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Mortgage News Daily combines the expertise of some of the housing industry's leading minds with the power of social media to offer an always lively, constantly evolving web community. MND communicates breaking news, streams video, and provides expert opinion and commentary to a community of interested market professionals and curious consumers.Become A Mortgage Broker In Utah
Mortgage regulation and supervision in Utah are performed by the Utah Division of Real Estate, whose
offices are in Salt Lake City. All Utah mortgage licenses are handled through the Nationwide Mortgage Licensing System.
Prelicensing requirements include approved courses that are 40 or more hours and contain 3
hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus
32 or more hours of electives. This may be in addition to Utah-required content. A
minimum of eight hours per year of continuing
education is required nationally per year, per the SAFE act.
The licensing fee for NMLS for Loan
Originators is $187. The licensing fee for a Mortgage
Entity is $325. Click on the links in the preceding sentences for more details about
each license.
All Entities also need to have a Control Person (any individual who manages or controls
the Entity's mortgage transactions). When applying, a Surety Bond for $25,000 accompanies
the application.
Individual Mortgage Broker applicants in Utah must be 18 years of age and also provide a
Surety Bond for $25,000 with the application. Applicants must complete 20 hours of
pre-license education at an approved school
and pass the licensing exam before applying. If the applicant does not apply within
90 days of passing the exam the results are voided and a new examination must be taken.
The current licensing law pertains to any residential mortgage loan activity that is
either directed to or received within the State of Utah. Although no physical office is
required, all of the above requirements for licensing must be met by the applicant.
The Utah Association of
Mortgage Brokers (UAMB), is an affiliate of The National
Association of Mortgage Brokers (NAMB) . Both organizations focus on providing
information, education, representation and professional help for those who want to become
a Mortgage Broker in Utah and those already licensed.
Utah Mortgage Forms
|
Utah Reciprocity States
|
- Most mortgage forms can be obtained online. Ones listed below pertain to new salespersons and brokers.
- Mortgage Licensing FAQs
- Education FAQs
- Fee Schedule (2010)
|
N/A
(as of 2/23/2010)
|
Utah Approved Mortgage Schools Prelicensing and Postlicensing
Education
|
Community Colleges
N/A
|
Private Schools
America's Premiere Real Estate
and Financing School, Inc. (Midvale)
American Mortgage Education (West
Jordan)
Mortgage Educators (Midvale)
Praedo Institute, aka The Mortgage Academy (American
Fork)
Stringham Mortgage School (Salt Lake City)
|
Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Division of Real Estate website for
the latest list
of approved schools. |
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YOUR MESSAGE HERE
Become A Mortgage Broker In Utah
Mortgage regulation and supervision in Utah are performed by the Utah Division of Real Estate, whose
offices are in Salt Lake City. All Utah mortgage licenses are handled through the Nationwide Mortgage Licensing System.
Prelicensing requirements include approved courses that are 40 or more hours and contain 3
hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus
32 or more hours of electives. This may be in addition to Utah-required content. A
minimum of eight hours per year of continuing
education is required nationally per year, per the SAFE act.
The licensing fee for NMLS for Loan
Originators is $187. The licensing fee for a Mortgage
Entity is $325. Click on the links in the preceding sentences for more details about
each license.
All Entities also need to have a Control Person (any individual who manages or controls
the Entity's mortgage transactions). When applying, a Surety Bond for $25,000 accompanies
the application.
Individual Mortgage Broker applicants in Utah must be 18 years of age and also provide a
Surety Bond for $25,000 with the application. Applicants must complete 20 hours of
pre-license education at an approved school
and pass the licensing exam before applying. If the applicant does not apply within
90 days of passing the exam the results are voided and a new examination must be taken.
The current licensing law pertains to any residential mortgage loan activity that is
either directed to or received within the State of Utah. Although no physical office is
required, all of the above requirements for licensing must be met by the applicant.
The Utah Association of
Mortgage Brokers (UAMB), is an affiliate of The National
Association of Mortgage Brokers (NAMB) . Both organizations focus on providing
information, education, representation and professional help for those who want to become
a Mortgage Broker in Utah and those already licensed.
Utah Mortgage Forms
|
Utah Reciprocity States
|
- Most mortgage forms can be obtained online. Ones listed below pertain to new salespersons and brokers.
- Mortgage Licensing FAQs
- Education FAQs
- Fee Schedule (2010)
|
N/A
(as of 2/23/2010)
|
Utah Approved Mortgage Schools Prelicensing and Postlicensing
Education
|
Community Colleges
N/A
|
Private Schools
America's Premiere Real Estate
and Financing School, Inc. (Midvale)
American Mortgage Education (West
Jordan)
Mortgage Educators (Midvale)
Praedo Institute, aka The Mortgage Academy (American
Fork)
Stringham Mortgage School (Salt Lake City)
|
Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Division of Real Estate website for
the latest list
of approved schools. |
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