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 is the entry-level education and testing requirements for loan originators?
Loan originators are required to take a 20-hour entry-level course that has been approved by the Mortgage Lending Education Board (MLEB) and pass the state mortgage lending examination before taking any loan applications. A person may take the course and the test before being hired by a mortgage banker or mortgage broker.

How long does it take to get certified as a mortgage loan originator?
Since the course is only 20 hours, you can complete it in less than one week. It’s up to you how quickly you’re able to complete the coursework and pass the exam.

How much is the state exam?
The examination fee is $90. Payment may be made by credit card (VISA, MasterCard,
American Express or Discover), cashier’s check or money order made payable to AMP. Credit card transactions that are declined will be subject to a $25 handling fee. If a credit card transaction is declined, you must send a certified check or money order for the amount due, including the handling fee, to AMP. Cash and personal checks are NOT acceptable forms of payment. Examination registration fees are not refundable and expire in six months.

Where is the exam given?
Examinations are administered by computer at over 160 AMP Assessment Centers throughout the United States. Assessment Centers are typically located in H&R Block offices. AMP has assessment center locations in Bend, Coos Bay, Eugene, Klamath Falls, Medford, Portland, Roseburg, and Salem. Assessment Center locations, detailed maps and directions are available on AMP’s website, www.goAMP.com. Specific address information will be provided when you schedule an examination appointment.

Can I schedule my exam online?
You may schedule an examination appointment online at any time by using the Online Application/Scheduling service at www.goAMP.com. To use this service, follow these easy steps:

• Go to www.goamp.com and select "Candidates"
• Follow the simple, step-by-step instructions to choose your examination program and schedule your examination.

I have taken several classes over the past two years. May I apply any of those courses to the entry-level or continuing education requirement?
You can only apply courses that have been certified by the MLEB. You will need to verify if any of the classes were certifified by the MLEB. The MLEB website has a list of approved providers.

I took a class that was certified after I took the class. Can I use that class towards my education requirement?
No. If the company offering the class did not have the course certified at the time you took it, it can not be used toward your education requirement even if it is certified at a later date.

Do I need a college degree to become a mortgage broker?
No, the only education required is a state-approved 20-hour course like ProSchools’. 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 certification requirements, click here.

What kind of financial investment does it take to start a career in mortgage lending?
Next to nothing. For under $350, you can be trained, tested, certified, 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 continuing education and testing requirements?
During each 24-month period from the loan originators "continuing education date," loan originators are required to take 20 hours of continuing education courses that have been approved by the MLEB.

Can I carry over continuing education hours from one 24-month cycle
to the next?
No, continuing education hours can not be carried over between periods.

What is the difference between a “registered loan originator” and a “licensed mortgage broker” in Oregon?
Loan originators are NOT required to be licensed in Oregon. However, they are required to show that they have completed 20 hours of education and passed a state exam in order to work as a loan originator. Loan originators generally work for mortgage brokers who must be licensed and bonded. 

For more details on becoming a loan originator, click here.