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Alaska Mortgage Broker License Requirements
As of July 1, 2008, all mortgage originators are required to pass a background check, pass a competency exam, complete 24 hours of continuing education every biennial licensing period, pay into a surety fund, and obtain an originator license. Mortgage lenders and mortgage brokers must obtain a mortgage license.
Mortgage brokers, mortgage lenders, and mortgage originators currently operating in Alaska as of June 30, 2008, have until March 1, 2009 to become licensed. Anyone starting after June 30, 2008, must become licensed prior to providing service to Alaska residents.
Alaska Mortgage Lending License Exam Information
Pearson VUE, a national testing provider, will administer the competency examination. Before taking the examination, you must contact the State of Alaska prior to scheduling your Mortgage Originator exam for a testing voucher.
To schedule an appointment to take the exam, please visit Pearson VUE's website or call Pearson VUE at (888) 274-7292. Pearson VUES's Candidate Handbook is a useful reference tool for licensing and examination requirements.
You must contact Alaska for each testing voucher needed. Candidates who do not pass the first examination are required to reimburse the State of Alaska for additional examination attempts. Candidates must submit with the application forms, $150 per additional examination required to achieve a passing score.
Alaska Mortgage Lending License Application Information
Candidates must submit the proper application forms, application fee, one fingerprint card and additional testing fees if required to the Alaska Department of Commerce, Community and Economic Development.
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