The Mortgage and Consumer Finance Division of the Michigan Department of Labor & Economic Growth (DLEG), officially began business on December 8, 2003, in a move to centralize and streamline various economic departments under one department. Within the DLEG, the Office of Financial and Insurance Services handles all aspects of licensing and supervising Mortgage Brokers. Michigan issues separate licenses for Mortgage Brokers handling first mortgages and Mortgage Brokers handling second mortgages. An applicant may apply for either or both of these licenses.

All Michigan 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 Michigan-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 $319. The licensing fee for a 1st mortgage broker is $1050. The fee for a 2nd mortgage broker licenses is $600.  Click on the links in the preceding sentences for more details about each license.

If applying as a Mortgage Broker for either first or second mortgages, then applicants provide either a $25,000 Surety Bond or a $25,000 Irrevocable Letter of Credit. A complete ten-year personal history and ten-year employment history needs to accompany the application. In addition, a Personal Disclosure Statement and also a Confidential Background Information Consent Form must be included. The financial statements accompanying the application need to reflect a minimum net worth of $25,000.

The Michigan Mortgage Brokers Association (MMBA), is an affiliate of the National Association of Mortgage Brokers (NAMB), Working together, both of these organizations provide excellent real estate educational courses for those who want to obtain a Mortgage Broker License in Michigan and those already licensed.

Michigan Mortgage Forms

Michigan Reciprocity States



(as of 2/23/2010)

Michigan Approved Mortgage Schools Prelicensing and Postlicensing Education

Community Colleges


Private Schools

Abacus Mortgage Training
Training Pro
Last Update:  2/22/2010
This list may not include all approved schools. Please visit the Mortgage and Consumer Finance Division website for the latest list of approved schools.