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Below you will find information on the following
topics for Utah: Mortgage Broker Licensing, Mortgage
Broker Training, Mortgage Broker License Requirements, Utah
Mortgage Laws and Regulations, Mortgage Broker Schools, etc.
If you would like to find information about another state then
please click
here and select the state.
Utah Mortgage License and Education Information |
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Due to recent changes in Utah law, most first mortgage brokers and lenders
are now under the jurisdiction of the Utah Department of Commerce, Division
of Real Estate. Those still subject to the jurisdiction of Department of Financial
Institutions are:
- 2nd Mortgage lenders (see Consumer Lending).
- 1st Mortgage Servicers.
- Depositories or affiliates thereof engaging in 1st Mortgage Brokering and/or
Lending.
For more information, you may visit Department
of Financial Institutions.
Following information is required to obtain mortgage broker license in the
state of Utah:
- Submit a completed and signed application along with the stipulated fees
and other required documents to the department.
- A surety bond in the amount of $25,000 must be filed with the department
by the applicant.
- There is no exemption for one-time loans or wholesale lenders in the state
of Utah.
- All applicants are required to take a mortgage broker's examination. Application
for license will be generated at the testing center after successful completion
of the exam.
- If the exam is taken at one of Promissor's Utah test sites, fingerprints
will be taken after the successful completion of the mortgage lender exam.
For more information, visit http://www.commerce.utah.gov/dre/Newsletters/MM1203.pdf.
- The applicant must list the name under which the applicant wishes to operate
business in the state of Utah as well as the address of the principal office
location of the applicant.
- The applicant must submit a fingerprint card in a form acceptable to the
department.
- The Utah Mortgage Broker License is valid for two years. The licensee is
required to file the renewal application along with the renewal application
fee not later than 30 days before the expiry date of the license.
- Entities must submit in writing to the Division at the address below notice
of changes in name, address, or in Control Person within 10 days after the
change.
- Currently, there are no specific educational or experience requirements
for obtaining a Mortgage Broker License in the State of Utah.
For additional information, visit State
of Utah Division of Real Estate- Licensing
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Major Cities Include: Salt Lake City, West Valley City, Provo, Sandy, Orem, Ogden, West Jordan, Layton, Taylorsville, Logan, Bountiful, Murray, Kearns, Roy, South Jordan, Midvale, Clearfield, Draper, Riverton, Pleasant Grove, Magna, Tooele
This website has been prepared for informational purposes only.
Please make sure you read the site
disclaimer. |
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