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Who is required to have this license?
Any individual who for compensation or gain or in the expectation of compensation or gain:
- Takes a residential mortgage loan application; or
- Offers or negotiates terms of a residential mortgage loan.
Who does not need this license?
- An individual engaged solely as a loan processor or underwriter.
- A person or entity that only performs real estate brokerage activities and is licensed or registered in accordance with North Dakota law, unless the person or entity is compensated by a lender, a mortgage broker, or other mortgage loan originator or by any agent of such lender, mortgage broker, or other mortgage loan originator.
- A person or entity solely involved in extensions of credit relating to timeshare plans, as that term is defined in 11 U.S.C. 101(53D).
- Registered mortgage loan originators, when acting for an entity described in subdivision (a) of subsection 11 of North Dakota Century Code section 13-10-02.
- Any individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member of the individual.
- Any individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual’s residence.
- A licensed attorney who negotiates the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney’s representation of the client, unless the attorney is compensated by a lender, a mortgage broker, or other mortgage loan originator or by any agent of such lender, mortgage broker, or other mortgage loan originator.
Pre-requisites for registration applications?
- Pre-licensure certification
- A Passing Score on a National and State Mortgage Test
- Satisfactory criminal background check including finger prints
- ND DFI satisfactory review of a credit report
- License Sponsorship in NMLS by your company
For more information about the actual course please visit Mortgage Education Course FAQ’s.
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agentcampus.com offers these North Dakota mortgage education courses in conjunction with MortgageEducation.com. All the mortgage education courses are NMLS-approved and will satisfy all the required education hours for your state. Should you have any questions please feel free to contact MortgageEducation.com.
MortgageEducation.com
NMLS Provider No. 1400051
Address: 555 West 23rd Street, N10E New York, NY 10011
Customer Support:
(404) 496-4177
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