Mortgage licensing / South Dakota

South Dakota Non-Residentital Mortgage Lender License

company licence · NMLS SDNONRESLENDER_C · DOB

Requirements (10)

1. Step 1

   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). The South Dakota Division of Banking does not limit the number of other trade names. However, all DBA’s must be registered with the South Dakota Secretary of State. Please provide proof the DBA name(s) are registered with the South Dakota Secretary of State. If operating under an “Other Trade Name”, upload South Dakota Certificate of Authority regarding ability to do business under that trade name. This document should be named South Dakota Trade Name – Assumed 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).

2. Step 2

   Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1) and must match the information currently on record with South Dakota Secretary of State.

   Submitted via: NMLS

3. Step 3

   AML/CTF Policy: Upload the most recent version of the Anti-Money Laundering (AML) / Countering the Financing of Terrorism (CFT) Policy and the most recent Independent Review of the AML/CFT Program. AML/CFT Policy This document should be named AML/CFT Policy [approval date mm-dd-yyyy]. Independent Review of AML/CFT Program This document should be named 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).

4. Step 4

   Business Plan: Upload a business plan outlining the following information: • Marketing strategies • Products • Target markets • Fee schedule • Operating structure the applicant intends to employ. • Statement of Business History and Current Operation This document should be named [Company Legal Name] Business Plan. Note: If the existing uploaded business plan already includes the above information, an additional document does not need to be uploaded. A company should only upload a single business plan. If state-specific material is required, this information should be added to the existing uploaded business plan.

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

5. Step 5

   Certificate of Authority/Good Standing Certificate: Upload a State-issued and approved document (typically by the Secretary of State’s office), dated not more than 60 days prior to the filing of the application through NMLS that demonstrates authorization to do business in South Dakota. This document should be named [SD Certificate of Authority OR SD 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).

6. Step 6

   Company Staffing and Internal Policies: Upload document(s) including information on staffing and internal organizational policies and procedures. If submitting multiple policies, upload and name each policy separately. The document must include the following information: • Underwriting Criteria • Collection Policies • Customer Dispute Resolutions • Information SecurityThis document should be named [Name of Policy].

   Submitted via: Upload in NMLS: under the Document Type Company Staffing and Internal Policies in the Document Uploads section of the Company Form (MU1)

7. Step 7

   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. Limited Liability Company (“LLC”): • Articles of Organization (including all amendments); • Operating Agreement (including all amendments); • IRS Form 2553 or IRS Form 8832 if S-corp treatment elected; and • LLC resolution if authority not in operating agreement. Corporation: • Articles of Incorporation (including all amendments); • By-laws (including all amendments), if applicable; • Shareholder Agreement (including all amendments), if applicable; • IRS Form 2553 if S-corp treatment elected; and • Corporate resolution if authority to complete application not in By-Laws or Shareholder Agreement, as amended, as applicable.This document should be named Formation Documentation [Date of Creation (MM-DDYYYY)].

   Submitted via: Upload in NMLS: under the Document Type Formation Document in the Document Uploads section of the Company Form (MU1).

8. Step 8

   Management Chart: Submit a Management chart displaying the applicant’s directors, officers, and managers (individual name and title). Must also identify compliance reporting and internal audit structure. 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)

9. Step 9

   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).

10. Step 10

    Personal Financial Statement: The following individuals, as specified below, on the Company Form (MU1) are required to upload a personal financial statement. If applicant is a start-up company, they must provide financial statements for any owner(s) listed in the Direct Owners and Executive Officers field in Form MU1. This document should be named [State Abbreviation] – Personal Financial Statement.

    Submitted via: Upload in NMLS: under the Document Type Personal Financial Statement in the Document Uploads section of the Individual Form (MU2).

General information

Other South Dakota mortgage licenses

• Exempt Mortgage Company Registration
• Mortgage Branch Registration
• Mortgage Brokerage License
• Mortgage Lender License
• Mortgage Loan Originator License
• All 6 South Dakota licenses

Sourced from the NMLS/CSBS state licensing record, last updated July 6, 2026. Requirements change — confirm against the state agency before filing. Not legal advice.