Regulatory Agency: Department of Commerce 

Division of Financial Examinations 
85 East 7th Place, Suite 500 

St. Paul, MN 55101-2198 

Ph: 651.282.9855 

Fax: 651.297.1959 




License Type(s): 
Residential Mortgage Originator 
Mortgage Servicer 

Loan Officer 




Initial Education:

The 2007 legislation added a requirement that individuals engaged in residential mortgage origination 
and making residential mortgage loans, including employees and independent contractors, must complete 15 hours 
of educational training that has been approved by the commissioner and covering state and federal laws concerning 
residential mortgage lending. This requirement has an effective date of March 1, 2008. The licensee will be required 
to assure that this requirement has been completed. Provided that the training has been approved by the
commissioner, the Department will give credit for education completed within two years prior to August 1, 2007.
Likewise, training approved by other states may qualify to satisfy at least part of the training requirement. 




CE Requirements: 

Loan Officers:  by March 1, 2008, must affirm that you have completed the mandatory 15 hours of education 
covering state and federal laws concerning residential mortgage lending.  




Renewals: 

Licenses expire on July 31 and are renewed ever 2 years thereafter in odd-numbered years 

Please Note:  The contents contained on this web page are for informational purposes only.  

State requirements often change.  Please visit your state web site for the most up-to-date information.  

This information should not be interpreted as legal advice.