NMLS MLO vs Series 6

Yes, and many bank employees hold both. Banks appreciate employees who can serve customers across product lines. You might help a customer with their mortgage and then discuss investing their savings in mutual funds. However, you must be careful about compliance - mortgage activities are regulated by NMLS and state banking departments, while investment activities are regulated by FINRA. Banks have strict separation of duties and disclosure requirements.

NMLS MLO is slightly harder overall. The MLO exam has a 58% first-time pass rate and covers extensive federal regulations (TILA, RESPA, ECOA, FCRA, HMDA). Series 6 alone has about a 60-70% pass rate, but you must also pass the SIE exam first. The total investment for Series 6 path (SIE + Series 6 + Series 63 for state registration) is greater than MLO alone. MLO can be obtained independently; Series 6 requires employer sponsorship.

Top MLOs typically earn more. Successful MLOs can earn $100,000-$200,000+ in strong markets, with commission around 1% of loan amounts ($3,000-$5,000 per typical loan). Series 6 representatives at banks earn $40,000-$70,000 typically, with modest commissions on mutual fund and annuity sales. However, Series 6 income is more stable (not tied to housing market), and some Series 6 reps at large banks or insurance companies do earn six figures with large client bases.

It depends on your career goals. Adding Series 6 lets you offer clients investment products alongside mortgages - useful for customer retention and additional income. However, it requires affiliating with a broker-dealer and following FINRA compliance rules. Many MLOs prefer to refer investment business to partners rather than manage dual compliance. If you're at a bank that encourages cross-selling, Series 6 makes sense. Independent mortgage brokers often skip it.