South Dakota Mortgage Branch Registration

Who is required to have this license? This license is required for any branch that who, for valuable consideration, originates, sells, or services mortgages, or holds himself, herself, or itself out as a person who, for valuable consideration, originates, sells, or services mortgages. This license should only be applied for by a company that also holds or is applying for South Dakota Mortgage Lender License, South Dakota Non-Residential Mortgage Lender License, and South Dakota Mortgage Brokerage License. SDCL 54-14-14 Any applicant for licensure or registration shall submit to the director an application on forms prescribed by the division. The forms shall include, at a minimum, all addresses at which business is to be conducted, the names and titles of each director and principal officer of the business, and a description of the business activities and experience of the applicant. Activities Authorized Under This License This license authorizes the following activities… • Commercial mortgage brokering or lending • First mortgage brokering • First mortgage lending • First mortgage servicing • High cost home loans • Home equity lending/lines of credit • Lead generation • Manufactured housing financing • Master servicing • Mortgage loan modifications • Mortgage loan purchasing • Rent-to-own • Reverse mortgage brokering • Reverse mortgage lending • Reverse mortgage servicing • Second mortgage brokering • Second mortgage lending • Short sale • Subordinate lien mortgage servicing • Third party first mortgage servicing • Third party mortgage loan processing • Third party mortgage loan underwriting • Third party subordinate lien mortgage servicing South Dakota does not issue paper licenses for this registration.