How to Become a Mortgage Broker in Texas
Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Texas mortgage broker bond needs. Learn how to become a mortgage broker in Texas, below. What Mortgage Broker Licenses Are Issued in Texas? The Texas Department of Savings and Mortgage Lending issues licenses for most mortgage-related professions, including mortgage brokers. Under Texas law, a mortgage broker is defined as “a person who receives an application from a prospective borrower for the purposes of making a mortgage loan from that person’s own funds or from the funds of another person.” Mortgage broker license applications are submitted and processed through the Nationwide Mortgage Licensing System, or NMLS. What Are the Steps in the Licensing Process? There are several eligibility and pre-licensing educational requirements for obtaining a mortgage broker license in Texas. These must all be met before applying for licensure as a mortgage broker. You may also have to gather certain documents that will need to be submitted in support of your license application. The licensing process involves the following steps: Applying for an NMLS...
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