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Residential Mortgage Loan Originator License / Exemption
License Description

Any company that directly, or indirectly, for compensation or gain or in the expectation of compensation or gain, solicits or offers to solicit, or accepts or offers to accept an application for a residential mortgage loan through any medium or mode of communication from a borrower, or makes a residential mortgage loan. A residential mortgage originator includes both brokers and lenders. 

A company exempt from licensure under Minn. Stat. § 58.04, subd. 1 must apply for a certificate of exemption. Companies may be exempt from licensing but the individuals originating loans may be required to be licensed per Minn. Stat. Chapter 58A. 

Minnesota Department of Commerce


Review Mortgage Originator

Apply Renewal
Mortgage loan originator licenses licenses expire on December 31 of each year and are renewable on January 1 of each year after that date. The renewal fee is $500. Renewal is done through NMLS


Reapply
If a license was not renewed, has lapsed, or was surrendered and you would like the license activated,follow the instructions at NMLS and reapply for the license.

Out-of-state
 An out-of-state mortgage company does not need to physical presence in Minnesota; however, registration as a foreign corporation with the Office of the Minnesota Secretary of State may be required.


Requirements Checklist -Residential Mortgage Originator License

Requirements Checklist -Residential Mortgage Originator Exemption

None
Licensing Agency
Minnesota Department of Commerce
Licensing Unit
85 7th Place East, Suite 600
St. Paul, MN 55101-3165
(651) 296 6319
licensing@state.mn.us
Active Status Active
Continuing Education No continuing education requirement to maintain license
Criminal Record No criminal record prohibitions
Education No educational requirements
License Type Stand-alone license
License Updated 10/13/2021
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