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Step by Step

For Mortgage Loan Originator Licensure

There are 12 steps, but most are very simple. As always, contact us with any questions.

Click on the More Detail button below the step for full instructions and help guides.

Step 1 - Get your NMLS #

Get your NMLS # and create an individual account. When you receive your NMLS number, please email Dan and let us know so we can update your record.

Step 2 - Mortgage Education

There are a number of schooling options and different formats to fit your schedule and style. Make sure the program you choose includes the required 2 hours of Colorado specific education.

Step 3 - Test Enrollment

Create and pay for a test enrollment window. You must first create and pay for a test enrollment before you can schedule a test appointment.

Step 4 - Schedule Your Test

Once you have created a test enrollment, you are now ready to schedule your test appointment. 

Step 5 - Take Your Test

Arrive at the test center 30 minutes before your appointment with a current government-issued ID that contains a photo and signature. You know the drill. Good luck!Test results will be uploaded into NMLS within three business days (usually quicker).

Step 6 - Submit NMLS Form (MU4)

The "MU4" is the NMLS language for an individual submitting a form to apply for a mortgage license, update your record, etc. This is how you will actually apply for your license through NMLS. Make sure in the disclosure section that you request a Federal Criminal Background Check and request a Credit Report.

Step 7 - NMLS Fingerprints

The NMLS federal background check requires fingerprints separate from those you'll submit for Colorado. It would be nice if they all had their act together but that's the way it is. You'll make an appointment for these fingerprints and they will automatically upload to NMLS to complete your federal background report.

Step 8 - Colorado Fingerprinting 

In addition to the NMLS fingerprint submission above you must also submit a set of fingerprints to the Colorado Bureau of Investigation (CBI) for the purpose of conducting a Colorado and national fingerprint-based criminal history background check. Click on the "More Detail" button to arrange:

Step 9 - Company Sponsorship with
BW Mortgage 

Now it's time to connect your NMLS account with ours which allows us to sponsor you for your license activation. You will need BW Mortgage's NMLS# which is: 1841670

Step 10 - Get Your Surety Bond

There are a number of bond providers. We recommend and use The Bond Exchange. Their costs are lower than most and they have great service. For a link to their Colorado Mortgage Originator Individual Bond application, click the More Detail button and follow the instructions.

Step 11 - Get Your Mortgage E&O Insurance

As for real estate E&O, there are a number of different providers. RISC is the Colorado group policy provider. However, CRES offers higher coverage at less than half the premium cost.

Make sure whatever provider you choose has at least this coverage:

​

  • Minimum Coverage = $100,000

  • Minimum Annual Aggregate Limit = $300,000

  • Deductible No Greater Than = $1,000

Step 12 - Colorado MLO Application 

Now it's time to apply for your license through the Colorado E-license database here. This is the same system you manage your real estate license through. The Colorado application will become available in your E-license account 24 hours after filing your MU4 form in NMLS. Applications can take up to ten (10) business days from the time of receipt for the Division to process (usually only a few days).

Congratulations! & Onward 

When your license is active and complete you're ready to start our simple onboarding process.

Contact Dan at (970) 231-3714 or email him and let him know you are licensed and ready to proceed.

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