Alaska Mortgage Broker/Lender Branch Registration
branch licence · NMLS AKBROKERLENDER_B · DBS
Requirements (6)
Step 1
Submission of Branch Form (MU3): Complete and submit the Branch Form (MU3) in NMLS. This form serves as the application for the license through NMLS. [3 AAC 14.425]Submitted via: NMLS
Step 2
Other Trade Names: Any Other Trade Name listed on the MU3 must be covered by an Other Tade Name License held by the Mortgage Broker/Lender Licensee prior to requesting licensure for a Branch. If operating under a name that is different from the Licensee’s legal name, under 3 AAC 14.059, that fictious name “Trade Name”, “Assumed Name” or “DBA” must be listed under the Other Trade Names section of the MU3. A company may hold a total of 6 Other Trade Names. An Alaska Business License from the Alaska Division of Corporations, Business, and Professional Licensing regarding privilege granted to do business under that trade name.Submitted via: NMLS
Step 3
Branch Manager: A Branch Manager as defined under 3 AAC 14.990(1) as an individual who oversees the business operations of a branch office. • Each licensed Branch location must have a Branch Manager designated. • A Branch Manager may not be the Branch Manager for more than one location.Submitted via: NMLS
Step 4
Branch Manager (MU2) Attestation: • Complete the Individual Form (MU2) in NMLS. The applicable control person must attest to the accuracy of this form before it is associated to the MU3. MU2, at a minimum, shall contain the residential history, employment history (including period when not actively employed) and other business information for the 10 years preceding the submission of the request for licensure. Note: Foreign nationals, individuals who do not reside in the US, or individuals who have lived outside the US in the past 10 years must submit criminal background check for all countries the individual has lived in, translated into English, prior to applying for licensure.Submitted via: NMLS
Step 5
Credit Report • Individuals in a position of branch manager must authorize a credit report through NMLS. Individuals must complete an Identity Verification Process (IDV) along with an individual attestation before filing a license request for your company through NMLS. This authorization happens with the association of MU2 as part of MU3.Submitted via: NMLS
Step 6
Credit Report Explanations • Upload this document in the Credit Report Explanations section of Document Uploads of the affected MU2 in NMLS. Submit a line by line, detailed letter of explanation of all derogatory credit accounts along with proof of payoffs, payment arrangements and evidence of payments made, or evidence of any formal dispute filed (documents must be dated). Accounts to address include, but are not limited to: • collections items, • charge offs, • accounts currently past due, • accounts with serious delinquencies in the last 3 years, • repossessions, • loan modifications, etc. Note - Items regarding bankruptcy, foreclosure actions, outstanding judgments or liens, or delinquent child support payments should be addressed in the Disclosure Explanations section of the affected MU2.Submitted via: NMLS
General information
Who is required to have this license?
The mortgage licensee that sponsors the mortgage loan originator shall register the mortgage loan originator's home or other location where the majority of origination is done, as a branch office
This license should only be applied for by a company that also holds an Alaska Mortgage Broker/Lender License.
See Chapter 06.60 Alaska Secure and Fair Enforcement for Mortgage Licensing Act of 2010 and Alaska Administrative Code: Title 3, Chapter 14 for licensing authority.
Activities Authorized Under This License
First mortgage brokering, second mortgage brokering, first mortgage lending, second mortgage lending, foreclosure consulting/foreclosure rescue, home equity/lines of credit, reverse mortgage activities, high cost home loans, third party mortgage loan processing, third party loan underwriting, manufactured housing financing, lead generation, and mortgage loan modifications
Prerequisites for Branch License Applications
• A Branch Manager must demonstrate financial responsibility, as a credit score of 600 or higher is required for licensure, under 3 AAC 14.063
• A Branch Manager may not have had any mortagage related license revoked in any governmental jurisdiction, under AS 06.60.060(2)(A)
• A Branch Manager may not have been found guitly of, plead guilty or nolo contendere (no contest) to any felony within seven (7) years preceding the date of application, under AS 06.60.060(2)(B)
Alaska License/Registration Fee: $300
Alaska Application Fee: $200
NMLS Initial Processing Fee: $20
Credit Report Fee: $15
FBI Criminal Background Check Fee: $36.25
Fees collected through NMLS are NOT REFUNDABLE
Other Alaska mortgage licenses
- Mortgage Broker/Lender License
- Mortgage Loan Originator License
- Nonprofit Organization Mortgage Exemption
- All 4 Alaska licenses
Sourced from the NMLS/CSBS state licensing record, last updated May 5, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.