How to get mortgage broker license in MT if you need 3 yrs exp.

[Ralph E.]

Hi all. I was looking in Montana State licensing requirements for becoming a Mortgage Loan Originator, or a Mortgage Broker. I am confused on how it is possible to get licensed, when it says you must have 3 years of experience in that industry.

How can you have 3 years of experience before getting the license?

[Chris Mason]

Originally posted by @Ralph E.:

Hi all. I was looking in Montana State licensing requirements for becoming a Mortgage Loan Originator, or a Mortgage Broker. I am confused on how it is possible to get licensed, when it says you must have 3 years of experience in that industry.

How can you have 3 years of experience before getting the license?

 I don't know Montana, but in general it isn't unusual to get into the mortgage industry as an assistant, a processor, an opener, a TC, etc, all positions that in general do not need licenses because in general these positions don't involve talking loan rates/terms with consumers. 

It may be that the MLOs in Montana have lobbied for this 3 year wait to stifle competition ahem "encourage professionalism and competence."