Mortgage Loan Originator Information
On and after August 5, 2009, all mortgage loan originators conducting business in this state must be licensed with the Division of Real Estate pursuant to House Bill 1085 . Only those mortgage loan Originators who are licensed or exempt from licensure by law may originate a mortgage, offer to originate a mortgage, act as a mortgage loan originator, or offer to act as a mortgage loan originator.
(Please
note it may take up to 3 months to complete the Criminal
background check
process.)
____________________________________________________________________________
New Information:
- Acclaim Mortgage, Inc. V. Erin Toll 10/22/2009
- Mortgage Loan Originator Licensing Fees. 10/20/2009
- Mortgage Loan Originator Continuing Education Matrix.
- Mortgage Loan Originator Inactivation 08/31/2009
- FHFA letter to CSBS 08/18/2009
- MB 1.6 Independent Contractor Loan Processors and Underwriters 07/22/2009
- SAFE Act Notice 07-02-2009
- House Bill 1085
- Mortgage Loan Originator Education Extension and Testing Modifications
- School Pass Rates
- 1.5 Loan Modifications Position Statement
- SAFE ACT
- Update license information
- Mortgage Loan Originator Education Information
- Licensing Required
- Errors and Omissions Providers
- The Licensing Process
- New Licensing Requirements
1. Pre-Licensing Education - All mortgage Loan Originators will need to complete the pre-licensing education requirements and the requisite test. This will need to be completed by all mortgage Loan Originators prior to January 1, 2009. Mortgage loan originators who fail to complete the pre-licensing and test requirement are subject to disciplinary action regarding their license. The Director, Erin Toll, appointed a 10 member Mortgage Broker Education Task Force to help develop and determine the number of pre-licensing hours required, course content, course approval, the pre-licensing test and continuing education.
2. All mortgage loan originators will need to complete a minimum of nine (9) hours of continuing education every three years.
Information regarding the Nationwide Mortgage Licensing System and State requirements
Mortgage Loan Originator legislative update
Exemption Letters
The Division of Real Estate began issuing exemption letters November 1, 2006. The Division issues exemption letters as a matter of courtesy to the industry. The Mortgage Loan Originator Licensing Act (the "Act") does not require exempt companies to apply for an exemption letter, nor does it require the Division to issue exemption letters.
Please note that exemptions are specific to only the licensing requirements and are not exemptions from all other provisions of Colorado mortgage broker law or any rule adopted by the Director. To learn more about the specifics of this exemption, please review the Director’s position statement at http://www.dora.state.co.us/real-estate/rulemaking/MB/ps_Banks.pdf.
Surety Bond
Prior to licensing, an applicant for license shall post with the Director of the Division of Real Estate a surety bond, or an alternative authorized by Article 35 of Title 11, C.R.S., of twenty-five thousand dollars ($25,000.00). More information about surety bonds
Search for licensed:
Real
Estate Brokers, Mortgage Loan Originators, and Appraisers
Search for:
Verify
your license status or your finger print status
(Pending Applicants)
Search for:
Disciplinary
Records of Real Estate Brokers, Mortgage Loan Originators and Appraisers