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Utah Mortgage License

Utah mortgage license is regulated by the Utah Division of Real Estate. According to jurisdiction of the licensing division, home loan bankers and brokers are required to have their license in order to operate inside the state. There are seperate UT mortgage licensing process for individual and company license. Moreover, all the licensed companies further require a licensed Principle Lending Manager who controls and pays all the loan officers. It is very important for the applicants to have a clear understanding of all the mortgage licensing requirements prevalent in the state before making their application.

Utah Mortgage Broker License

As per the requirements set by the Division of Real Estate, applicants for mortgage broker license are not required to own any physical office. Unlike other state, the brokers are also not required to maintain any minimum net worth or surety bond amount in order to get their mortgage license in Utah. However, the state has licensing requirements for branch office and loan officers working under the mother company. Moreover, it is essential for the home loan brokers to have a minimum experience of 3 years and complete 40 hours of education from a certified pre-licensing school. Moreover, Utah Division of Real Estate provides license look up tools and resources for working mortgage brokers in the State.

UT Mortgage Banker Licensing Requirements

Similarly with mortgage brokers, there is no physical office, surety bond and net worth requirements for the mortgage bankers to get their state license. The applicants must however pass the state Principle Lending Manager exam and submit their fingerprint cards. Moreover, they are required to pay the licensing fees to get approval. Moreover, in order to become a licensed mortgage officer or an associate lending manager, a local candidate needs to pass the national as well as Utah portion of NMLS test. For candidates licensed outside the state, only the Utah portion of NMLS test is required to be cleared.

Utah Mortgage Licensing Fees

The Utah Division of Real Estate charges $250 for a company licensing fee, $275 as Principle Lending Managers licensing fee and $275 for the loan officer license. The applicants should submit all the essential papers together with the accrued fees to the Division of Real Estate.

They could also consult some mortgage licensing companies if they want to get some guidance or to hasten their licensing process. These companies provide education and training courses for the mortgage bankers and brokers looking for their license in the state.
Utah Division of Real Estate
Utah Division of Real Estate handles the mortgage licensing process of home loan bankers and brokers in the state of Utah. Visit the official website of the division to get the latest details on the licensing requirements.
Mortgage News Daily
Mortgage News Daily provide reliable information on mortgage licensing process of several US states. They also offer the licensing details of mortgage brokers in the state of Utah.
Integrity Mortgage Licensing
Integrity Mortgage Licensing is one of the leading mortgage licensing companies operating in several states of the US. The company further provide valuable info on the mortgage broker licensing requirements prevalent in the state.

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