Iowa MLO License
Mortgage Loan Originator requirements for Iowa
NMLS Required: All Iowa MLO applications must be submitted through the Nationwide Multistate Licensing System (NMLS).
Pre-Licensing Education
Complete 20 hours of NMLS-approved pre-licensing education (federal SAFE Act minimum).
Required Courses (20 hours total):
- • 3 hours federal law and regulations
- • 3 hours ethics (fraud, consumer protection, fair lending)
- • 2 hours nontraditional mortgage products
- • 12 hours electives
Education expires after 3 years if you do not obtain your license.
SAFE MLO Exam
National Component
115 scored questions + 5 unscored (3 hours 10 minutes)
State Component
National component only - no state-specific test required
Passing Score
75% on national component
Exam Fee
$110
Retake Policy: 30-day wait after failure
Background & Credit Check
Criminal Background
FBI criminal background check via fingerprinting
Credit Report
Required
Background Check Cost
$36
Credit Report Cost
$15
Credit report pulled by NMLS. Must demonstrate financial responsibility.
Company Sponsorship
Must be employed by a licensed mortgage banker or broker
License remains in pending status until employer sponsorship is verified through NMLS.
Fee Breakdown
| NMLS Processing Fee | $30 |
| State License Fee | $50 |
| Examination Fee | $110 |
| Background Check | $36 |
| Credit Report | $15 |
| Total Fees | $241 |
Does not include pre-licensing education costs ($200-$400). Sponsoring company may cover some fees.
Annual Renewal
Renewal Period
November 1 - December 1 annually
Renewal Fee
$50
CE Required
8 hours annually
Online Renewal
Yes (via NMLS)
8 hours annually: 3 hrs federal law, 2 hrs ethics, 2 hrs nontraditional lending, 1 hr elective. Must be NMLS-approved. CE deadline is December 1st.