How to be an Oregon Mortgage Loan Originator
You’re required by Oregon law to take a 20-hour entry-level course and pass an exam. You’ll receive certification as proof of course completion, but no formal license. The course and exam cover state and federal laws and rules relating to mortgage lending. 

To originate loans in Oregon, you must take the course and pass the exam. The course and exam must be certified and approved by the Oregon Mortgage Lending Education Board (MLEB) as ProSchools’ course is.

To work as a mortgage loan originator in Oregon, you need to:

1. Complete a 20-hour entry-level course. It must be from an MLEB-accredited provider, like ProSchools. Our online mortgage loan originator course includes study materials, practice quizzes, and access to useful Web sites. The Internet format provides the flexibility to complete the coursework wherever and whenever it’s convenient for you.
2. Pass the state mortgage lending exam. You will need to pass a 100-question multiple-choice state exam with a score of 70% or better.
3. Keep your certificate. You must retain the original mortgage lending certificate for five years and provide a copy to your employer.

NEW requirements to be a licensed loan originators as of January 1, 2010
Beginning in 2010, the requirements to be a loan originator in Oregon will be:

• Complete an NMLS-approved 20 hour prelicense course.
• Pass the National component of the SAFE Mortgage Loan Originator Test.
• Pass the Oregon state exam. The Oregon portion of the exam will be administered through AMP until July 2010. After July 2010 the Oregon component of the SAFE Mortgage Loan Originator Test will need to taken.
• Register and obtain a Unique Identifier through the NMLS.

Visit our License FAQ page or contact a ProSchools' Course Consultant at 1-800-452-4879 for more information regarding the changes to licensing requirements for Oregon mortgage loan originators.

Oregon Mortgage Lending License Exam Information

Oregon law requires all entry level students pass a state-approved exam prior to working as a loan originator.

New Oregon mortgage lenders must pass a computerized license examination. As of May 1, 2007, the Oregon Loan Originator Examination is administered by computer by appointment only with AMP. AMP Assessment Centers are typically located in H&R Block offices. Please visit AMP’s website at www.goAMP.com for a complete list of locations. Once you enter the H&R Block office, look for the signs indicating AMP Assessment Center check-in.

To schedule an exam, you will need to provide the following information:

1. Personal information – legal name, address, work e-mail address and work phone number
2. Username and password – 4-15 characters (letters and numbers) in length
3. Name of the company you work for, including state and county locations
4. School name and course number of the mortgage lending course you completed
5. Exam fees paid in full by credit card

Visit www.goamp.com for more exam reservation guidelines, and a list of all AMP test center locations and hours of operation. Examinations are administered by appointment only Monday through Saturday at 9:00 a.m. and 1:30 p.m. Individuals are scheduled on a first-come, first-served basis.

SAFE Mortgage Loan Originator Test Information

The SAFE Mortgage Loan Originator Test consists of two separate exams called "components". :

1. National component (100 questions with 90 scored and 10 unscored): The exam will cover: 1) Federal mortgage-related laws (35%); 2) General mortgage knowledge (25%); 3) Mortgage loan origination activities (25%); 4) Ethics (15%)
2. The Oregon component will not be available until August 1, 2010. Until then the Oregon state exam will be administered through AMP.

To schedule and take an exam you must:

1. Create an account in NMLS. Anyone seeking a license must have or create an account in NMLS prior to enrolling.
2. Enroll in the National and/or State-specific test. The fees for the exam will be paid at the time of enrollment through the NMLS.
3. Study for the exam. Note: You are not required to complete your prelicense education prior to taking the exam!
4. Schedule your exam through either Prometric or Pearson VUE. The test is administered at nearly 500 locations nationwide.
5. Arrive at the test center 30 minutes prior to your appointment with current government-issued ID that contains a photo and signature.