How can I learn more about what a career in mortgage lending really offers?
Visit the career information section of our Web site for a helpful overview of the exciting world of mortgage lending. Talking to successful professionals is another great way to learn more about being a mortgage broker on a daily basis. Check out our free articles to help you decide if a career in mortgage lending is right for you!

What are the education and testing requirements?
Beginning January 1, 2007, applicants must provide evidence that they have completed twenty-four hours of prelicensing education provided by a vendor approved by the Division and pass a knowledge exam. ProSchools currently does not offer a program of study for Ohio. Please contact the Ohio Department of Commerce for a list of approved schools.

What is the Ohio Division of Financial Institutions?
The Division regulates state-chartered financial institutions and consumer finance companies.

What are the qualifications for mortgage broker operations managers?
Persons applying for a mortgage broker operations manager license must:

• Prior to applying, complete 24 hours of prelicense education in a course or program of study approved by the division
• Pass a knowledge exam
• Submit to a criminal background check
• If not already licensed as a loan officer, submit a Loan Officer Application and $100 application fee
• Manage day-to-day operations of a company
• Be an operations manager for only one Ohio Mortgage Broker Act registrant
  

What are the license requirements for loan officers ?
Persons applying for a loan officer license must:

• Prior to applying, complete 24 hours of prelicense education in a course or program of study approved by the division
• Pass a knowledge exam
• Submit to a criminal background check
• Be an employee and only work for one mortgage broker at any one time

Do I need a college degree to become a mortgage broker?
No. For a mere fraction of the cost of an associate’s or bachelor’s degree, you could be earning a six-figure income as a mortgage pro! For more details on state licensing requirements, click here.

What kind of financial investment does it take to start a career in mortgage lending?
Next to nothing. For under $1,000, you can be trained, tested, licensed and ready to cash in on this lucrative career.

Should I get any additional books on the subject?
Sure, reading as much as you can about succeeding as a new mortgage broker is a wise strategy. ProSchools offers an array of books in our online bookstore.

What are the license renewal and continuing education requirements?
Loan officer licenses are valid from May 1 through April 30 of the following year and may be renewed annually by paying a $100 license fee and submitting proof that the applicant for renewal has completed six hours of continuing education conducted by a Division-approved vendor.

For more details on becoming a licensed mortgage lender, click here.