How do I get a mortgage license?
Persons that are already licensed as Individuals do not need to submit any further information, fingerprints, or fees, but must be listed on the Entity Application as a Control Person. Control Persons that transact the business of residential mortgage lending in the State of Utah must, in addition to being listed as a Control Person, obtain mortgage broker licensing as an Individual if they haven’t already done so. For an Individual: 1) Individual Application forms for the switch to mortgage broker to mortgage banker (will be generated by the testing service after successful completion of mortgage lender exam), signed, with all blanks filled in and all applicable boxes checked; 2) original certificate of completion of 20hrs prelicense education from one of the state approved providers; 3) two fingerprint cards; 4) fingerprint letter of waiver (issued by testing service); 5) $200 Individual Application fee, $36 recovery fund fee and $39 fingerprint processing fee (do not need to be separate checks).
What is a “properly completed application?”
For an Entity: 1) Entity Application form with all blanks filled in and boxes appropriately checked, including signature and information for the control person; 2) Certificate of existence from the Utah Division of Corporations showing the Entity is current and in good standing and listing the Entity’s officers, or evidence of registration with such Division to do business in Utah; 3) two fingerprint cards for the Control Person and mortgage broker licensing – fingerprint cards must contain printed name, signature, date and place of birth, social security number, home address, citizenship, aliases, and personal description information; 4) fingerprint letter of waiver; 5) $200 Entity Application fee, $50 recovery fund fee, and $39 fingerprint processing fee for the Control Person (do not need to be separate checks).
If any of the items are missing, your application is incomplete and will not be processed. Your application will not be effective until the date that all completed required paperwork and all fees are submitted. And that's how you get a mortgage license. Get mortgage licenses - Mortgage Broker License Requirements and learn what it takes to become a mortgage broker in all 50 states including mortgage license requirements and websites to visit for more information. Mortgage Broker License and what is required to get mortgage licenses. Mortgage License Mall mortgage license, mortgage lender banker, home equity loans, home improvement loans, purchase money mortgages, and mortgage refinance. If the exam is taken at one of Promissor's test sites, fingerprints will be taken after the successful completion of the mortgage lender exam. Please see the October 2004 issue of the Mortgage Monitor for detailed information regarding the mortgage lender exam. If the test is taken outside of Utah, blank fingerprint cards are available through the Division of Real Estate. Most law enforcement agencies will take your fingerprints for a nominal fee. If your fingerprint cards are not properly done and are therefore unacceptable to the Bureau of Criminal Identification or the FBI, you will be required to re-submit acceptable fingerprint cards.
Mortgage Banking Solutions answers some basic questions about Mortgage Broker Licensing.
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