Vermont Mortgage License Requirements
Application Requirements to become licensed in Vermont:
| Description | Requirement |
|---|---|
| Temporary Authority to Operate Eligible | Yes |
| Application Fee | $50.00 |
| License Registration Fee | $50.00 |
| NMLS Processing Fee | $35.00 |
| Sponsorship Fee* | $50.00 |
| 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 | No |
*Note: A sponsorship request must be submitted by your employer before your application request is approved. Note: that your sponsoring employer must be licensed in Vermont.
Vermont 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
10 hours of electives
2 hours of Vermont state-specific education
Note: PE must be completed during the 3 years immediately preceding the date of application.
Vermont 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
The deadline to complete annual CE is December 1st.
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.
Vermont Department of Financial Regulation Contact Info:
Phone: 802-828-3307
Email: dfr.licensing@vermont.gov
Website: www.dfr.vermont.gov
