Loan Officers can be sponsored by Loan Factory in 48 states (except Connecticut and New York)
Licensed in multiple states and sponsored by different mortgage companies
Did you know?
Loan Officers (even brokers) can be licensed in multiple states and be sponsored by different mortgage companies.
1. General Rule
In each state, a Loan Officer can be sponsored by only one mortgage company.
2. Exceptions
In CO, DE, IN-DFI, ME, MN, SD, TX and WA, a Loan Officer can have multiple sponsors.
3. Special States
In GA, MT, OH, OR, NC and PA, a Loan Officer can be sponsored by Loan Factory, but cannot be sponsored in any other state by a mortgage company that holds a license in these states. In AR, KY, NE and SC, a Loan Officer cannot be sponsored in any other state by any other mortgage company. In MS, Loan Officers paid as 1099 contractors must sign an Exclusive Agent Agreement with Loan Factory. In VA, Loan Officers are required to work exclusively with Loan Factory in every state where Loan Factory holds a license, and 1099 officers must sign an Exclusive Agent Agreement. In ID, NJ, OR and RI, a Loan Officer's website URL must include the company name, the Loan Officer's name, or a registered DBA.
Adding new state licenses
If you are currently licensed and want to obtain a license in more states, you do not need to pass the exam again.
Pick an interested state
Select the state in which you want to obtain a license. You will see the required state-specific education hours and any additional requirements needed for licensure. Proactively completing all state-specific requirements in advance helps streamline your application and reduce the chance of delay or rejection. States with no state-specific pre-licensing education requirements: Alabama, Alaska, Arkansas, California-DRE, Delaware, Georgia, Illinois, Indiana-DFI, Iowa, Kansas, Kentucky, Louisiana, Maine, Minnesota, Missouri, North Dakota, South Dakota, Virginia, Wisconsin, Wyoming.
Register and complete the state-specific course
Complete the state-specific course at mortgage-education.com and select the state. Each hour costs $19 — a 3-hour course costs $57. You can skip this step if no additional state-specific hours are required.
Apply for the state license on NMLS
Log in to NMLS and complete the individual form (MU4), pay any associated fees, and submit your application. Review the Agency Guidance section and run a Completeness Check before you attest and submit, then track your status under My Licenses.
Request sponsorship
Once your application is submitted, our licensing team requests NMLS sponsorship from Loan Factory on your behalf.
States with special document requirements
How long would it take for Loan Factory to sponsor my license(s)?
Average calendar days from a complete application to sponsorship, by state.
Temporary Authority Checklist
- Have you been continuously state-licensed for 30 days, or continuously registered for 1 year prior?
- Have you maintained continuous registration/licensure without a break of more than 14 calendar days prior to the sponsorship request?
- Do you have current W-2 employee status with a state-licensed company in the application state showing in your NMLS record?
If you are currently a W-2 Loan Officer in good standing (with Loan Factory or another broker/lender), you can apply for a license in another state. As long as you complete the license application with the NMLS, you may become eligible for Temporary Authority while the application is under review — you do not have to wait for the state to approve your license, which normally takes 30-45 business days.
Important: once your Temporary Authority status is reflected on NMLS Consumer Access, the licensing team will send you a confirmation before you may begin conducting business activities.
Supervisory distance requirements
A few states require a supervisory distance between the loan officer's residence and our sponsoring office location:
- South Carolina 75 miles
- Wisconsin 100 miles
- Wyoming 100 miles
- Nebraska Within a 2-hour commute, one way
- New Jersey Within 2.5 hours of the assigned location
Compensation types
A Loan Officer must be classified as either W-2 or 1099 (cannot be both). In 11 states, the Loan Officer must be classified as W-2: CA-DFPI, GA, IN-DFI, MA, MT, NV, NJ, NC, SC, RI, and VT.
1099 Compensation
A Loan Officer receives 100% of the commission from every deal they close. Loan Factory charges a flat fee of $595 per deal, plus a processing fee of $500.
W-2 Compensation
A Loan Officer receives 90% of the commission from every deal they close, after a flat fee of $595 and a processing fee of $500. Loan Officers must also pay any payroll taxes themselves.
Ready to add a state?
Our licensing team will walk you through exactly what your target state requires.