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 State Licensing Requirements

 
Company Licenses Description Requirements Checklist
Mortgage Broker / Lender License This License is required of any mortgage broker, who is a company or sole proprietorship, who for compensation or gain, or in the expectation of compensation or gain, directly or indirectly arranges with a variety of lending sources to provide financing for mortgage loans or assists or offers to assist a borrower or potential borrower to obtain financing for mortgage loans on Alaska residential property. This License is required of any mortgage lender who is a company or sole proprietor, who consummates and funds a mortgage loan and who is named as the payee in the promissory note and as the beneficiary of the deed of trust on Alaska residential properties.
Registered Depository Institution Registration Registered Depository Institution: No person is required to have this license. Any depository institution that meets the exemption under AS 06.60.015(a) may elect to register with the department and may sponsor a mortgage loan originator licensed under the chapter. Registration does not affect the exemption of the depository institution. See Alaska Statutes (AS) under Chapter 06.60 Alaska Secure and Fair Enforcement for Mortgage Licensing Act of 2010 and regulations (3 AAC 14) under Alaska Administrative Code: Title 3, Chapter 14 for licensing authority.
Branch Licenses Description Requirements Checklist
Mortgage Broker / Lender Branch Registration This registration is required for all offices, other than the main office identified on the Mortgage Broker / Lender License, whether located in Alaska or not, which conducts business with Alaska customers.
Registered Depository Institution Branch Registration Each company that has registered as a registered depository institution is required to register each office, other than the main office identified in the application, whether located in Alaska or not, that is or will be conducting business with Alaska residents. See Alaska Statutes (AS) under Chapter 06.60 Alaska Secure and Fair Enforcement for Mortgage Licensing Act of 2010 and regulations (3 AAC 14) under Alaska Administrative Code: Title 3, Chapter 14 for licensing authority. This license should only be applied for by a company that also holds or is applying for the AK Registered Depository Institution Registration.
Individual Licenses Description Requirements Checklist
Mortgage Loan Originator License This License is required of any natural persons conducting residential mortgage origination activities in Alaska on behalf of a mortgage broker or mortgage lender from locations licensed to conduct activity in Alaska.
 

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