My Mortgage Trainer Mortgage Education
Questions? Call us! (317) 566-0425


Login | Contact


 

Alabama State Licensing Requirements

Contact

State Banking Department 
P.O. Box 4600 Montgomery, AL 
36103-4600 
(334) 242-3452 
Visit Their Website 

Education Requirements

High School Diploma or GED

20 Hours PE 

8 Hours CE

Highlights

Brick and Mortar State: No

Expiration: Dec. 31 annually

License Fee: $105, including the NMLS processing fee. 

Lender/Broker net worth: $25,000

 

Who is required to be licensed

Any individual who for compensation or gain or in the expectation of compensation or gain takes a residential mortgage loan application, or offers or negotiates terms of a residential mortgage loan. This will include any independent contract loan processors or underwriters.

Pre-Requisites for license applications

  • Must be covered by a surety bond in favor of the State of Alabama through the company or individually obtain a surety bond
  • Cannot have been convicted of any felony in the last 7 years
  • Can never have been convicted of a felony involving an act of fraud, dishonesty, breach of trust or money laundering
  • Credit checks reviewed by the department
  • 20 hours of Pre-Licensing education
  • 8 hours of continuing education prior to renewal
  • Must pass the National Test with Uniform State Content with a grade of 75% or higher 

For Questions Regarding Licensure

Contact the State Banking Department mortgage licensing staff by phone at 334- 242-3452 or send your questions via e-mail to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it for additional assistance.

Need to purchase Pre-Licensing or Continuing Education Courses?

Use the links below for course schedules and information about NMLS Approved Pre-licensing Education (PE) or Continuing Education (CE).

Alabama NMLS Approved Pre-licensing Education Courses

Alabama NMLS Approved Continuing Education Courses

NMLS Requirements and Fees


Processing Fees for State Licensure

Entity Initial Fee Annual Fee
Company $700 (including NMLS processing fee) $600 (Includes renewal fee and company NMLS processing fee)
Branch $620 (plus NMLS processing fee) $500 (A $20 NMLS processing fee will be added for each branch)
Individual $105 (including the NMLS processing fee) $130 (Includes renewal fee, reinstatement fee, and NMLS processing fee)


Professional Standards Fees

Item Fee
Criminal Background Check Livescan $36.25
or
Print Card Capture $36.25, plus $10 Card Packet Fee = $46.25

This Criminal Background Check fee is assessed each time a new request is submitted unless a previously submitted Criminal Background Check authorization is in a "Pending" status.

Click here for more information about the Criminal Background Check process.
Testing $110 National Test

Test length is 190 Minutes.  125 questions are asked, only 115 are scored. The test must be scheduled through Prometric.

Click here for more information about the NMLS Testing process
Credit Report $15

This fee will be charged at each new application for licensing if it does not contain a credit report that is less than 30 days old. Single charge regardless of how many licenses are applied for in a single filing.

Click here for more information about the NMLS Credit Check process

Notice: The information provided on this page is not legal advice and is shared for educational purposes only. The information provided is not a complete statement of all licensing requirements, additional licensing requirements may be required by state and/or other agencies.

Other's who searched for this page also found these pages useful:

My Mortgage Trainer Home Page
My Mortgage Trainer Course Catalog
SAFE 20 Hour Pre-licensing Courses and Study Material
SAFE 7 & 8 Hour Continuing Education Courses
My Mortgage Trainer Current Webinar Schedule

My Mortgage Trainer is approved by the NMLS to deliver National Pre-licensing and Continuing Education in all 50 states. NMLS Approved Course Provider #1400080.

 

Last Updated ( Monday, 04 March 2019 )
 
©2019 My Mortgage Trainer, Inc . 8420 Masters Rd., Indianapolis, IN 46250 . phone 317-566-0425 . fax 866-399-4029. NMLS Approved Course Provider #1400080