Virginia Mortgage License Requirements
Application Requirements to become licensed in Virginia:
| Description | Requirement |
|---|---|
| Temporary Authority to Operate Eligible | Yes |
| Application Fee | $150.00 |
| License Registration Fee | $0.00 |
| 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: If you are employed by a Virginia licensed mortgage lender or broker, a sponsorship request must be submitted by your employer. Virginia will review and accept or reject the sponsorship request.
Virginia 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
An individual who (1) fails to acquire a valid license or federal registration within 3 years from the date of initial completion of any approved PE course; or (2) has obtained a license or federal registration but subsequently did not maintain an active license or federal registration for at least 3 years, must complete 20 hours of PE in order to be eligible for state licensure.
Virginia 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.
Virginia Bureau of Financial Institutions Contact Info:
Phone: (804) 371-9657
Website: www.scc.virginia.gov/bfi
