Mortgage Careers Overview
Mortgage Licensees (often referred to as Loan Officers) act as the intermediary between a lender that provides personal and business loans to consumers and the borrowers themselves. Their main goal is to find a loan that works for both the customer and the lender writing it. There’s a lot involved in the process, and Loan Officers must understand a range of banking laws and regulations — from fair housing to ethics.
A Mortgage Loan Originator (MLO) is an individual who works with a borrower and negotiates the terms of a residential mortgage loan transaction with various lenders.
What makes a Mortgage Loan Officer useful?
Serving first as an advisor to their clients, the Loan Officer has comprehensive knowledge of the loan types their lender offers and understands the general terms of each. They also take the time to understand a client’s financial and professional situation so they can identify which loans the client qualifies for.
These mortgage professionals help clients by evaluating their financial situation and determining the best loan for them, including the terms and amount. A good loan officer also stays on top of the latest information (like special interest rates that may be available for only a short time) so clients don’t miss opportunities before they expire.
What makes a good Mortgage Loan Officer?
The best Loan Officers prove their value when a client’s situation isn’t straightforward; someone working through a difficult financial stretch, or just beginning to build credit. A good loan officer spots opportunities a client may not qualify for today but could in the near future, and guides them there honestly and ethically.
It’s also a role that rewards diligence. Mortgage rules and loan programs change constantly, so a strong loan officer stays current and pays close attention to the details of every file — because in lending, small details can make the difference between an approval and a denial.
Just as important are the people skills. A mortgage is one of the largest financial commitments most people ever make, and clients often feel anxious navigating it. A good loan officer listens, explains each step in plain language, and keeps things moving so clients feel informed and confident from application to closing. That trust is what turns a single transaction into referrals and repeat business… and what separates a good loan officer from a great one.
Interested in this career path? The next step is to become a licensed Mortgage Loan Officer.
Mortgage Courses
NY SAFE Mortgage Loan Originator
No experience necessary
20 Hours
Start your mortgage career with our 20-hour NMLS-approved course. Learn to guide borrowers through the lending process and prepare to pass the SAFE exam.
Course is available via Zoom & online self-study.
NY SAFE MLO Continuing Education
Licensed MLOs
11 Hours
Renew your MLO license with our 11-hour NY SAFE Continuing Education course. It covers all the federal and New York–specific hours you need to stay licensed.
Course is available via Zoom & online self-study.
El H.
This recommendation is for Garry, one of the Property and Casualty Insurance Broker Pre-Licensing course instructors. He kept class interesting and fun and almost my whole class passed the exam the first time. He really seemed to care about his students and their comprehension of the material as opposed to just drilling the correct answers into us.
Jillian R.
At the time of writing this, I am about 75% done with my classes at REEDC and I am having such a great time that I felt compelled to write a review.
The instructor is very knowledgeable, funny and engaging. When you are there, you genuinely follow the material because it is taught so well.
Todd M.
I have just finished my course and exam here. I cannot say enough about this wonderful place! There is a great concern and devotion on the part of everyone there that your experience is positive and you are happy with your learning. Most impressive was the incredible effort put towards job placement, recruiting, and real world networking.
Jessie B.
The Property Casualty Insurance course was taught by Garry Smalley, a great instructor who engaged the class and made the whole experience worthwhile. Believe it or not, I remember laughing a few times in the class from some of the stories. I just got my license today! Passed on my first try, the course was more then enough if you are willing to study 1-2 hours a few nights a week
Paul L.
Just finished two weeks of classes, and I couldn’t be more pleased. The teacher, Greg is very impressive, having been in the field, and is a wealth of knowledge. He always has time to answer my many questions. I live in Brooklyn, and work in Manhattan, and if I don’t feel like coming into NY on weekends, I can go to their Brooklyn office, which works out well for me.
Susan M.
Frequently Asked Questions
How do I become a Mortgage Loan Originator in New York?
You’ll complete a 20-hour NMLS-approved pre-licensing course (including 3 hours of New York–specific content), pass the SAFE MLO exam, and apply for your license through NMLS. You’ll also need to be sponsored by a licensed mortgage banker or broker. No prior experience or degree is required to begin.
Do I need experience or a degree to start?
No. The 20-hour pre-licensing course is built for newcomers, with no degree or prior mortgage experience required. Once you complete the course and pass the SAFE exam, you’ll be ready to apply for your license and begin your career.
How soon can I start?
You can enroll right away. REEDC’s mortgage courses are delivered live over Zoom or as self-paced online study, so you can begin on your own schedule and work through the required hours at a pace that fits your life.
Do I need a sponsor to get licensed?
Yes. New York requires every MLO to be affiliated with a licensed mortgage banker or broker; you can’t originate loans independently. You can apply for your license before you’re hired, then affiliate with a sponsoring employer within 30 days of approval.
How do I keep my MLO license active?
New York MLO licenses renew annually and expire December 31st. To renew, you complete 11 hours of NMLS-approved continuing education each year (8 federal hours + 3 New York–specific hours) through your NMLS account.