West Virginia Mortgage Loan Originator License

Who is required to have this License? An individual, who for compensation or gain, or in the expectation of compensation or gain: • Takes a residential mortgage loan application • Offers or negotiates terms of a residential mortgage loan • Is a loan processor or underwriter and is an independent contractor Who does not need this License? • An individual employed (W-2) solely as a loan processor or underwriter for a licensed mortgage broker or mortgage lender and directly supervised by a licensed mortgage loan originator (MLO) • A person/entity that only performs real estate brokerage activities and is licensed or registered in accordance with West Virginia law, unless the person or entity is compensated by a lender, a mortgage broker or other MLO or by any agent of such lender, mortgage broker or other MLO • A manufactured or modular home retailer employee who performs purely administrative or clerical tasks and who receives only the customary salary or commission from the employer in connection with the sales transaction • MLOs registered in NMLS applicable to federally insured depository institutions

Temporary Authority - Applicants for a license with Temporary Authority MUST read all requirements. An immediate recommendation to deny the application as incomplete will be issued for all unresolved, outstanding, and undocumented issues related to financial responsibility and/or criminal background check. If there are any issues not fully supported by documentation uploaded to NMLS, we suggest that you do not request a filing under Temporary Authority. General Information for all applicants: Financial Responsibility: If your credit report reflects any of the following: • outstanding judgments or collection accounts (other than medical) • tax or other government liens or filings • bankruptcy within the last seven years • foreclosures or repossessions within the last three years • habitual or serious delinquencies You must provide a written explanation in either Disclosure Explanations or Document Uploads that addresses each derogatory account and includes a detailed plan of resolution, includes (if applicable) payment plans or proof of payoff, and is supported by documentation from the creditor. Alternatively, you may email the documentation to our licensing staff analysts. Individuals planning to work from their residence must abide by all provisions in WV Code §31-17A-9a relating to alternate work locations, including but not limited to privacy and data security safeguards, oversight by sponsoring lender and/or broker, and restrictions on in-person customer interaction at the alternate location. Criminal Background Check: Comprehensive documentation must be uploaded to Disclosure Explanations or Document Uploads and must include at minimum copies of court documents including the final resolution of the charge and a written explanation. International Applicant Requirements: Individuals outside the U.S. must submit comprehensive background information obtained from a third-party vendor specializing in international background reports. Reports must be translated to English and denominated in U.S. dollars, including comprehensive criminal and credit information.