Georgia Mortgage Loan Originator

This application for license is to be completed and filed by each individual applicant who intends to engage in mortgage loan origination in Georgia. Pursuant to the Georgia Residential Mortgage Act, “Mortgage Loan Originator” means an individual who for compensation or gain or in the expectation of compensation or gain takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan. Generally, this does not include an individual engaged solely as a loan processor or underwriter.

Who Is Required to Have This License? Pursuant to the Georgia Residential Mortgage Act (GRMA), located in the Official Code of Georgia Annotated (O.C.G.A.) § 7-1-1000 et. seq.), it is prohibited for any person to transact business in the state of Georgia directly or indirectly as a mortgage loan originator (“MLO”) unless the individual is licensed by the Georgia Department of Banking and Finance (“Department”), qualifies to operate under the temporary authority provisions of 12 U.S.C. § 5117, or qualifies for an exemption. If an individual engages in mortgage loan originator activity in Georgia without a license or without satisfying all of the conditions for temporary authority, both the individual and the sponsoring employer may be subject to administrative action by the Department. O.C.G.A. § 7-1-1000(22) defines "mortgage loan originator" as an individual who for compensation or gain or in the expectation of compensation or gain takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan. GRMA further defines a "residential mortgage loan" as any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling, as defined in Section 103(v) of the Truth in Lending Act, or residential real estate upon which is constructed or intended to be constructed a dwelling. Laws governing the residential mortgage industry are primarily found in the GRMA, O.C.G.A. § 7-1-1000 et. seq. Access to the entire Georgia Code is provided by LexisNexis from the Georgia General Assembly's website. Go to the O.C.G.A. Rules governing the residential mortgage industry are primarily located in Chapter 80-11. Certain application, investigation, supervision, examination and other fees are also found in Chapter 80-5. What do I need to know before I apply? The Department investigates each MLO applicant to determine whether the applicant “has demonstrated financial responsibility, character, and general fitness such as to command the confidence of the community and warrant a determination that the applicant will operate honestly, fairly, and efficiently” in his or her transaction of mortgage activity among other requirements in O.C.G.A. § 7-1-1004(e) and Department Rule 80-11-5-.01. The application process may require the applicant to submit additional information or documentation in support of his or her application. Because of the confidential nature of license applications, the Department will only communicate about an applicant's file to the applicant directly. Some information about the application process, however, may be available to an MLO’s sponsoring company through NMLS functionality. A criminal background increases the difficulty of making a favorable finding on an application. No individual that has been convicted of or entered a plea of guilty or nolo contendere to a felony (a) within the previous seven years or (b) at any time, if such felony is a disqualifying crime as defined by O.C.G.A. § 7-1-1007(7.1) is eligible to be an MU2/control person of a licensee unless the felony has been remedied pursuant to O.C.G.A. § 7-1-1004(i). 'Disqualifying crime' means any felony, as defined in Code Section 16-1-3, involving conversion, theft, money laundering, bribery, dishonesty, false statements or omissions, perjury, extortion, breach of trust, forgery, counterfeiting, embezzlement, insider trading, tax evasion, kickbacks, identity theft, cyber attacks, social engineering, fraud, including but not limited to check fraud, credit card fraud, mortgage fraud, medical fraud, corporate fraud, bank account fraud, payment (point of sale) fraud, currency fraud, bank fraud, and securities fraud, or a felony directly related to the financial services business. Pre-licensure Education: Prior to submission of the application, complete at least 20 hours of NMLS-approved pre-licensure education (PE) courses. Note: For reapplications, Georgia requires completion of CE in the last year the license was in an approved status. O.C.G.A. § 7-1-1004(e)(5). Pre-licensure education will expire after three years without a valid mortgage loan originator license or federal registration. Rule 80-11-5.04. Testing: Passing results on the National Test Component with Uniform State Content are required. Note: Unexpired passing resultson both the National and GeorgiaState components of the SAFE Test, or the National and Stand-alone UST components of the SAFE Test will also be accepted. NOTE: Applicants that fail to complete and upload a Georgia Mortgage Loan Originator Applicant Affidavit will be considered incomplete and subject to administrative withdrawal. Incomplete applications may be administratively withdrawn by the Department within 5 business days of submission if the application is incomplete or may be issued a Notice of Intent to Deny. Application fees are non-refundable. License Certificates If your application for licensure is approved, you will receive a copy of your license certificate from the Department via email. A copy of your license certificate can also be obtained from the Department’s website. Please note that the Department’s system is not connected to the NMLS, so there is at least a one business day delay in the approval e-mail from our system. Please check your spam folder if you do not receive the Department's approval e-mail within two business days.