 12 credit hours, one hour must consist of a review of Maine laws and rules and one hour of ethics and ethical considerations affecting the mortgage industry.
Maine Mortgage Lending License Exam Information
Maine law currently does not require an examination to become a mortgage loan officer.
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