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State Licensing

 

Delaware State Licensing Requirements

Contact

Office of the State Bank Commissioner
555 E. Loockerman St Suite 210
Dover, DE 19901
302-739-4235

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Education Requirements

High School Diploma or GED
20 Hours Pre-licensing Education
8 Hours Continuing Education

Delaware does not have any state specific education requirements other than testing.

Highlights

Brick and Mortar State: No
Expiration: Dec. 31 annually
License Fee: $250 +$30 NMLS
 

 

Who is required to be licensed

Individuals who deal directly with customers who are seeking mortgage loans and solicit, negotiate, explain or finalize the terms of the loan.  “Soliciting” means the discussion of a mortgage loan product or products with a customer or potential customer, but does not include the taking of customer information or referral of a customer or the customer’s information to a person engaged in mortgage origination.  While the State of Delaware currently licenses businesses that employ loan originators (lenders licensed under Chapter 22 of Title 5, and mortgage loan brokers licensed under Chapter 21 of Title 5) all non-exempt individuals who engage in mortgage loan originating must now be licensed irrespective of how they are compensated.

Pre-requisites for license applications

  • 20 hours of NMLS approved pre-licesning education
  • Passing score on both the National and State components of the MLO SAFE Test
  • Fingerprints and FBI criminal history background check
  • Authorization for credit report
  • Proof of surety bond coverage or written confirmation that the employer is providing coverage through its surety bond. Employer's confirmation form is available on www.banking.delaware.gov
All Delaware licensed mortgage loan originators will be subject to an annual $500 supervisory assessment, which will be billed by the Office of the State Bank Commissioner in July of each year and is due by August 1st each year.

 


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).

Delaware NMLS Approved Pre-licensing Education Courses

Delaware 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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