Mortgage Certification and Certificate Program Information

Oct 20, 2021

Essential Information

All states require basic training in mortgage fundamentals to become a mortgage banker. Classes in mortgage certification prepare certificate holders to take examinations through associations like the Mortgage Bankers Association to become licensed through their state as professional mortgage loan officers. Mortgage loan officers also known as mortgage bankers, work in the real estate and banking industries. They are good with people and numbers, and they assist borrowers in the purchase of homes and other properties through their knowledge of financing and real estate investment planning.

To enroll in a certificate program, applicants must have a high school diploma or the GED equivalent or a bachelor's degree in finance, economics or related area. An extensive employment history in banking inventory may also be accepted as a prerequisite. Program specializations include short sales and auctions, among others.

Mortgage Certification Program

Coursework and program length vary by the offering institution, and the programs are often tailored to requirements of the state in which the program is offered. Some programs even offer electives for those who wish to gain credentials in a specific area of the business. Topics covered include loan types in addition to the following:

  • Appraisals
  • Credit reports
  • Lending practices
  • Mortgage ethics
  • Mortgage calculations
  • Qualified buyers

Employment Outlook and Salary Information

The outlook for mortgage bankers is best for those with a college education and experience in the industry, reports the United States Bureau of Labor Statistics, (BLS) The BLS expects a 3% job increase for loan officers in its projections data for 2019-2029. The BLS also reported that loan officers earned a median annual income of $63,960 as of May 2020.

Professional Certification and Continuing Education Information

It is necessary to take continuing education courses in mortgage lending to maintain up-to-date licensure. Those with experience in the field can also pursue voluntary professional certification from the Mortgage Bankers Association. The association offers various levels of certification that depend on the number of years of experience the pursuer has.

Mortgage certificate programs provide students with the necessary skills and knowledge to guide clients through the legal and financial details of obtaining loans and conveying properties as security for debts. Upon receiving their certificate, mortgage officers may gain professional certification and take additional schooling to improve their credentials.

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