Let’s dive into the MLO License Education Requirements in Utah. In Utah, mortgage licenses are issued by two agencies: Utah-DFI and Utah-DRE.
Under Utah-DRE, aspiring MLOs must actively complete 20 hours of NMLS approved education. This comprehensive education covers federal law, ethics, and nontraditional mortgage lending. Additionally, UT-DRE adds an extra requirement of 15 hours of approved instruction, not reported to NMLS.
On the other hand, UT-DFI mandates 20 hours of NMLS approved education for MLO licensure. This education specifically covers federal law, ethics, and nontraditional mortgage lending. Importantly, UT-DFI does not impose any state-specific education requirement.
Specifically, if licensing through the UT-DRE, the 20 hours of education includes instruction on 3 hours of federal law, 3 hours of ethics, covering fraud, consumer protection, and fair lending issues, 2 hours of non-traditional mortgage lending, and 12 hours of undefined elective education.
If you are seeking licensure through the UT-DFI, you will need to complete instruction on 3 hours of federal law, 3 hours of ethics, which covers fraud, consumer protection, and fair lending issues, 2 hours of non-traditional mortgage lending, and 12 hours of undefined elective education.
The UT-DRE MLO Application Checklist from the NMLS can guide you through the process of becoming a licensed MLO through the UT-DRE. View UT-DRE Checklist
The UT-DFI MLO Application Checklist from the NMLS can guide you through the process of becoming a licensed MLO through the UT-DFI. View UT-DFI Checklist
MLO applicants in in Utah, whether licensing through UT-DRE or UT-DFI, must complete the SAFE 20 Hour Education course and pass the NMLS National MLO exam to begin the licensing process. Our multiple format options for the 20-hour course allow you to meet your study needs and fit your schedule. View our course and test preparation options here.
As previously mentioned, when obtaining a license through the Utah-DRE, one of the MLO License Education Requirements in Utah involves actively completing a 15-hour UT-DRE approved course, which does not require reporting to the NMLS. We are excited to inform you that My Mortgage Trainer is currently undergoing the licensing process with the UT-DRE as an approved course provider, enabling us to offer this course directly to you.
Utah’s mortgage regulation structure is intricate, involving the regulation of different activities by two distinct agencies. The Utah Division of Real Estate (DRE) primarily oversees the brokering and retail origination of closed-end residential first mortgages. If you engage in these activities, it is essential to reach out to the DRE to determine if their requirements are applicable to you.
On the other hand, a Utah-DFI license primarily caters to individuals involved in servicing residential first mortgage loans. It also encompasses individuals engaged in originating or servicing other mortgage types, such as second mortgages. If you have any doubts about whether the DFI license aligns with your needs, we encourage you to consult with your company’s licensing specialist and visit the Utah-DFI website for comprehensive information.
As mentioned previously, meeting the MLO license education requirements in Utah involves passing the NMLS National MLO Exam and acquiring your NMLS ID Number. To support you in these vital steps, we have compiled a series of informative short videos. Below, you will find a collection of videos that will walk you through obtaining your NMLS ID, scheduling the exam, and provide valuable tips to excel in the exam with confidence. Subscribe to our YouTube Channel for more great tips and industry-related news!