What a Hawaii mortgage loan officer license costs
The number a course provider advertises is one line of this bill. Before you originate a single loan in Hawaii you also owe the Nationwide Multistate Licensing System, usually written NMLS, for processing your application, a background check, a credit report and the Secure and Fair Enforcement (SAFE) Act test for mortgage loan originators, and you owe Hawaii Division of Financial Institutions for the license itself. Those fees are owed whichever course you pick, so comparing tuition alone understates what getting licensed costs. Everything below is a one-time cost per person unless it says otherwise.
Fees you pay whichever course you choose
| NMLS initial set-up fee Charged when you first file the individual MU4 form. | $35 |
| SAFE MLO test fee One national test. Every state has adopted it, so there is no second state exam to pay for. | $110 |
| Criminal background check Add a $10 card packet fee if you submit fingerprints on a print card rather than by Livescan. | $36 |
| Credit report Charged at new application unless NMLS already holds a report less than 30 days old. | $15 |
| Hawaii Mortgage Loan Originator License application fee Paid to Hawaii Division of Financial Institutions. | $600 |
| Mortgage Loan Recovery Fund fee Due on initial licensure and again at $100 a year on renewal. Hawaii has no surety bond requirement for originators; this fund stands in place of one, so the payment is not optional. | $200 |
| Fees total | $996 |
Course tuition
Hawaii courses in our comparison run from $89 to $649. That has to cover all 20 required hours , and where a package includes the state-specific hours the comparison table says so.
Cheapest realistic total
$1,085 using the cheapest listed course
What it costs every year after that
The license is renewed annually. Budget $35 for the NMLS annual processing fee, whatever Hawaii Division of Financial Institutions charges to renew, and the cost of your continuing education hours.