Mortgage Loan Originator
Mortgage Loan Originator
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.
Once You Are Licensed
* 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