The Department of Financial Institutions (OFI) of
the Public Protection Cabinet in Kentucky is
responsible for all supervision and regulation of the Mortgage Broker License in the
All Kentucky mortgage licenses are handled through the National Mortgage Licensing System.
Prelicensing requirements include approved courses that are 20 or more hours and contain 3
hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus
12 or more hours of electives. This may be in addition to Kentucky-required content.
An overview of the Kentucky
mortgage licensing process is available online. A minimum of eight hours per year of continuing
education is required per year, per the SAFE act.
The licensing fee for NMLS for Loan
is $119. The licensing fee for a broker
is $850. Click on the links in the preceding sentences for more details about each
New Mortgage Brokers, and those licensed in another state for less than one year, are
required to complete 30 hours of approved continuing education courses. All other
applicants are required to complete 12 hours of approved continuing education courses
before registering. All those with a Mortgage Broker License
are required to complete 12
hours more of approved continuing education courses every year. Copies of the Educational
Certificates are submitted to the Office of Financial Institutions annually.
Fingerprints need to be furnished with the application. An FBI Criminal Background Check
will be made ascertaining whether there have been any felony convictions within the
previous 5-year period, and whether there have ever been convictions involving fraud.
Registration is approved on a case by case basis. This investigation process takes
approximately six to eight weeks. A full credit report authorization also accompanies the
Effective in June, 2003, all Mortgage Brokers need to have a physical office in Kentucky
in order to do business there. Post Office boxes are not permitted. There must be a street
address and access for the public during regular business hours. Out-of-State Mortgage
Brokers who were previously licensed to do business in Kentucky now must open a physical
office. If the business office is in a residence, the principal Mortgage Broker must live
in the residence. A copy of the deed or lease needs to be furnished, along with a letter
from the local zoning board stating that the residence meets all in-home office
The National Association of Mortgage Brokers
provides excellent educational courses for those who both want to become a Mortgage Broker
in Kentucky and those already licensed.
Kentucky Mortgage Forms
Kentucky Reciprocity States
(as of 2/23/2010)
Kentucky Approved Mortgage Schools Prelicensing and Postlicensing
Advanced Education Systems LLC
Career Development Center (Lexington)
Kentucky Association of Mortgage Professionals (Owensboro)
|Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Department of Financial Institutions website for the
latest list of approved