Get Your Utah Mortgage Loan Originator License in 2023!

 

 

Utah Pre-Licensing Courses

Starting at: $779 Now Only $399.98!

Use Coupon Code: ANJ399

 

 

Licensed in another state and want to add Utah?

 

  

 

Utah Post-Licensure

Starting at: $250 Now Only $69.98!

 

Post-Licensure Course for Newly Licensed Utah Loan Originators

Become a Utah DRE Principal Lending Manager!

 

How to Get an NMLS Mortgage License in Utah

 

If you have been asking yourself, “how do I get a mortgage license in Utah?”, this guide will tell you exactly how to do it. In order to become a licensed Mortgage Loan Originator in Utah, you will have to complete the steps below. You should also consider the costs, education, becoming a Utah MLO, and other factors discussed in this guide that go into becoming a loan officer in the state of Utah.

	Step 1				Step 2				Step 3
	Apply For Your NMLS Account and ID Number				Complete Your NMLS Pre-License Education				Need to Pass the SAFE MLO National Test
	The first step to obtaining your Utah mortgage license is applying for an NMLS account and ID number. To do so, go to the NMLS website.				Once you’ve created your NMLS account, it’s time to complete your pre-license education. Utah requires 35 hours (20 hours & 15 hours elective) SAFE pre-licensure education.				With your education complete, you need to schedule an appointment for the National Test Component exam. Find out more on how to take your NMLS test here. Also check out the NMLS MLO testing handbook.
	Step 4				Step 5				Step 6
	Complete Background Checks and Pay All Fees				Apply for Your Utah Mortgage License				Associate Your NMLS Account with Your Employer
	To finalize your application and receive your license, you will need to pay several non-refundable fees and get a background check. Find out more about how to complete your background check here.				After receiving a passing score on your NMLS mortgage exam, you need to apply for your Utah NMLS license. You can find more information on this step for (DFI) here and (DRE) here.				Your license will still be pending in Utah until you have an employer sponsorship, which lets the government know that an employer is supervising your individual license. Learn how to associate your NMLS account with your employer here.

 

Utah Mortgage License Requirements

Every state has a unique set of NMLS license requirements concerning mortgage education. New mortgage loan originators are required to complete a 20-hour NMLS course, which is standard for every state. Additionally, the requirements to get your mortgage license in Utah dictate that each new mortgage loan originator must complete a state-specific, 15-hour course on laws and rules. Therefore, obtaining an MLO license in Utah requires a total of 35 hours of combined mortgage education.

 

 

Utah Mortgage Broker License VS. Utah Loan Officer License

Mortgage broker licenses are commonly confused with the more common loan officer license. While the terms mortgage broker, loan officer, and mortgage loan originator are similar, they aren’t synonymous. So what’s the difference?

 

Generally speaking, a mortgage broker is a company that employs mortgage loan officers. The loan officers are employed by the broker to originate loans for home-buyers when they are looking for a loan for their mortgage.

 

 

MLO Pre-Licensing Requirements in Utah

There are three ways to complete the pre-licensing mortgage education requirements, otherwise known as “pre-license” education. Mortgage training requirements may be fulfilled in a live classroom setting at a Utah mortgage license school, in an online instructor-led (OIL) format, or in a live webinar.

 

Primarily, we provide these mortgage training courses in conveniently bundled OIL formats. The courses are led by an instructor via pre-recorded video and slideshow presentations. Each section of the course lasts 5 minutes and is followed by a quiz.

 

Utah New Mortgage License Education Requirements

 

New state-licensed mortgage loan originators are required to complete 35 hours of SAFE pre-licensure education that includes:

- 3 hours of Federal law and regulations

- 3 hours of ethics, fraud, consumer protection, and fair lending issues

- 2 hours of non-traditional mortgage lending

- 12 hours of undefined instruction (electives)

- 15 hours of Utah state law education

 

New Mortgage License Education does not count toward annual CE credits. MLOs are also advised to not retake any 20-hour new license education course unless otherwise directed by a state regulator.

 

 

Cost of Getting Your Mortgage License in Utah

Learning how to become a mortgage loan officer in Utah takes time and money. There are several steps you must take in registering and applying. The SAFE act has established licensing and registration standards for every Mortgage Loan Originator.

Here is a complete list of the costs involved with getting your mortgage license in Utah:

 

- NMLS Initial Processing Fee: $30

- UT-DRE Application Fee: $118

- Credit Report: $15

- FBI Criminal Background Check: $36.25

 

Total Application Fees: $199.25

 

 

Taking the NMLS Exam

After completing the pre-licensing course bundle, you will be ready to take the NMLS license national exam. Prepare for the national exam with our NMLS test prep bundles to maximize your chances of passing the national exam on your first try.

 

All completed hours of pre-licensing education will be reported to the NMLS by Mortgage Educators & Compliance. To learn more about Utah’s specific licensing requirements, click the button below.

 

 

PE Expiration Policy in Utah

PE Expiration is a policy that was created by the NMLS Policy Committee that addresses situations in which an individual is required to retake 20 hours of pre-licensure education if they fail to acquire a valid mortgage license within three years from the last date of licensure as a mortgage loan originator. Utah is currently in pending enactment for the PE Expiration policy which means the policy is currently not enforced, but it will be rolled out soon.

 

 

Utah (DFI) Continuing Education Requirements

Anyone seeking a mortgage license in Utah (DFI) is required to complete an 8-hour continuing education course. The course hours are broken down as follows:

 

- 3 hours of federal law

- 2 hours of ethics

- 2 hours of non-traditional mortgage lending

- 1 hour of electives

 

Remember to take into account the "successive years" rule, which prohibits loan officers from taking the same CE course two years in a row. Mortgage Educators changes its continuing education course annually to ensure no issues with the "successive years" rule.

 

**The deadline to complete CE in Utah (DFI) is December 31. MLO’s in Utah are actually prevented from applying for license renewal until they have completed their CE.

 

Utah (DRE) Continuing Education Requirements

Anyone seeking a mortgage license in Utah (DRE) is required to complete a 10-hour continuing education course. The course hours are broken down as follows:

 

- 3 hours of federal law

- 2 hours of ethics

- 2 hours of non-traditional mortgage lending

- 1 hour of electives

- 2 hours of Utah-specific law

 

**The deadline to complete Utah (DRE) CE in Utah is December 15. MLOs in Utah are actually prevented from applying for license renewal until they have completed their CE.

 

Becoming a Utah PLM

You can also apply to become a principal lending manager (PLM). In order to meet the minimum qualifications for becoming a Principal Lending Manager in Utah, you have to meet additional professional and educational requirements to apply. These include mortgage lending experience, passing a Utah PLM-specific test, and completing a 40-hour PLM course in addition to all the individual MLO requirements. You will need to complete the MU4 Form in NMLS with the PLM designation selective on the application process and the company you are affiliated with will need to sponsor you for an approved and active license.

If becoming a PLM sparks your interest, check out our NEW 40 Hour Utah DRE Principal Lending Manager Self - Study Course through the link below!

2023 Utah DRE Principal Lending Manager 40 Hour Course

 

Get Your Mortgage License in Utah

If you’re new to the state or seeking a Utah mortgage license renewal, Mortgage Educators is ready to help. Learn why we’re the most convenient and flexible option by enrolling today in our Utah mortgage license bundle course or our Utah pre-licensure course.

 

 

 

Additional Questions?

 

Do you still have questions on how to get your mortgage license in Utah? Mortgage Educators and Compliance is here to answer any additional questions that you may have in regard to your Utah mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.