Individual New Application
Agency Requirements
MI
MICHIGAN MORTGAGE LOAN ORIGINATOR LICENSE
This document includes instructions for an individual new application request.
Total license costs: $280 including the NMLS processing fee. A $15 fee for a credit report will be added if
one has not been authorized through NMLS in the past 30 days. You will also pay an additional $36.25 if
you authorize a criminal background check at time of application. Fees collected through NMLS ARE
NOT REFUNDABLE.
A sponsorship request must be submitted by your employer before your application request will be
approved.
Applicants must provide a surety bond. There are two surety bond options:
1) Individual MLO Surety Bond – form FIS-2135
2) Company MLO Surety Bond – form FIS-2137
Each bond form includes specific instructions for completion, including coverage amounts.
Use the checklist below to complete the requirements for Michigan. 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 Individual Form Filing
in 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.
Agency specific requirements marked Attached on the checklist below must be received with this
checklist within 5 business days of the electronic submission of your application through NMLS at the
following:
For U.S. Postal Service:
For Overnight Delivery:
Department of Insurance and Financial Services
Department of Insurance and Financial Services
Consumer Finance Section
Consumer Finance Section
P.O. Box 30220
530 W. Allegan St., 7
th
Floor
Lansing, MI 48909-7720
Lansing, MI 48933
Updated: 3/31/2016
Page 1 of 3
Individual New Application
Agency Requirements
MI
MICHIGAN MORTGAGE LOAN ORIGINATOR LICENSE
This document includes instructions for an individual new application request.
Total license costs: $280 including the NMLS processing fee. A $15 fee for a credit report will be added if
one has not been authorized through NMLS in the past 30 days. You will also pay an additional $36.25 if
you authorize a criminal background check at time of application. Fees collected through NMLS ARE
NOT REFUNDABLE.
A sponsorship request must be submitted by your employer before your application request will be
approved.
Applicants must provide a surety bond. There are two surety bond options:
1) Individual MLO Surety Bond – form FIS-2135
2) Company MLO Surety Bond – form FIS-2137
Each bond form includes specific instructions for completion, including coverage amounts.
Use the checklist below to complete the requirements for Michigan. 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 Individual Form Filing
in 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.
Agency specific requirements marked Attached on the checklist below must be received with this
checklist within 5 business days of the electronic submission of your application through NMLS at the
following:
For U.S. Postal Service:
For Overnight Delivery:
Department of Insurance and Financial Services
Department of Insurance and Financial Services
Consumer Finance Section
Consumer Finance Section
P.O. Box 30220
530 W. Allegan St., 7
th
Floor
Lansing, MI 48909-7720
Lansing, MI 48933
Updated: 3/31/2016
Page 1 of 3
NMLS Individual Unique ID Number: _______________________________
Applicant’s legal name:
______________________________________
Applicant’s email address:
______________________________________
Applicant’s phone number:
______________________________________
FILED
NOT
MICHIGAN MORTGAGE LOAN ORIGINATOR LICENSE
IN
ATTACHED
APPLICABLE
NMLS
Pre-licensure Education: Complete 20 hours of NMLS approved pre-
licensure education courses, which shall include 2 hours of Michigan
N/A
N/A
specific law – NMLS must indicate you are compliant with this requirement.
Testing: Must satisfy one of the following three conditions:
1.) Passing score on both the National and Michigan State components of
the SAFE Test, or
2.) passing score on both the National and Stand-alone UST components of
the SAFE Test, or
N/A
N/A
3.) passing score on the National Test Component with Uniform State
Content
– NMLS must indicate you are compliant with this requirement.
Criminal Background Check: Authorization for FBI criminal history
background check to be completed in NMLS.
Obtain fingerprints immediately upon request for licensure so that
results can be received and reviewed by our office.
N/A
If known felony convictions, a detailed explanation will be required to
be mailed directly to the department with supporting court
documentation.
Credit Report: Authorization for a credit report must be completed in
NMLS. Individuals will be required to complete an Identity Verification
Process (IDV).
If known outstanding derogatory credit items exist (past dues,
collections, judgments, liens, etc.), provide the department with a
N/A
detailed explanation along with supporting documentation (i.e.
evidence of paid in full or settlement, approved payment plan along
with proof of payments made, disputes filed with credit reporting
agency(ies).
Disclosure Questions: Include a detailed explanation for any “Yes”
response. Upload a copy of any applicable orders or supporting documents
in NMLS (i.e. bankruptcy discharge, Regulatory Action orders)
N/A
See the
Individual Disclosure Explanations Quick Guide
and the
Disclosure
Explanations - Document Upload Quick Guide
for instructions.
Updated: 3/31/2016
Page 2 of 3
FILED
NOT
MICHIGAN MORTGAGE LOAN ORIGINATOR LICENSE
IN
ATTACHED
APPLICABLE
NMLS
Individual MLO Surety Bond: Provide an original, signed surety bond
form
FIS 2135
with Power of Attorney. Name on bond must match name
on NMLS.
OR
Company MLO Surety Bond: Sponsoring Company provides an original,
signed surety bond form
FIS 2137
with Power of Attorney. Name on bond
N/A
N/A
must match name filed with the Michigan Corporation Division including all
assumed names to be used in Michigan. Include a list of MLOs to be
covered by the bond (MLO name and NMLS number).
OR
If applicant is to be added to existing Company MLO Surety Bond, sponsor
must submit a request that includes the following: Company name, surety
bond number, MLO name, and MLO NMLS number. Submit request via
email to
difs-mlobonds@michigan.gov
The regulator will review the filing and all required documents and communicate with you through NMLS.
Applicants who have not completed all professional requirements and cleared all deficiencies
within 21 days
of the deficiency being set through NMLS will be considered withdrawn by the applicant and will be placed in a
Withdrawn-Application Abandoned status.
WHO TO CONTACT – Contact Consumer Finance Section via phone at (877) 999-6442 or send your
questions via e-mail to difs-fin-info@michigan.gov for additional assistance.
THE APPLICANT IS FULLY RESPONSIBLE FOR ALL OF THE REQUIREMENTS OF THE LICENSE FOR WHICH
THEY ARE APPLYING. THE AGENCY SPECIFIC REQUIREMENTS CONTAINED HEREIN ARE FOR GUIDANCE
ONLY TO FACILITATE APPLICATION THROUGH NMLS. SHOULD YOU HAVE QUESTIONS, PLEASE CONSULT
LEGAL COUNSEL.
Updated: 3/31/2016
Page 3 of 3