Utah - DFI Mortgage License Requirements
Application Requirements to become licensed in Utah - DFI:
| Description | Requirement |
|---|---|
| Temporary Authority to Operate Eligible | Yes |
| Application Fee | $0.00 |
| License Registration Fee | $200.00 |
| NMLS Processing Fee | $35.00 |
| Sponsorship Fee* | $0.00 |
| Credit Report Required | $15.00 |
| 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: Sponsorship is not required.
Do not apply for this license if you already have an MLO license from the Utah Department of Commerce Division of Real Estate (DRE). The DFI waives its license requirement for such MLOs, and they do not need to apply for a waiver.
An individual must be covered by a surety bond that meets minimum surety bonding requirements based on origination volume.
Utah (DFI) 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
Utah (DFI) 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.
Utah Department of Financial Institutions Contact Info:
Phone: 801-538-8830
Email: dfi@utah.gov
Website: https://dfi.utah.gov/
