Mississippi Mortgage Licensing Requirements


Contents

Physical Location Required

Individual Loan Officer Licensing Required?

Testing Required to Become Loan Officer?

Part of the Nationwide Mortgage Licensing System?

License Required for Loan Modification?

No

 

Yes

 

No

Yes

No 

 

Broker Requirements:


(1) $750 non-refundable License Fee

(2) $25,000 Surety Bond

(3) Proof of 2 yrs minimal experience in mortgage business OR take examination

(4) Provide a set of fingerprints from any Law Enforcement Agency for full criminal background check

(5) 12 hrs continuing education for renewal required.

 

 

Loan Officer Requirements:


(1) 18 years of age

(2) Criminal background check

(3) Completion of pre-licensing course (24 hours minimum)

            - Exceptions: Documentation of a minimum of one (1)

      year of experience directly in mortgage lending in

      Mississippi within the two (2) years prior to the date

              of application. If the applicant has one (1) year of

              experience, but not in Mississippi, then they are

              required to complete an approved education course

              of a minimum of four (4) hours on the Mississippi

              Mortgage Consumer Protection Law. 

 


Contact Information:

Mississippi Department of Banking and Consumer Finance

501 N. West Street, 901 Woolfolk Building Suite A

P.O. Box 23729

Jackson, MS 39225-3729

Phone: 601.359.1031

Fax: 601.359.3557

Website: www.dbcf.state.ms.us (click on Mortgage Division for applications)

 


Map of Mississippi Department of Banking and Consumer Finance

 


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