What a Massachusetts mortgage loan officer license costs
The number a course provider advertises is one line of this bill. Before you originate a single loan in Massachusetts 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 Massachusetts Division of Banks 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 |
| Massachusetts Mortgage Loan Originator License application fee Paid to Massachusetts Division of Banks. | $500 |
| Massachusetts investigation fee Charged with the $500 licence fee, so Massachusetts takes $615 before any national fee, the highest state charge confirmed on this site. | $115 |
| Fees total | $811 |
Course tuition
Massachusetts 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
$900 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 Massachusetts Division of Banks charges to renew, and the cost of your continuing education hours.