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Article Summary : This article will help anyone looking for information pertaining to a mortgage license in the state of South Dakota or anyone looking to become a mortgage broker in South Dakota. The South Dakota Department of Revenue and Regulation, Division of Banking , regulates and supervises all aspects of the Mortgage Broker License in South Dakota . The Mortgage Broker License allows the holder to be an intermediary between lenders and a borrower so the borrower may obtain a mortgage loan, and also to place loans with investors for their consideration. A non-refundable fee not to exceed $500 accompanies the application, and the annual license fee is $500. Acting as a Mortgage Broker without having a license in South Dakota is a Class 2 misdemeanor. However, those choosing to become...