Licensing Requirements
The SAFE Act requires Vermont licensed mortgage loan originators to meet minimum licensing standards. The minimum requirements to be a licensed mortgage loan originator in Vermont are:
- Complete 20 hours of NMLS-approved prelicense education. The education must include a minimum of:
- three hours of federal mortgage law;
- three hours of ethics;
- two hours related to the nontraditional mortgage market place.
- Pass the national component of the SAFE MLO Test and the Vermont component of the SAFE MLO Test.
- Submit fingerprints to the NMLS for a criminal background check.
- Authorize a credit report within the NMLS.
- Register and obtain a Unique Identifier with the NMLS.
For information on Vermont licensing requirements, visit the Vermont Department of Banking, Insurance, Securities, and Health Care Administration
website or the Nationwide Mortgage Licensing System
website.