Mortgage

How do I renew my loan originator or lending manager license?

In addition to the continuing education that is required on a national level that includes 8 hours of continuing education (3 hours of federal law and regulations, 2 hours of ethics, 2 hours of nontraditional mortgage loan origination, and 1 hour of elective), there is now an additional requirement of state-specific law and regulation. This course is only approved through the NMLS, but the content and length of the course is updated on an annual basis by the Division of Real Estate and the Mortgage Commission.

This course will consist of 1 hour of Utah law and regulation. This course must be completed Prior to requesting your renewal. Note: This course will show on your NMLS record and will be tracked through NMLS. Click on PROVIDERS  to obtain a list of courses available.

Newly licensed Mortgage Loan Originators will have a one-time requirement to complete the additional 5 hour Utah Post licensing course before their first renewal. The course must be completed Prior to requesting your renewal. Loan Originators that have not completed the course will be prevent from renewing until the course is complete and banked on the NMLS. Click here  for a list of Utah MLO 5 hour course providers. Newly license Lending Managers do not have to complete this course.

Individual Renewal Checklist (Loan Originators and Lending Managers)

Prior to the November 1st renewal period:

• Review your filing in the NMLS  to make sure your information is current and correct. This includes mailing address, email, phone numbers, name, and employment history.
• Review your filing to make sure there are no license items  placed on your filing. License items can be deficiencies or requirements that are pending on your license and must be cleared prior to requesting renewal. Some common deficiencies include Employment History Updates, ACH Payments that may have been returned unpaid, requests for information about Disclosure Questions or Credit Reports. Satisfy all pending license items prior to renewal. You may call the licensing department at 801-530-6747, if you do not understand your deficiency or need help in getting it cleared. When a license item is placed on your filing, you receive an email through the NMLS notifying you of the deficiency or requirement.

**REFER TO YOUR INDIVIDUAL NMLS DASHBOARD  TO REVIEW ANY OUSTANDING REQUIREMENTS AND/OR DEFICIENCIES**

• If your driver’s license number has changed, be sure to indicate this update on your filing, as well as your US citizenship status. This is found under the Identifying Information section on your MU4 form. If this information is incorrect or incomplete, we may place a deficiency on your license requiring you to provide the Division with a copy of the Certificate of Legal Presence . If your information is recorded accurately on your filing, you will not need to submit this form (Certificate of Legal Presence) to us as you may have done in prior years.
• NMLS-approved continuing education (8 hours) must be completed prior to requesting renewal. It is recommended that to insure an on time renewal, these hours must be completed no later than December 15th, of the renewal period. The NMLS will prevent you from requesting renewal if these hours are not banked.
• Utah specific continuing education on Utah Law (1 hour) and Utah New MLO 5 hr course ( if applicable) must be completed prior to requesting renewal. Note: The NMLS system will prevent you from requesting renewal if you have not completed the course. Note: To insure an on time renewal, these hours must be completed no later than December 15th of the renewal period. These hours will be tracked on the NMLS.
• If your license is on probation and there are requirements that must be completed at renewal, either to have the probation removed or as terms of the probation, make sure these items are reported to the Division before you request renewal. This will aid in getting your renewal processed in a timely manner.

On or After November 1st of the renewal period:

• You can now request renewal. The renewal fee is $78.00 which includes the NMLS processing fee of $30, Renewal fee of $30.00 and Recovery Fund fee of $18.00.
• If there is a change in your answers to the Disclosure Questions, you must upload the required documentation explaining the change in your filing.
• If you request your renewal during the renewal period of Nov 1 - Dec 31, your license will remain in the same status that was reflected when your renewal was request. If your status was active, you can continue to work as usual. Your renewal approval is contingent on all requirements being met, in which case the Division will process the renewal as quickly as possible and email your new license to you.

Entity License Renewal (company, dbas, branches):

Prior to the start of the renewal period, before November 1st:

• Review MU1 filing and/or MU3 filing to confirm that all the information, company location, mailing address, contact information, etc., is all correct.
• If there is a change in your answers to the Disclosure Questions, you must upload the requirement documentation explaining the change in your filing.
• Review the entity filing to make sure there are no license items placed on the filing. These items could include things like a returned ACH Payment, update qualifying individual, company ownership, etc.
• For each Entity license and Other Trade Name (DBA) Entity license, please submit a current Certificate of Existence from the Utah Division of Corporations. This document should be uploaded under the Document Type Certificate of Authority/Good Standing Certificate in the Document Uploads section of the Company Form (MU1) and must be completed before the license can be renewed.

On or After the start of the renewal period, November 1st :

• Request and pay renewal fees through NMLS between November 1st and December 31st of the current reneal period.
• If your renewal is requested during the renewal period of Nov 1st - Dec 31st, the license will remain in the status that it was when the renewal was requested. If the status was active, work can continue as usual. Your renewal approval is contingent on all requirements being met, in which case, the Division will process the renewal as quickly as possible and email your new license to the email address listed in the contact information.

**Submit the Certification of Legal Presence  only if requested of you by the Division.