Mortgage Brokers/Lenders, Mortgage Branch Registrations and Mortgage Loan Originators

Licensing Authority

Alaska Department of Commerce, Community & Economic Development
Division of Banking and Securities
550 W. 7th Avenue, Suite 1850
Anchorage, AK, 99501
phone: 907.269.4584
fax: 907.269.8146
email: mortgagelending@alaska.gov


Fees

Mortgage Broker/Lender

  • Application Fee $250
  • Licensing Fee $500
  • Annual Renewal Fee $500
  • Late Renewal Fee $250
  • Amendment Fees:
    • Change to name or address $50
    • Change to ownership $150
    • Change to control person $150
  • $75,000 Surety Bond

Mortgage Branch Registration

  • Application Fee $150
  • Licensing Fee $250
  • Annual Renewal Fee $250
  • Late Renewal Fee $125
  • Amendment Fees- Change of address $50

Mortgage Loan Originator

  • Application Fee $250
  • Licensing Fee $400 (includes $150 Surety Fund Fee)
  • Annual Renewal Fee $250
  • Late Renewal Fee $250

Additional Investigative Fees of $75 per hour may be required before issuance of license.

All licenses expire December 31st of the year license is issued.


Requirements

Mortgage Broker/Lender Control Persons must:

  • submit two copies of fingerprints to the Division in order to complete the required criminal history background check;
  • authorize a credit report through the NMLS Resource Center.

Mortgage Loan Originator must:

  • submit fingerprints through an NMLS approved vendor to complete a criminal history background check;
  • take and pass the National Test Component with Uniform State Content test - enrollment for the test is available through the NMLS Resource Center;
  • complete 20 hours of Pre-Licensing Education through NMLS Resource Center approved vendors prior to licensing and complete eight hours of continuing education annually thereafter prior to applying for license renewal;
  • authorize a credit report through the NMLS Resource Center;
  • be sponsored by one mortgage broker or lender licensed in Alaska.

Number of Licenses on December 31, 2013

Mortgage Broker or Lender: 220
Mortgage Branch Registrations: 212
Mortgage Loan Originators: 1,482

Last updated May 2015.