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State Licensing Requirements
Utah DRE
Electronic filings through NMLS may be delayed if all required items on the appropriate checklist below are not submitted to the regulator.
Check state agency website for further information: Utah Division of Real Estate |
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Common Requirements
The following requirements are handled through a common process for all jurisdictions:
Renewals - Annual license renewal for 2010
Financial Statements - Submitting financial statements through NMLS
Professional Requirements - Testing, education and background check requirements for individual Mortgage Loan Originators
Policy - Common policies, including the Policy Guidebook for Licensees |
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| Company Licenses
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Description
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Requirements Checklist
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| Mortgage Entity License |
Any entity (corporation, a limited liability company, a partnership, a company, an association, a joint venture, a business trust, trust, or another organization) or person that engages in the business of residential mortgage loans for compensation or gain, or in the expectation of compensation or gain, including originating a residential mortgage loan, directly or indirectly soliciting, placing or negotiating a residential mortgage loan for another, or rendering services related to the origination of a residential mortgage loan, including taking an application and communicating with the borrower and lender. (More Details) |
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| Branch Licenses
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Description
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Requirements Checklist
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| Mortgage Branch Office License |
Any additional physical location of the entity, other than the “home/main” location licensed under Form MU1, regardless whether inside or outside of Utah, engaged in mortgage lending or mortgage brokering activities that advertises, offers, or provides services to Utah residents through any medium including, but not limited to internet or other electronic means. (More Details) |
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| Individual Licenses
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Description
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Requirements Checklist
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| Mortgage Loan Originator License |
Any individual who, in exchange for compensation as an employee of another person (partnership, limited liability company, limited partnership, corporation, association, or other group engaged in joint business activities, however organized), accepts or offers to accept applications for mortgage loans. (More Details) |
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| Associate Lending Manager License |
Any natural person that engages in the business of residential mortgage loans for compensation or gain, or in the expectation of compensation or gain, including originating a residential mortgage loan, directly or indirectly soliciting, placing or negotiating a residential mortgage loan for another, or rendering services related to the origination of a residential mortgage loan, including taking an application and communicating with the borrower and lender. This license is for a lending officer who has had at least three years full-time active experience as a mortgage office within the last five years. (More Details) |
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| Principal Lending Manager License |
Any natural person that engages in the business of residential mortgage loans for compensation or gain, or in the expectation of compensation or gain, including originating a residential mortgage loan, directly or indirectly soliciting, placing, or negotiating a residential mortgage loan for another, or rendering services related to the origination of a residential mortgage loan, including taking an application and communicating with the borrower and lender. This license is for a lending officer who has had at least three years of full-time active experience as a mortgage officer within the last five years. (More Details) |
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| Branch Lender Manager License |
Any natural person that engages in the business of residential mortgage loans for compensation or gain, or in the expectation of compensation or gain, including originating a residential mortgage loan, directly or indirectly soliciting, placing or negotiating a residential mortgage loan for another, or rendering services related to the origination of a residential mortgage loan, including taking an application and communicating with the borrower and lender. This license is for a lending officer who has had at least three years full-time active experience as a mortgage office within the last five years. |
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