This guide will walk you through the steps, requirements, and opportunities of becoming a licensed MLO in Oakland.

What is a Mortgage Loan Originator (MLO)?

A Mortgage Loan Originator (MLO) is a licensed professional who helps borrowers secure home loans. MLOs assess clients’ financial situations, explain loan options, and facilitate mortgage approvals through lenders.

MLOs are typically employed by banks, credit unions, mortgage brokerages, or can work independently.

Step 1: Meet Basic Requirements

To become an MLO in Oakland (or anywhere in California), you must meet these basic qualifications:

✅ Be at least 18 years old

✅ Have a high school diploma or GED

✅ Be able to pass a background check (criminal history may affect eligibility)

Step 2: Complete Pre-Licensing Education

California requires all MLO candidates to complete 22 hours of pre-licensing education (PE) through a Nationwide Mortgage Licensing System (NMLS)-approved provider. The coursework includes:

3 hours of federal mortgage laws

3 hours of ethics (fraud, consumer protection, fair lending)

2 hours of non-traditional mortgage lending

12 hours of electives

2 hours of DFPI California Mortgage Law Education (if you are not a DRE Licensed Realtor)

You can take all of your California mortgage pre-licensing courses online through 24hourEDU.

Step 3: Pass the SAFE MLO Exam

After completing your pre-licensing education, you must pass the SAFE Mortgage Loan Originator Test, which consists of:

📌 National Component – 125 multiple-choice questions

📌 State Component – California-specific regulations

You need a score of at least 75% to pass. The exam fee is $110, and it’s administered by NMLS.

NMLS EXAM Study Tips:

• Use NMLS test prep materials
• Take online practice tests
• Review California mortgage laws

Step 4: Get Fingerprinted & Background Checked

Before applying for your license, and after you pass the test, you must submit:

✔ FBI criminal background check – Fingerprinting through NMLS ($36.25 fee)

✔ Credit report check – To ensure financial responsibility ($15 fee)

A criminal record does not automatically disqualify you, but severe offenses (fraud, financial crimes) may affect your eligibility.

Step 5: Apply for Your California MLO License

Once you pass the SAFE MLO Exam and complete your background check, you must submit your California MLO license application through NMLS (Nationwide Mortgage Licensing System).

Application Fees:

💰 NMLS Processing Fee: $30

💰 CA-DFPI (Department of Financial Protection & Innovation) License Fee: $300

💰 Credit Report Fee: $15

💰 Background Check Fee: $36.25

After submission, the California DFPI will review your application, which may take a few weeks to process.

Step 6: Get Sponsored by a Mortgage Company

Before you can originate loans, you must be sponsored by a licensed mortgage company.

✔ Search for brokerages, banks, or credit unions hiring MLOs in Oakland

✔ Network with local mortgage professionals

✔ Attend Bay Area real estate and mortgage industry events

People typically ask: Do I need to be sponsored before I take a mortgage course?

You can complete ALL of the license requirements including pre-license education, without a sponsor.  Once sponsored, your employer will log into the NMLS approval, and officially activate your license.

Step 7: Start Your Career as an MLO

After receiving your license, you can start working as a Mortgage Loan Originator!

Job Opportunities in Oakland

🏡 Mortgage Brokerages – Work independently and shop for the best rates for clients

🏦 Banks & Credit Unions – Work as an in-house loan officer for financial institutions

💼 Real Estate Offices – Partner with agents to provide loan options to homebuyers

Average MLO Salary in Oakland, CA

💵 Entry-Level & Part-Time MLOs: $50K – $75K per year

💵 Experienced MLOs: $100K+ (commissions significantly increase income)

💵 Top Producer MLOs: $250K+ (commissions significantly increase income)

Most MLOs earn commissions on loans they close, making income potential unlimited.

Maintaining Your MLO License in Oakland, CA

To keep your California MLO license active, you must:

📌 Complete 8 hours of continuing education (CE) annually

📌 Renew your NMLS license each year (annual renewal fees apply)

Continuing Education is not required in the first year you get your license.

Why Become an MLO in Oakland?

✅ High demand – The Bay Area’s real estate market is booming

✅ Great earning potential – Commission-based income offers unlimited growth

✅ Flexibility – Work independently or with an established lender

✅ Help people achieve homeownership – Make a real difference in your community

If you enjoy sales, finance, and real estate, becoming an MLO in Oakland is a fantastic career choice!

Becoming a Mortgage Loan Originator in Oakland requires education, licensing, and dedication, but the rewards can be life-changing. Whether you join a brokerage or work for a financial institution, your ability to help people secure their dream homes can lead to a fulfilling and financially rewarding career.

Are you considering becoming an MLO in Oakland? Check out our MLO course catalog.