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Loan
Originator Licensing
Go to Financials Strategies at http://www.financialstrategies.com/affiliate/8c812f/
and order the Online - Essentials of Utah 20hr Mortgage
Education course
Then go to Promissors at www.promissor.com
to schedule your Loan Agent Exam. Please see the October
2004 issue of the Mortgage Monitor at http://realestate.utah.gov/newsletters/mortgage/MM1004.pdf
for detailed information regarding the mortgage lender exam.
Individual Application forms will
be generated by the testing service after successful completion
of the mortgage lender exam. You will need to submit this
to Direct Lender’s Compliance Department with the
following items:
- Original certificate of completion
of 20 hours of pre-license education
- Two fingerprint cards or Fingerprint
letter of waiver (issued by testing service)*
- $200 Individual Application fee
- $36 recovery fund fee
- $39 fingerprint processing fee
(do not need to be separate checks).
*If the exam is taken at one of Promissor's
Utah test sites, fingerprints will be taken after the successful
completion of 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.
Loan Originator Licensing – Mortgage
Officer Reciprocity
If you meet the requirements below you may
be exempt from the education and exam requirements
To become a licensed Mortgage Officer through reciprocity
an individual must:
- Meet the statutory licensing qualifications
of good moral character, competency, honesty, integrity,
and truthfulness. (Utah Code Annotated 61-2c-203)
- Hold an active mortgage license in good
standing from another state.
- Have at least five years experience actively
originating loans or directly supervising the origination
process.
Note: experience must be as a licensee in a jurisdiction
that requires pre-licensing education and exam. Experience
in states that do not require pre-license education and
exam will not count.
Send us the following documentation and
we will process your license application:
- Completed, signed and notarized Mortgage
Officer Reciprocity Application. http://realestate.utah.gov/forms/mo_reciprocity_app.pdf
- Original and certified license history
(no more than six months old) from the jurisdiction where
you are actively licensed.
- Original and certified license histories
(no more than six months old) from all other jurisdictions
where you have previously held a mortgage license.
- Two fingerprint cards and a signed Fingerprint
Waiver (cards may be obtained from the Division or a local
police station).
- $275 non-refundable fee ($200 application
fee, $36 recovery fund fee and $39 fingerprint processing
fee).
Branch Licensing
Send a check request to Direct Lender’s
Compliance Department for $25.00. We will complete the application
process.
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