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What do I need for an Oregon mortgage loan originator license?

In Oregon, unless an exemption applies, an individual may not engage in business as a mortgage loan originator in the state without first getting a license and a unique identifier. An applicant completes at least 20 hours of an approved prelicensing course. The applicant must also pass a qualified written test with a score of 75 percent correct or better.

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The rule, fact by fact

Course hours
At least 20 hours of an approved prelicensing courseThe law sets minimum hours on three topics, listed in the questions below.
Verified. www.oregonlegislature.gov (opens state website) · checked Nov 13, 2026
Cost
$110 for the SAFE MLO Test, as NMLS lists it. This is not the course priceWe haven't confirmed a course price from a source.
NMLS Resource Center · SAFE MLO Test overview (opens website) · checked Nov 13, 2026
Passing score
A passing score is 75 percent correct or betterThe statute sets this for a qualified written test.
Same source and date as above

How to get it done

  1. Step 1. Check whether you need the license. Unless an exemption applies, an individual may not engage in business as a mortgage loan originator in Oregon without first obtaining and maintaining a license and obtaining a unique identifier from the Nationwide Mortgage Licensing System and Registry.

  2. Step 2. Pick a course the Nationwide Mortgage Licensing System and Registry has approved, called the registry on this page. The statute has the registry approve the course contents, the provider, the instructional standards and how it is delivered. The director accepts an approved prelicensing course completed in another state.

  3. Step 3. Take at least 20 hours. The director may also set additional education by rule, including on implicit bias.

  4. Step 4. Pass a qualified written test. The registry develops it and approves its provider. An applicant may take it four consecutive times, 30 days apart, and must wait at least six months after failing four in a row.

Before you pay

Before you pay, check that the registry has approved both the course contents and its provider.

Questions

What must the 20 hours include?

At least three hours on federal laws and regulations, three on ethics with instruction on fraud, consumer protection and fair lending, and two on lending standards for nontraditional mortgages.

Who is exempt from the license?

The statute lists many exemptions. Among them is an individual who offers or negotiates a residential mortgage loan with or on behalf of a spouse, child, sibling, parent, grandparent, grandchild or a similar relative by law, marriage or adoption.

What does the test cover?

The statute says it must measure knowledge of ethics, and of federal and state laws, regulations and rules that apply to residential mortgage loan origination. NMLS lists 120 questions, with 115 scored. The five unscored pre-test questions have no effect on your pass or fail result.

What to do next

Start with the Oregon law on prelicensing education. Then pick a course the registry approves.

www.oregonlegislature.gov

Sources we read