Colorado Mortgage License Requirements
Learn about the Colorado mortgage education requirements for mortgage licensing.
In the state of Colorado, mortgage loan originators are required to:
- Authorize a credit report through the NMLS.
- Fulfill all state and federal education requirements as designated by your state agency.
- Take and pass the National Component.
- Two sets of fingerprints for a criminal history background check must be submitted as close to the license application date as possible, and no earlier than 30 days prior to application submission.
- Acquisition of a Surety Bond as required by section 12-61-907, C.R.S., and in accordance with any rule of the Director that directly or indirectly addresses Surety Bond requirements.
- Acquisition of the Errors and Omissions insurance required by section 12-61-903.5, C.R.S., and in accordance with any rule of the Director that directly or indirectly addresses Errors and Omissions insurance requirements: an official quote showing a proposed policy number and proposed beginning and ending dates with the applicants name will suffice for the application process provided the applicant, upon issuance of the official State of Colorado license, revisits their Colorado online RMS account and replaces the quote with the actual data. Failure to do so will result in an inactive license.
- Complete the online filing and payment for your State of Colorado license.
Colorado NMLS Pre-Licensing Education Requirements:
New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. *Note: PE must be completed within 3 years of a new or subsequent license application. This includes:
- 3 hours of federal law
- 3 hours of ethics
- 2 hours of non-traditional mortgage lending training
- 2 hours of Colorado state-specific education
- 10 hours of electives
Colorado 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.
Colorado Mortgage Licensing:
- Colorado Division of Real Estate
- Phone: 303-894-2166
- Email: dora_realestate_website@state.co.us
- Website: http://cdn.colorado.gov/
Note: Individuals who fail to maintain an active, valid license for at least 3 years must satisfactorily complete the twenty (20) hours of pre-licensing education within the three (3) year period immediately preceding the date of application for licensure.
NMLS Resources:
- Colorado MLO License Description Page
- Professional Standards: Mortgage Education
- Professional Standards: Criminal Background Check
- Professional Standards: Credit Report
- Professional Standards: MLO Testing