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Getting Started FAQs

 
  1. What does a Mortgage Loan Officer do?
  2. What are the requirements to be a licensed Loan Officer in the State of Ohio?
  3. Why should I take the Hondros College Loan Officer Training Program?
  4. Where and when is the state exam given?
  5. How many questions are on the state exam?
  6. Is there a continuing education requirement?

  1. What does a Mortgage Loan Officer do?
    Loan officers facilitate this lending by seeking potential clients and assisting them in applying for loans. Loan officers also gather information about clients to ensure that an informed decision is made regarding the quality of the loan and the probability of repayment. Mortgage loan officers develop relationships with commercial and residential real estate agencies, so that when an individual or firm buys a property, the real estate agent might recommend contacting a specific loan officer for financing. Loan officers guide clients through the process of applying for a loan.

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  2. What are the requirements to be a licensed Loan Officer in the State of Ohio?
    An applicant must complete 24 hours of pre-licensing education, submit the Loan Officer application to the Division of Financial Institutions along with a $100 application fee and complete a civilian background check. The applicant must also successfully complete the state exam.

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  3. Why should I take the Hondros College Loan Officer Training Program?
    This program provides a comprehensive look at the information needed to not only help you pass the state exam the first time but prepare you for success in the industry. Our Loan Officer Training Program also includes a civilian background check, which can be completed the same day you attend class. This will ensure you complete the licensing process as quickly as possible.

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  4. Where and when is the state exam given?
    Testing Dates and Locations

    You may test at any PSI center across the United States. A complete list of testing centers is available by calling 800-733-9267 or by visiting PSI 's Web site at http://candidate.psiexams.com/index.jsp  .

    Scheduling your Exam

    After receiving your Examination Eligibility from PSI, you may register for and schedule your exam by calling PSI at 800-733-9267 between 8 a.m. and 9 p.m. Monday - Friday. Or, you may register for and schedule your exam online by going to http://candidate.psiexams.com/index.jsp  and selecting "For Test Takers."

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  5. How many questions are on the state exam?
    There are 75 questions on the Loan Officer state exam, and 100 questions on the Operations Manager state exam.

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  6. Is there a continuing education requirement?
    Every Loan Officer and Operations Manager must complete 6 hours of continuing education annually by the end of each calendar year. You can complete the hours in the classroom or online.

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