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Colorado State Licensing Requirements

Contact

Division of Real Estate
Mortgage Loan Originator Program
1560 Broadway, Ste.925
Denver, CO, 80202
303-894-2166
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Education Requirements

High School Diploma or GED
20 Hours PE 
8 Hours CE

No state specific PE. May be required to complete 2 Hr DRE MLO Annual Update Course.

Highlights

Brick and Mortar State: No
Expiration: Dec. 31 annually
License Fee: $85 + $30 NMLS
 

 

Who is required to be licensed

All persons who originate a mortgage, offer to originate a mortgage, act as a mortgage loan originator, or offer to act as a mortgage loan originator.

Pre-requisites for license applications

  • Complete the online filing with the Nationwide Mortgage Licensing System, (NMLS).
  • Prior to submitting a State of Colorado application, two sets of fingerprints for a criminal history background check must be submitted: A). To the Colorado Bureau of Investigation, (CBI); B). To the FBI through the Nationwide Mortgage Licensing System, (NMLS)
  • Complete all of the required pre-licensing education and written examinations required by the Director, (State specific as well as Federal tests), before application to the State of
  • Colorado.Authorization for a credit check through the NMLS.
  • Acquisition of a Surety Bond as required by section 12-61-907, C.R.S., and in accordance with any rule of the Director that directly or indirectly addresses Surety Bond requirements.
  • Acquisition of the Errors and Omissions insurance required by section 12-61-903.5, C.R.S., and in accordance with any rule of the Director that directly or indirectly addresses Errors and Omissions insurance requirements: an official quote showing a proposed policy number and proposed beginning and ending dates with the applicants name will suffice for the application process provided the applicant, upon issuance of the official State of Colorado license, revisits their Colorado online RMS account and replaces the quote with the actual data. Failure to do so will result in an inactive license.
  •  
A Division checklist for new applicants has been created to help mortgage loan originators through the application process. Click here to view the checklist.

Need to purchase Pre-licensing or Continuing Education Courses?

Use the links below for course schedules and information about NMLS Approved Pre-licensing Education (PE) or Continuing Education (CE).

Colorado NMLS Approved Pre-licensing Education Courses

Colorado NMLS Approved Continuing Education Courses

NMLS Requirements and Fees


Processing Fees for State Licensure

Entity Initial Fee Annual Fee
Company $100 $100
Branch $20 $20
Individual $30 $30

Processing Fees for Federal Registration

Entity Initial Fee Annual Fee
Company $100 $100
Branch $60 $0
Individual $30 Jan-June
$60 July-Dec
$30 ($0 if initial registration July-Dec of same year)

Professional Standards Fees

Item Fee
Criminal Background Check Livescan $39
or
Print Card Capture $39, plus $10 Card Packet Fee

This fee is charged at each new application for licensing, or new registration request. Single charge regardless of how many licenses are applied for in a single filing.

Click here for more information about the Criminal Background Check process.
Testing $92 National Component
$69 State Component (per state)

Beginning April 1, 2013 the Uniform State Test will be included in the National Component which replaces several individual state components.

Click here for more information about the NMLS Testing process
Credit Report $15

This fee will be charged at each new application for licensing if it does not contain a credit report that is less than 30 days old. Single charge regardless of how many licenses are applied for in a single filing.

Click here for more information about the NMLS Credit Check process

Notice: The information provided on this page is not legal advice and is shared for educational purposes only. The information provided is not a complete statement of all licensing requirements, additional licensing requirements may be required by state and/or other agencies.

Other's who searched for this page also found these pages useful:

My Mortgage Trainer Home Page
My Mortgage Trainer Course Catalog
SAFE 20 Hour Pre-licensing Courses and Study Material
SAFE 7 & 8 Hour Continuing Education Courses
My Mortgage Trainer Current Webinar Schedule

My Mortgage Trainer is approved by the NMLS to deliver National Pre-licensing and Continuing Education in all 50 states. NMLS Approved Course Provider #1400080.

 

Last Updated ( Monday, 24 February 2014 )
 
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