Steps to Get a Vermont MLO License – Mortgage Loan Originator, Officer, Broker.
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Pre-licensure Education: Complete 20 hours of NMLS approved pre-licensure education courses. At least 2 hours of the 20 NMLS approved pre-licensure education courses must be VT specific education courses. NMLS must indicate you are compliant with this requirement. We currently do not offer the state specific hours for this state. You can complete your 20-hour core course with us and will need to complete your state hours with another provider.
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Testing: Must satisfy one of the following three conditions:
1.) Passing score on both the National and VT State components of the SAFE Test or
2.) Passing score on both the National and Stand-alone UST components of the SAFE Test, or
3.) Passing score on the National Test Component with Uniform State Content.
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NMLS Criminal Background Check: Authorization for an FBI criminal history background check to be completed in NMLS.
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Vermont MLO Credit Report: Authorization for a credit report must be completed. Upon initial authorization, you are required to complete an Identity Verification Process (IDV).
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Disclosure Questions: Upload complete details of all events or proceedings for each “Yes” response to the Disclosure Questions on Form MU4.
Vermont MLO Company Sponsorship: A sponsorship request must be submitted by your employer before your application request is approved. Note: that your sponsoring employer must be licensed in Vermont. The business address on the originator’s Form MU4 must match the address of the registered location on the license certificate of the sponsoring entity and must be within a reasonable commuting distance of the originator’s residence.
