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Become A Mortgage Broker In Minnesota
Posted to: Mortgage License Information
Thursday, September 04, 2008 4:26 PM
Article Summary : This article will help anyone looking for information pertaining to a mortgage license in the state of Minnesota or anyone looking to become a mortgage broker in Minnesota. In Minnesota a Mortgage Broker is referred to as a Mortgage Originator . Effective August 1, 1999, Minnesota Statutes Chapter 58 requires a person who acts as a residential mortgage originator or makes residential mortgage loans (which includes both brokers and lenders) to obtain a residential mortgage originator license. All aspects of the licensing are handled through the Minnesota Department of Commerce, www.state.mn.us . The Mortgage Originator License allows one to work with both first and second mortgages. Applicants who desire to become a Mortgage Broker in Minnesota pay a non-refundable license...
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