Michigan Mortgage License Requirements
Learn about the Michigan mortgage education requirements for mortgage licensing.
In the state of Michigan, mortgage loan originators are required to:
- Complete a Criminal Background Check (CBC).
- Fingerprints will be submitted through NMLS for FBI criminal background check.
- Criminal background check results will be available to the State.
- The criminal background check fee is $36.25.
- Authorize a credit report through the NMLS including the credit report fee is $15.
- Fulfill all state and federal education requirements as designated by your state agency.
- Take and pass a National Test.
- Surety Bond: Applicants must provide a surety bond. There are two surety bond options:
- Individual MLO Surety Bond – form FIS-2135
- Company MLO Surety Bond – form FIS-2137
Each bond form is located on agency website www.michigan.gov/difs and includes specific instructions for completion, including coverage amounts.
Michigan 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
- 10 hours of electives
- 2 hours of Michigan state-specific education
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.
Michigan 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.
Michigan Mortgage Licensing:
- Michigan Department of Insurance and Financial Services
- Phone: 877-999-6442
- Email: difs-fin-info@michigan.gov
- Website: www.michigan.gov/difs
NMLS Resources:
- Michigan MLO License Description Page
- Professional Standards: Mortgage Education
- Professional Standards: Criminal Background Check
- Professional Standards: Credit Report
- Professional Standards: MLO Testing
