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Utah Mortgage Officer License Requirements
You’re required by Utah law to complete 20 hours of approved education and pass an exam. The exam covers state and federal laws and rules relating to mortgage lending.
To work as a mortgage officer in Utah, you need to:
- Meet the statutory licensing qualifications of good moral character, competency, honesty, integrity, and truthfulness. You will need to submit to the Division two fingerprint cards and a signed Fingerprint Waiver (issued at the testing center).
- Be at least 18 years of age at the time of application.
- Complete 20 hours of approved education at a certified prelicense Mortgage school. ProSchools’ Mortgage Officer Success Training is approved by the Utah Division of Real Estate.
- Take and Pass the state mortgage officer exam. The exam fee is due at the time of scheduling the examination. The exam is divided into 80 questions of General knowledge and 20 questions on Utah specific laws.
- Submit a completed and signed application (issued at the testing center). Include a non-refundable fee, and signed responses to the Qualifying Questionnaire (issued at the testing center) and supporting documentation to any "Yes" answers.
Changes to Utah Mortgage Loan Originator Licensing
Due to the passage of the SAFE Act, many changes will occur that affect the licensing of new and current loan originators. The changes that will occur in 2009 and 2010 are:
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Existing Licensees |
New Licensees Until December 31, 2009 |
New Licensees As of January 1, 2010 |
| License Expiration |
All current licensees will expire 12/31/2010. Licenses will then be renewed annually. |
All current licensees will expire 12/31/2010. Licenses will then be renewed annually. |
Licenses are annual and expire 12/31 of each year. |
| Prelicense Education Requirements |
No additional education will be required for existing licensees. |
20 Hours of Utah-approved education will be required to get a license. |
20 hours of NMLS-approved education AND 40 hours of Utah-approved education. |
| Background Check Requirements |
Beginning in 2010, all licensees will be required to complete a background check every 3 years through the NMLS. |
Beginning in 2010, all licensees will be required to complete a background check every 3 years through the NMLS. |
All licensees will be required to complete a background check every 3 years through NMLS. |
| Testing Requirements |
By 12/ 31/ 2010 licensees will have to pass the National component of the SAFE MLO Test. The Utah component will not required. |
Licensees will have to pass a National exam and a Utah state exam. The national portion is registered for through the NMLS and the Utah portion is registered through Pearson VUE. |
1/1/2010 to 2/21/2010:
Licensees will have to pass a National exam and a Utah state exam. The national portion is registered for through the NMLS and the Utah portion is registered through Pearson VUE.
2/22/2010 and thereafter:
Pass the National and Utah components of the SAFE MLO Test. |
| Continuing Education Requirements |
14 hours of state-approved CE will need to be completed by 12/31/2010. Subsequent renewals will be require 8 hours of NMLS-approved CE. |
8 hours of NMLS or state-approved CE will need to be completed by 12/31/2010. Subsequent renewals will be require 8 hours of NMLS-approved CE. |
8 hours of NMLS or state-approved CE will need to be completed by 12/31/2010. Subsequent renewals will be require 8 hours of NMLS-approved CE. |
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Utah Mortgage Officer License Exam Information
New Utah mortgage officers must pass a computerized license examination administered at Pearson Vue facilities across the United States. To schedule an exam date and time, visit www.pearsonvue.com. You are encouraged to reserve your exam date early.
To schedule an exam, you will need to provide the following information:
- Personal information – legal name, address, e-mail address, phone number, Social Security Number and date of birth.
- The name of the examination
- Preferred examination date and test center location
- Exam fees paid in full by credit card
Visit www.pearsonvue.com for more exam reservation guidelines. Scheduled test dates vary widely by location.
Upon arriving at the test center, you’ll need to show two pieces of ID (one photo-bearing), confirmation number provided when the reservation was made, a Candidate Education Certifying document stamped and signed by a school official and/or the Utah Division of Real Estate. The test administrator will direct you to a computer where you can access the exam. You will have three hours to answer 100 multiple-choice questions. You will leave the test center with your official scores.
SAFE Mortgage Loan Originator Test Information
The SAFE Mortgage Loan Originator Test consists of two separate exams called "components":
- National component (100 questions with 90 scored and 10 unscored): The exam will cover: 1) Federal mortgage-related laws (35%); 2) General mortgage knowledge (25%); 3) Mortgage loan origination activities (25%); 4) Ethics (15%)
- Unique State Component (45-60 questions). Until the Utah component is available, the state portion of the exam will be administered by Pearson VUE.
To schedule and take an exam you must:
- Create an account in NMLS. Anyone seeking a license must have or create an account in NMLS prior to enrolling.
- Enroll in the National and/or State-specific test. The fees for the exam will be paid at the time of enrollment through the NMLS.
- Study for the exam. Note: You are not required to complete your prelicense education prior to taking the exam!
- Schedule your exam through either Prometric or Pearson VUE. The test is administered at nearly 500 locations nationwide.
- Arrive at the test center 30 minutes prior to your appointment with current government-issued ID that contains a photo and signature.
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