How to get Idaho Mortgage Loan Originator Prelicensing Education PE and ID Continuing Education CE Requirements Met
1. Get your NMLS Number
If you have not done so already, it takes 1 -2 minutes to get your NMLS number. https://www.statemortgageregistry.com/Public/Login.aspx Click "Request an account" Click "Individual" We try to make all of these things easier, what questions may we answer? Use the chat feature on the bottom right corner of every web page to get answers now!
2. Get and complete your ID 20 Hour Prelicense Education PE Course Bundle
3. Pass the NMLS Nation Component Exam with Uniform State Test using our included test preparation program and add other states by getting and completing state PE courses
4. Apply for your Idaho MLO License
Questions about qualifications or any part of the process? Use the chat feature on the bottom right or click here and get answers fast!
Idaho Prelicensing Requirements
In addition to the initial 20 hours of SAFE education, Idaho requires 2 hours of state law instruction. Click here to get your Idaho MLO Online 20 hour course If you haven't completed your initial 20 hours of SAFE education
NOTE: An individual who completed 20 hours pre-licensure education pursuant to 12 U.S.C. 5104(c) must retake 20 hours of pre-licensure education in order to be eligible for state mortgage loan originator licensure if they:
(1) fail to acquire a valid state license or federal registration as a mortgage loan originator within three years from the date of federal compliance with 12 U.S.C. 5104(c) ; or
(2) fail to acquire a valid state license or federal registration as a mortgage loan originator within three years from the last date of licensure or registration as a mortgage loan originator.
Idaho Continuing Education Requirements
If you are already a licensed MLO in the state of Idaho you don't need to take PE (unless you have been instructed by the NMLS to do so). You do need to complete at least 8 Hours of NMLS approved continuing education which includes 1 hour of Idaho state specific law content, every year following the year of completion of your initial 20 hour course. Check out our Idaho Continuing Education page for more details. Click here to get your ID MLO 8 Hour CE Course Online.
Who Is Required To Have an ID MLO License?
Any person, other than an exempt person, who for compensation or gain, or the expectation of compensation or gain, either directly or indirectly, takes a residential mortgage loan or modification application, or offers or negotiates terms of a residential mortgage loan or mortgage loan modification. A loan processor or underwriter who is an independent contractor, and/or a W2 employee of an Exempt Entity Registrant.
Reference to Title 26 Chapter 31 Idaho Residential Mortgage Practices Act. Idaho Department of Finance does not issue paper licenses for this license type.
Idaho Temporary Authority to Operate (TA)
If you fail to provide a complete application package within 60 days of notification of application deficiencies, your submission will be deemed withdrawn and void and any fees paid will be forfeited. Failure to provide a complete application (which includes a complete disclosure section with explanations and supporting documents) within the specified time under Idaho Code 26-31-305 (7) is considered a withdrawal by the applicant. ANY EXISTING TA WILL BE IMMEDIATELY TERMINATED. No extensions will be granted, and TA cannot be reinstated once terminated. Questions may be directed to (208) 332-8002 or MLO@finance.idaho.gov. Items required to be submitted outside of NMLS may be emailed or delivered to the addresses provided below. Your NMLS ID number and name must be on any communication.
Military Member, Veteran, Spouse Priority
An individual that is a current military member, veteran, or spouse of a military member or veteran, is entitled to an expedited application review once required verification documentation has been uploaded and notification to the Department of Finance has been received by emailing a copy of this checklist to mlo@finance.idaho.gov. To qualify, the military member or veteran must have served on active duty for at least 180 consecutive days and if discharged, the discharge must be an honorable discharge or general discharge under honorable conditions. Refer to the checklist item below for required documentation to be uploaded. Additionally, if you hold a current, valid and unrestricted active mortgage loan originator license in another state or jurisdiction, without any disciplinary, criminal or enforcement actions, you may be eligible for a license while completing any additionally-required Idaho application requirements.
Idaho Mortgage Regulator Contact Information
Contact Consumer Finance licensing staff by phone at (208) 332-8002 or send your questions via email to mlo@finance.idaho.gov for additional assistance.
For U.S. Postal Service: Idaho Department of Finance, Consumer Finance Bureau, PO Box 83720, Boise, ID 83720-0031
Overnight Delivery , Idaho Department of Finance, Consumer Finance Bureau, 550 West State St. Boise, ID 83702-0031
Questions may be directed to (208) 332-8002 or MLO@finance.idaho.gov.
Idaho MLO NMLS Checklist for information on ID MLO license https://nationwidelicensingsystem.org/slr/PublishedStateDocuments/ID-Mortgage-Loan-Originator-New-Application-Checklist.pdf
Idaho Mortgage Company Checklist: https://nationwidelicensingsystem.org/slr/PublishedStateDocuments/HI-MLO-New-App-Checklist.pdf
How much does an Idaho ID MLO License cost? $381.25 for 2022
NMLS Initial Processing Fee: $30
ID License/Registration Fee: $100
Recovery Fund Fee (this is in lieu of a surety bond)
ID Application Fee: $200
Credit Report: $15 Note: The same credit report can be used for any existing or additional licenses for up to 30 days.
FBI Criminal Background Check: $36.25