Reglith

Mortgage licensing / Vermont

Vermont Mortgage Loan Originator License

individual licence · NMLS VTORIGINATOR_I · DFR

This license is S.A.F.E. compliant and is required on or before July 1, 2010 of any individual who for compensation or gain or in the expectation of compensation or gain: (i) takes a residential mortgage loan application; or (ii) offers or negotiates terms of a residential mortgage loan.

Requirements (5)

  1. Step 1

    Sponsorship: A sponsorship request must be submitted by your employer before your application request is approved. Note: that your sponsoring employer must be licensed in Vermont.

    Submitted via: NMLS

  2. Step 2

    The Individual must grant Vermont authorization to view the CBC results at the time the CBC is requested. Vermont cannot view CBC results that are generated BEFORE Vermont has been granted access. If results are generated before Vermont is granted access, Vermont cannot view the results and the MU2 individual will be required to request and pay for another CBC.

    Submitted via: NMLS

  3. Step 3

    International Criminal Background Check Requirements: Any natural person who is required to submit an FBI Criminal Background Check and does not or has not resided in the US for at least the last 10 consecutive years, must provide an investigative background report prepared by an acceptable search firm and submitted directly to the Department by the search firm. At a minimum, the report must contain the following: • Civil court and bankruptcy court records for the past 10 years, including a search of the court data in the country(ies), states, towns where the individual resided and worked and in contiguous areas. • Criminal records for the past 10 years, including felonies, misdemeanors and violations including a search of court data in the countries, states, towns, where the individual resided and worked and in contiguous areas. • A comprehensive credit report/history prepared by an independent third party credit reporting agency in the country where the individual resides/resided. Note: If the report is issued in a language other than English, please attach a translation.

    Submitted via: Email to DFR.Licensing@vermont.gov

  4. Step 4

    Identifying Information: Applicants must provide their full legal name (first, middle, and last) as it appears on official documentation. Acceptable forms of identification include a current, unexpired government-issued ID, such as a driver’s license, passport, or birth certificate.

  5. Step 5

    Disclosure Explanations: In the Disclosure Explanations section of the Individual (MU2), provide complete written details fully disclosing events or proceedings for all “Yes” answers to any of the Disclosure questions for the qualifying individual/branch manager. Details should include, as applicable: date of action; docket or case number; name and location of court; and current status. Upload copies of any applicable orders or supporting documents in the Disclosure Explanations section of the Individual (MU2).

General information

Who is required to have this license? Any natural person who for compensation or gain or in the expectation of compensation or gain: (a) takes a residential mortgage loan application or (b) offers or negotiates terms of a residential mortgage loan or (c) represents to the public through advertising or other means of communicating that the person can or will perform the services in (a) or (b). Such person must be employed and sponsored by one, and not more than one, Vermont licensed lender, Vermont licensed mortgage broker, or Vermont licensed loan servicer. A sole proprietor licensed as a mortgage broker or mortgage lender by the Vermont Banking Division is required to be licensed as mortgage loan originator in Vermont prior to engaging in mortgage loan origination activities. No individual may act as an originator for more than one licensee. A loan processor or underwriter who is an independent contractor. Who does not need this license? The following is a partial list of exceptions. For a complete list of exceptions, please refer to 8 V.S.A. § 2201(d) • An individual engaged solely as a loan processor or underwriter who performs clerical or support duties as an employee of and at the direction of and subject to the supervision and instruction of a person licensed, or exempt from licensing under Title 8, V.S.A. chapter 73, and who does not solicit borrowers, accept applications or negotiate terms of residential mortgage loans on behalf of his/her employer. • A person who only performs real estate brokerage activities, unless compensated in addition to the payment received for real estate brokerage activity. • A person solely involved in extensions of credit relating to timeshare plans. • Mortgage loan originators who are employees of: an institution regulated by the Farm Credit Administration, a depository institution, or a subsidiary that is owned and controlled by a depository institution and regulated by a federal banking agency; and who are registered and maintain a unique identifier through the NMLSR. A sponsorship request must be submitted by your employer before your application request is approved. Note: that your sponsoring employer must be licensed in Vermont. The business address on the originator’s Form MU4 must match the address of the registered location on the license certificate of the sponsoring entity and must be within a reasonable commuting distance of the originator’s residence. Pre-licensure Education: Complete 20 hours of NMLS approved pre-licensure education courses. Effective July 1, 2013: At least 2 hours of the 20 NMLS approved pre-licensure education courses must be VT specific education courses.– NMLS must indicate you are compliant with this requirement. Note: Must be completed during the 3 years immediately preceding the date of application. Testing: Must satisfy one of the following three conditions: 1. Passing score on both the National and VT State components of the SAFE Test or Effective July 1, 2013: 2. Passing score on both the National and Stand-alone UST components of the SAFE Test, or 3. Passing score on the National Test Component with Uniform State Content – NMLS must indicate you are compliant with this requirement . Use the checklist below to complete the requirements for Vermont Department of Financial Regulation. The checklist provides instructions and requirements for information to be entered in NMLS, the documents that must be uploaded into NMLS, as well as the documents that must be sent outside NMLS. For help with the NMLS application, see the Quick Guide for submitting a complete Individual Form through NMLS. Agency specific requirements marked Filed in NMLS must be completed in NMLS; this information will not be viewable to the agency until the application has been submitted through NMLS.

Other Vermont mortgage licenses

Sourced from the NMLS/CSBS state licensing record, last updated August 26, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.

Stop missing the rule that costs you a loan.