How long does it take to get certified as a mortgage lender?
Your application will be reviewed by the Department within 60 days.

What are the education and testing requirements?
You’re required by Pennsylvania law to apply for a license. Click here for the Loan Correspondent license application and instructions. Education and testing is not required to become a licensed mortgage professional.

What is the Pennsylvania Department of Banking?
Pennsylvania’s Department of Banking has ensured the safety and soundness of state-chartered financial institutions. 

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 certification requirements, click here.

What kind of financial investment does it take to start a career in mortgage lending?
Next to nothing. For under $450, 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 continuing education requirements?
Pennsylvania requires one separate mortgage professional at each licensed location to complete at least 6 credit hours of continuing education per annual renewal period, including 1 hour of Pennsylvania residential mortgage law and 1 hour of business ethics, in order for the licensee to renew its license. ProSchools has state-approved online education. For information on our online course, click here.

What is the annual renewal period?
The same as the licensing period; beginning July 1 of one calendar year and ending June 30 of the next calendar year.

Can I carry over continuing education hours from one renewal
to the next?
No.

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