Find a license in the A-Z Index

Agency Name: Commerce, Minnesota Department of
Agency URL: https://mn.gov/commerce/
Agency Description: The Minnesota Department of Commerce is the chief regulator for the banking, energy, insurance, real estate, securities, telecommunications industries and also operates Minnesota's Unclaimed Property.
Agency Phone: 651-539-1500
Agency Fax: Agency URL: https://mn.gov/commerce/

Agency Address:
85 7th Place East, Suite 500

Unit Name:
Unit URL:
Unit Description:
Unit Phone: Unit Fax: Contact person(s): mortgage.commerce@state.mn.us
Unit URL:

Review:

• Minnesota uses the Nationwide Multistate Licensing System (NMLS). Company/business entities applying for the Mortgage Originator (MO) License are required to use NMLS
• Read Minn. Stat. Chapter 58 before applying for a Mortgage Originator (MO) license. Unlicensed activity may result in administrative action.

Renewal
Mortgage loan originator licenses licenses expire on December 31 of each year and are renewable on January 1 of each year after that date. The renewal fee is $500.
Renewal is done through NMLS

Reapply
If a license was not renewed, has lapsed, or was surrendered and you would like the license activated,follow the instructions at NMLS and reapply for the license.

Out-of-state
An out-of-state mortgage company does not need to physical presence in Minnesota; however, registration as a foreign corporation with the Office of the Minnesota Secretary of State may be required.

See the Office of the Minnesota Secretary of State, Business & Liens

Rules:
Statutes: 58

Residential Mortgage Originator - $1,000

Mortgage loan originator licenses licenses expire on December 31 of each year and are renewable on January 1 of each year after that date.

Length of Determination: 10-30 days.
Other Info:
Activity: Mortgage Brokers and Lenders
Residential Mortgage Originator or Servicer
License Detail URL: