Louisiana Mortgage Loan Originator License

This License is required of any natural person who is an employee of a mortgage broker, mortgage lender, who is not acting as a mortgage broker or as a mortgage lender, who interviews the consumer in connection with the consumer's application for a residential mortgage loan.

1. Before submitting an Individual Form (MU4) originator application to this jurisdiction, you must first complete 20 hours of pre-licensing education, submit fingerprints, authorize a credit report through the NMLS and satisfy the testing requirements described in number 2 below. To register for the education hours, the tests, fingerprints, and authorize a credit report, you must first create a base record by submitting your personal information into the NMLS and obtaining a unique identification number. Once this is completed, you will be able to submit your test registration, register for courses and arrange with a vendor to take your fingerprints, and authorized a credit report. 2. New applicants are required to use the NMLS to submit their Individual Form (MU4). The license status will be “Pending” until the filing is reviewed, all state specific forms are submitted outside the system and all of the following requirements met. • Verification that 20 hours of pre-licensure education courses have been completed • Individual originators must satisfy one of the following three conditions: 1.) Passing score on both the National and Louisiana State components of the SAFE Test, or 2.) Passing score on both the National and Stand-alone Uniform State Test (“UST”) components of the SAFE Test, or 3.) Passing score on the National Test Component with UST Content – NMLS must indicate you are compliant with this requirement. • Fingerprints for an FBI criminal history background check are submitted through the NMLS and a criminal history report received from FBI reflecting acceptable history. (Must be processed at a ProScan location. • Authorization for a credit report • Originator must be sponsored by a licensed company unless company is exempt. • Originator must provide either a surety bond or documentation that the employer is providing surety bond coverage for the originator. 3. Each individual who originates mortgage loans and any individual who is an independent contractor working as a loan processor or underwriter is subject to the Louisiana S.A.F.E. Residential Mortgage Lending Act and must be separately authorized by filing a Form MU4 through the NMLS. 4. The company must submit a sponsorship request to the regulator for the originator only before the individual MU4 license will be approved. No sponsorship request is necessary for originators of exempt entities. Processors and/or underwriters who are employed by third part companies do not require sponsorship. 6. All fees collected through the NMLS ARE NOT REFUNDABLE. 7. The regulator will review the individual’s filing and all required documents. All notifications will be via E-mail through the NMLS and communication will be via E-mail through OFI. Make sure the email address is correct. 8. Jurisdiction-specific requirements as identified on the checklist below must be received with this checklist within 5 business days of the electronic submission of your application through the NMLS at the following: For U.S. Postal Service: Louisiana Office of Financial Institutions Non-depository Division Residential Mortgage Lending P.O. Box 94095 Baton Rouge, LA 70804-9095 For Overnight Delivery: Louisiana Office of Financial Institutions Non-depository Division Residential Mortgage Lending 8660 United Plaza Blvd, 2nd Floor Baton Rouge, LA 70809 NOTE: It is extremely important that each originator have their own e-mail address and that all e-mail addresses are current. Notifications of status changes and requests for information will only be sent to you from the NMLS. You are responsible for checking the status of your originator application on the NMLS and reading all e-mails generated by the NMLS and/or OFI. WHO TO CONTACT – For jurisdiction specific questions concerning licensure, contact Louisiana Office of Financial Institutions, Non-depository Division licensing staff by phone at 225-925-4660 or send questions via email to nmls@ofi.la.gov. THE APPLICANT/LICENSEE IS FULLY RESPONSIBLE FOR ALL OF THE REQUIREMENTS OF THE LICENSE FOR WHICH THEY ARE APPLYING. THE JURISDICTION SPECIFIC REQUIREMENTS CONTAINED HEREIN ARE FOR GUIDANCE ONLY TO FACILITE APPLICATION THROUGH THE NMLS. SHOULD YOU HAVE QUESTIONS, PLEASE CONSULT LEGAL COUNSEL. YOU ARE NOT AUTHORIZED TO ENGAGE IN ORIGINATION ACTIVITIES IN THE STATE OF LOUISIANA UNTIL YOU HAVE RECEIVED APPROVAL FROM THE LOUISIANA OFFICE OF FINANCIAL INSTITUTIONS