Alaska Mortgage License Requirements
Learn about the Alaska mortgage education requirements for mortgage licensing.
In the state of Alaska, mortgage loan originators are required to:
- Complete a Criminal Background Check (CBC).
- Authorize a credit report through the NMLS that demonstrates financial responsibility.
- Fulfill all state and federal education requirements as designated by your state agency.
- Take and pass a National Test.
- Sponsorship: Mortgage Loan Originators may not be sponsored by, or perform mortgage origination activities for, more than one Alaska Mortgage Broker/Lender licensee simultaneously.
- Regulatory History: Applicant may not have had a mortgage loan originator license, or other mortgage related license, revoked in any governmental jurisdiction.
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Alaska NMLS Pre-Licensing Education Requirements:
New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:
- 3 hours of federal law
- 3 hours of ethics
- 2 hours of non-traditional mortgage lending training
- 12 hours of electives
This program is exempt from authorization under 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:
- 3 hours of federal law
- 2 hours of ethics
- 2 hours of non-traditional mortgage lending
- 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.
This program is exempt from authorization under 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 Mortgage Licensing:
- Alaska Division of Banking and Securities
- Phone: 907-465-6339
- Email: mortgagelending@alaska.gov
- Website: https://www.commerce.alaska.gov/web/
NMLS Resources:
- Alaska MLO License Description Page
- Professional Standards: Mortgage Education
- Professional Standards: Criminal Background Check
- Professional Standards: Credit Report
- Professional Standards: MLO Testing