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Mortgage License Frequently Asked Questions

 Who must license?

According to Utah law, a license is required for any individual or company (whether physically located in Utah or not) that transacts the “business of residential mortgage loans” in Utah. Additionally, branch offices of mortgage companies must register with the Division.

“Business of residential mortgage loans” is defined in statute as: 1) originating a residential mortgage loan; 2) directly or indirectly soliciting, placing, or negotiating a residential mortgage loan; or 3) rendering services related to the origination or funding of a residential mortgage loan, including taking applications, obtaining verifications and appraisals, and communicating with the borrower and lender. (Utah Code §61-2c-102)

Who is exempt from licensing?

Federal government agencies and employees and state agencies and employees are NOT required to be licensed with the Utah Division of Real Estate.

Loan servicers and depository institutions (banks, savings and loan associations, credit unions and industrial loan companies) and their affiliates and employees are regulated by the Utah Department of Financial Institutions and are NOT required to be licensed with the Utah Division of Real Estate.

Wholesale lenders, hard-money lenders, and commercial property lenders are NOT required to be licensed with the Utah Division of Real Estate as long as they do not conduct the business of residential mortgage loans as defined in Utah Code §61-2c-102.

CAUTION: While Utah's mortgage licensing laws may not apply to wholesale lenders, hard-money lenders, commercial property lenders or real estate lenders, other laws may apply. Any lender whose capital comes from investors must comply with securities laws. This may require licensing as a securities broker-dealer and registering the investment program with the Utah Division of Securities.

How do I become a licensed Mortgage Officer?

To become a licensed Mortgage Officer an individual must:

  1. Meet the statutory licensing qualifications of good moral character, competency, honesty, integrity, and truthfulness. (Utah Code Annotated 61-2c-203)
    Note: According to Administrative Rule R162-202-5, an applicant does NOT qualify for a mortgage license if he or she has any felony in the last five years (starting from the time of conviction/plea or completion of any jail/prison sentence) OR if the applicant has any misdemeanor involving fraud, misrepresentation, theft, or dishonesty within the last three years.
  2. Be at least 18 years of age at the time of application.
  3. Take 20 hours of approved education at a certified Mortgage Pre-license School as outlined on the Mortgage Officer Pre-license Education Curriculum.
  4. Take and pass the Mortgage Officer exam.
  5. Submit to the Division:
  • Completed and signed application (issued at the testing center).
  • Signed original Education Certifying Document (issued by the mortgage school).
  • Signed responses to the Qualifying Questionnaire (issued at the testing center) and supporting documentation to any “YES” answers.
  • Two fingerprint cards or receipt of electronic fingerprint submission and a signed Fingerprint Waiver (issued at the testing center).
  • $171 non-refundable fee ($100 application fee, $36 recovery fund fee and $35 fingerprint processing fee).

Note: Incomplete applications will be returned to the applicant.

Note: If the exam is taken at a location in Utah, fingerprints will be taken after the exam.  If the test is taken outside of Utah, fingerprint cards can be obtained from the Division or a local police station.

How do I become a licensed Principal/Associate Lending Manager?

To become a licensed Principal Lending Manager an individual must:

  1. Meet the statutory licensing qualifications of good moral character, competency, honesty, integrity, and truthfulness. (Utah Code Annotated 61-2c-203)
    Note: According to Administrative Rule R162-202-5, an applicant does NOT qualify for a mortgage license if he or she has any felony in the last five years (starting from the time of conviction/plea or completion of any jail/prison sentence) OR if the applicant has any misdemeanor involving fraud, misrepresentation, theft, or dishonesty within the last three years.
  2. Complete, sign and submit to the Division the PLM/ALM Experience Documentation Form (and Addendum if necessary).
  3. Wait for the notice of experience verification from the Division prior to taking the pre-license education and exam.
  4. Take 40 hours of approved education from a certified Mortgage Pre-license School as outlined on the PLM Pre-license Education Curriculum.
  5. Take and pass the PLM exam.
  6. Submit to the Division:
  • Completed and signed application (issued at the testing center).
  • Signed original Education Certifying Document (issued by the Division).
  • Signed responses to the Qualifying Questionnaire (issued at the testing center) and supporting documentation to any “YES” answers.
  • Two fingerprint cards or receipt of electronic fingerprint submission and a signed Fingerprint Waiver (issued at the testing center).
    Note: fingerprints and associated processing fee are not required if currently licensed with the Division.
  • $171 non-refundable fee ($100 application fee, $36 recovery fund fee and $35 fingerprint processing fee).

Note: Incomplete applications will be returned to the applicant.

Note: If the exam is taken at a location in Utah, fingerprints will be taken after the exam.  If the test is taken outside of Utah, fingerprint cards may be obtained from the Division or a local police station.  

How do I renew my license?

Licenses are valid for a two-year period and must be renewed no sooner than six weeks prior to and no later than the expiration date. The expiration date is printed on the license and can also be found on the Division’s Licensee Database.

Note: Renewal requirements must be completed prior to renewing your license. If your license expires, you cannot work until the license is reinstated. Your application is subject to audit for compliance with all renewal requirements.

To renew a license an individual must:

  • Collect your license number, social security number, and debit or credit card.
  • Click here to renew online.
    Note: Licenses must be renewed online.  If you do not have the capability to renew online, you may submit a request to the Division stating the reasons you believe you qualify for a hardship exemption.  Upon a finding of good cause by the Division, you will be sent a paper renewal form.  Please note this process may take up to three weeks and you should plan your renewal accordingly.

Licensees may be reinstated online within 30 days past expiration with a $50 late fee.

To reinstate a license after 30 days and within six months past expiration, submit to the Division:

  • Completed and signed License Reinstatement Form.
    Note: confirm your address, license status and affiliation on the Division’s Licensing Database. Updates to address can be made on the Reinstatement Form. Updates to license status or company affiliation require a Change Card prior to completing your renewal.
  • For an active license, copies of education certificates totaling at least 14 hours of certified Mortgage CE Courses, including 2 hours of ethics and 3 hours of federal/state mortgage lending laws.  Click here for a list of certified "Live" Mortgage Continuing Education Courses or "Online" Mortgage Continuing Education Courses.  (Courses that are highlighted in yellow have been certified as ethics or federal/state mortgage lending laws.)
    Note: You may obtain credit for a non-certified course by submitting to the Division the Non-Certified Continuing Education Credit Request.
    Note: CE is not required if renewing as inactive BUT you must submit a change card. Later changing to active status requires proof of 14 hours of CE.
  • For Entities, a Certificate of Existence from the Utah Division of Corporations showing the company is current and in good standing.
  • For Individuals, $66 non-refundable fee.
  • For Entities, $253 non-refundable fee.
  • For an active license, a Change Card and non-refundable $15 fee.
  • Copies of education certificates totaling at least 12 hours (in addition to the 14 CE hours for renewal).
  • $100 non-refundable reinstatement fee.

Licenses expired for more than six months are not eligible for reinstatement and Utah law requires that licensees reapply as a new applicant.

Note: Incomplete applications will be returned to the applicant.

How do I update my address, status, or affiliation?

How do I obtain a license for a Mortgage Company?

To obtain a license for a Mortgage Company, submit to the Division:

  • Completed and signed Mortgage Company/Branch Application.
  • A Change Card for each licensee assigned to the Company and affiliating with the Principal Lending Manager.
    Note: All mortgage companies licensed by the Utah Division of Real Estate require a licensed Principal Lending Manager who supervises and pays all Mortgage Officers.
  • Certificate of Existence from the Utah Division of Corporations showing the company is current and in good standing.
  • Notarized letter on the company’s letterhead, signed by a company Officer, Manager/Member or Owner, authorizing the PLM to use the company name.
  • $250 non-refundable fee ($200 application fee and $50 recovery fund fee).

How do I register a Branch Office of a Mortgage Company?

To register a Branch Office, submit to the Division:

How do I change a Mortgage Company name?

To change a Company name, submit to the Division:

  • Completed and signed Change Card.
  • Certificate of Existence from the Utah Division of Corporations showing the company is current and in good standing.
  • Notarized letter on the company’s letterhead, signed by a company Officer, Manager/Member or Owner, authorizing the PLM to use the company name.

How do I change a Mortgage Company owner?

To change a Company owner, submit to the Division:

  • Certificate of Existence from the Utah Division of Corporations showing the new ownership and that the company is current and in good standing.
  • Notarized letter on the company’s letterhead, signed by a company Officer, Manager/Member or Owner, authorizing the PLM to use the company name.

How do I change the PLM for a Mortgage Company?

To change the PLM for a Mortgage Company, submit to the Division:

  • Completed and signed Change Card for each PLM.
  • Notarized letter on the company’s letterhead, signed by a company Officer, Manager/Member or Owner, authorizing the PLM to use the company name.
  • $15 non-refundable fee.

How do I obtain a Utah Mortgage license while licensed in another state?

Utah does not currently have reciprocity agreements with any states. However, Utah law allows an individual to obtain a Mortgage Officer license through reciprocity by satisfying the requirements outlined below. (Utah Code Annotated 61-2c-207)

To become a licensed Mortgage Officer through reciprocity an individual must:

  1. Meet the statutory licensing qualifications of good moral character, competency, honesty, integrity, and truthfulness. (Utah Code Annotated 61-2c-203)
  2. Hold an active mortgage license in good standing from another state.
  3. Have at least five years experience actively originating loans or directly supervising the origination process.
    Note: experience must be as a licensee in a jurisdiction that requires pre-licensing education and exam. Experience in states that do not require pre-license education and exam will not count.
  4. Affiliate with a licensed Principal Lending Manager.
    Note: All active licensees, must be supervised and paid by a licensed Principle Lending Manager (PLM).
  5. Submit to the Division:
  • Completed, signed and notarized Mortgage Officer Reciprocity Application.
  • Original and certified license history (no more than six months old) from the jurisdiction where you are actively licensed.
  • Original and certified license histories (no more than six months old) from all other jurisdictions where you have previously held a mortgage license.
  • Two fingerprint cards and a signed Fingerprint Waiver (cards may be obtained from the Division or a local police station).
  • $171 non-refundable fee ($100 application fee, $36 recovery fund fee and $35 fingerprint processing fee).