Mortgage licensing / Alaska

Alaska Nonprofit Organization Mortgage Exemption

company licence · NMLS AKNONPROFITEXEMPT_C · DBS

Requirements (20)

1. Step 1

   Submission of Company Form (MU1): Complete and submit the Company Form (MU1) in NMLS. This form serves as the application for the license/registration through NMLS.

   Submitted via: NMLS

2. Step 2

   Other Trade Name: If operating under a name that is different from the applicant’s legal name, that name (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). If operating under an “Other Trade Name”, upload a copy of the Alaska Business License from the Alaska Division of Corporations, Business and Professional Licensing. This document should be named AK – Non Profit Exempt - Trade Name

   Submitted via: Upload in NMLS: Under the Document Type Trade Name/Assumed Name Registration Certificates in the Document Uploads section of the Company Form (MU1).

3. Step 3

   Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1).

   Submitted via: NMLS

4. Step 4

   Primary Contact Employees: The following individuals (actual applicant employees) must be entered into the Contact Employees section of the Company Form (MU1). • Primary Company Contact. – This individual will receive all communications from Alaska regulators. Primary Consumer Complaint Contact. – Consumers will be referred to this individual by Alaska regulators.

   Submitted via: NMLS

5. Step 5

   Non-Primary Contact Employees: Alaska does not require any non-primary contacts to be listed in the Contact Employees section of the Company Form (MU1).

6. Step 6

   Bank Account: Bank account information is not required. The Bank Account section of the Company Form (MU1) can be left blank.

7. Step 7

   Disclosure Questions: Provide a complete and detailed explanation and document upload for each “Yes” response to Disclosure Questions made by the company or related control persons (MU2). See the Company Disclosure Explanations Quick Guide for instructions.

   Submitted via: Upload in NMLS in the Disclosure Explanations section of the Company Form (MU1) or Individual Form (MU2).

8. Step 8

   Qualifying Individual: The Qualifying Individual section is not required to be completed for Alaska on the Company Form (MU1).

9. Step 9

   Control Person (MU2) Attestation: Complete the Individual Form (MU2) in NMLS. This form must be attested to by the applicable control person before it is able to be submitted along with the Company Form (MU1). Any MU2 without the applicable control person's attestation will not be accepted.

   Submitted via: NMLS

10. Step 10

    Credit Report: Individuals in a position of control are NOT required to authorize a credit report through NMLS.

    Submitted via: N/A

11. Step 11

    MU2 Individual FBI Criminal Background Check Not Required Through NMLS: Direct Owners/Executive Officers, Indirect Owners, and Qualifying Individuals are NOT required to authorize a FBI criminal background check (CBC) through NMLS.

12. Step 12

    Certificate of Authority/Good Standing Certificate: Upload a State-issued and approved document (Alaska Division of Corporations, Business, and Professional Licensing), dated not more than 60 days prior to the filing of the application through NMLS that demonstrates authorization to do business in Alaska. If the applicant was organized or formed outside of Alaska, upload certified proof of authorization to do business in this state from the Alaska Division of Corporations, Business and Professional Licensing. This document should be named [AK Certificate of Authority OR AK Certificate of Good Standing].

    Submitted via: Upload in NMLS: Under the Document Type Certificate of Authority/Good Standing Certificate in the Document Uploads section of the Company Form (MU1).

13. Step 13

    Alaska Business License: Upload a current State-issued and approved Alaska Business License from the Alaska Division of Corporations, Business, and Professional Licensing. Per AS 43.70.020(a)a business license is required for the privilege of engaging in a business in the State of Alaska. This document should be named [AK Business License].

    Submitted via: Upload in NMLS: Under the Document Type Certificate of Authority/Good Standing Certificate in the Document Uploads section of the Company Form (MU1).

14. Step 14

    Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the requested applicable documentation detailed below. Original formation documents and all subsequent amendments, thereto including a list of any name changes. Not for Profit Corporation Documents requested of a corporation; and Proof of nonprofit status; Internal Revenue Service (“IRS”) 501(c)(3) designation letter; or Statement from a State taxing body or the State attorney general certifying that: (i) the entity is a nonprofit organization operating within the State; and (ii) no part of the entity’s net earnings may lawfully benefit any private shareholder or individual; or Entity's certificate of incorporation or similar document if it clearly establishes the nonprofit status of the applicant; or Any of the three preceding items described, if that item applies to a State or national parent organization, together with a statement by the State or parent organization that the applicant is a local nonprofit affiliate.

    Submitted via: Upload in NMLS: Under the Document Type Formation Document in the Document Uploads section of the Company Form (MU1). This document should be named Formation Documentation [Date of Creation (MM-DD-YYYY)].

15. Step 15

    AML/BSA Policy: Upload the most recent board approved version of Anti-Money Laundering (AML) / Bank Secrecy Act (BSA) Policy and the most recent Independent Review of the AML/BSA Program. AML/BSA Policy must address the handling of breaches in accordance with AS 45.48.010-090 & AS 45.48.400-510 AML/BSA Policy Name this document AML/BSA Policy [approval date mm-dd-yyyy]. Independent Review of AML/BSA Program Name this document AML/BSA Policy Independent Review [review date mm-dd-yyyy].

    Submitted via: Upload in NMLS: Under the Document Type AML/BSA Policy in the Document Uploads section of the Company Form (MU1).

16. Step 16

    Management Chart: Submit a Management chart displaying the applicant’s directors, officers, and managers (individual name and title). Must also identify compliance reporting, internal audit structure, mortgage loan originators and production staff. This document should be named [Company Legal Name] Management Chart. Note: If the existing uploaded management chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

    Submitted via: Upload in NMLS: Under the Document Type Management Chart in the Document Uploads section of the Company Form (MU1).

17. Step 17

    Organizational Chart/Description: Submit a chart showing (or a description which includes) the percentage of ownership of: • Direct Owners (total direct ownership percentage must equate to 100%) • Indirect Owners • Subsidiaries and Affiliates of the applicant/licensee This document should be named [Company Legal Name] Organizational Chart – Description. Note: If the existing uploaded Organizational Chart/Description already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

    Submitted via: Upload in NMLS: Under the Document Type Organizational Chart/Description in the Document Uploads section of the Company Form (MU1).

18. Step 18

    Business Plan: Upload a business plan outlining: • Executive Summary • Business Overview • Sales & Marketing • Management Team • Competitive Analysis • Financial Plan This document is required by 3 AAC 14.020(c)(11) must include a description of how the organization is compliant with AS 06.60.015(c) and 3 AAC14.020(c)(5)(7) and (9). This document should be named [Company Legal Name] Business Plan

    Submitted via: Upload in NMLS: Document Type Business Plan in the Document Uploads section of the Company Form (MU1)

19. Step 19

    Mortgage Loan Originators A list of mortgage loan originators (MLO) required by 3 AAC 14.020(c)(8) that are currently under contract with the organization (originating mortgage loans); for each MLO, the organization shall provide (A) a list of the originator's training and education; (B) the date of the originator's most recent criminal history background check and independent credit report; and (C) details of the originator's compensation plan (include if they are W-2 or 1099)

    Submitted via: Upload in NMLS: Document Type MLO List in the Additional Requirements section of the Company Form (MU1)

20. Step 20

    Consumer Complaints A list of any consumer complaints received, resolution of those complaints, and management response as required by3 AAC14.020(c)(12).

    Submitted via: Outside NMLS Please email to mortgagelending@alaska.gov

General information

Other Alaska mortgage licenses

• Mortgage Broker/Lender Branch Registration
• Mortgage Broker/Lender License
• Mortgage Loan Originator License
• All 4 Alaska licenses

Sourced from the NMLS/CSBS state licensing record, last updated April 22, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.