How our department monitors insurance market practices
Insurance Company Contract and Rate Filings
DIFS Prohibition Orders for Consumer Finance and Credit Union.
Licensing - Consumer Finance and Mortgage
Consumer Finance and Mortgage Forms
BIDCO and Anti-Redlining Forms.
Statutes, Rules and Regulations
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The Mortgage Loan Originator Licensing Act 75 of 2009 provides for the licensing and regulation of individuals originating mortgage loans in the state of Michigan. A mortgage loan originator is an individual who for profit or gain takes a residential mortgage loan application and/or offers or negotiates terms of a residential mortgage loan.
* Completion of 8 hours of continuing education (Exception: MLOs who complete 20 hours of pre-licensure education in the year in which they receive licensure are not required to take continuing education)
➜ NOTE: Continuing education must be completed prior to requesting renewal through NMLS
Any MLO who requests renewal through NMLS after December 31 is subject to a late penalty of $25 per day up to a $1,000 maximum
