Alaska Mortgage License Requirements
Application Requirements to become licensed in Alaska:
| Description | Requirement |
|---|---|
| Temporary Authority to Operate Eligible | Yes |
| Application Fee | $250.00 |
| License Registration Fee | $350.00 |
| NMLS Processing Fee | $35.00 |
| Sponsorship Fee* | $0.00 |
| Credit Report Required | $15.00 (600 or higher) |
| Criminal Background Check Required | $36.25 |
| Testing Required | Yes, passing score of 75% or higher |
| SAFE MLO Test Cost | $110.00 |
| Work Remote Allowed | Yes |
*Note: An applicant’s employer, a Mortgage Broker/Lender licensed in Alaska, must submit a sponsorship request before your application is approved.
Alaska NMLS Pre-Licensing Education Requirements:
New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:
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3 hours of federal law
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3 hours of ethics
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2 hours of non-traditional mortgage lending training
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12 hours of electives
Alaska has implemented PE Expiration Policy where PE education generally expires after 3 years of not holding a license/registration in any jurisdiction.
The 20-Hour SAFE program is exempt from authorization under Alaska Commission on Postsecondary Education regulation AS 14.48 and 20 AAC 17 because the program is online or distance delivered and does not have a physical presence in the state.
Alaska Continuing Education Requirements:
State-licensed MLOs are required to complete 8 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:
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3 hours of federal law
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2 hours of ethics
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2 hours of non-traditional mortgage lending
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1 hour of electives
MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.
The 8-hour SAFE program is exempt from authorization under Alaska Commission on Postsecondary Education regulation AS 14.48 and 20 AAC 17 because the program is online or distance delivered and does not have a physical presence in the state.
Alaska Division of Banking and Securities Contact Info:
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Phone: 907-465-2521
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Email: dbs.licensing@alaska.gov
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Website: https://www.commerce.alaska.gov/web/
