What is a mortgage loan originator?

A mortgage loan originator is an individual who takes a residential mortgage loan application and offers or negotiates terms of a residential mortgage loan for compensation or gain. The term comes from the SAFE Act of 2008. It covers both bank employees, who register federally, and non-bank originators, who must hold a state license. People performing purely administrative or clerical tasks fall outside the definition.

A mortgage loan originator is an individual who, for compensation or gain or in the expectation of compensation, takes a residential mortgage application or offers to negotiate the terms of a residential mortgage loan. In Alabama, an MLO must be licensed under the state's Secure and Fair Enforcement for Mortgage Licensing Act unless exempt, such as employees of banks and credit unions, who register instead.

A mortgage loan originator is any individual who, for compensation or the expectation of compensation, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan for a dwelling located in Alaska. Alaska requires these individuals to hold the Mortgage Loan Originator license, which also covers reverse mortgage activities, mortgage loan modifications, and third-party loan processing and underwriting.

A mortgage loan originator, called a loan officer in Arkansas, is an individual who receives compensation or gain from a mortgage broker or mortgage banker for soliciting or accepting mortgage loan applications, negotiating or offering to negotiate loan terms or conditions, or offering or negotiating loan modifications. Arkansas requires this individual to hold a loan officer license issued by the Securities Commissioner under the Fair Mortgage Lending Act.

A mortgage loan originator (MLO) is an individual who, for compensation or gain, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan. In California the loan must be primarily for personal, family, or household use and secured by a mortgage or deed of trust on a dwelling of 1 to 4 units, including condominiums, cooperatives, and mobile homes used as residences.

A mortgage loan originator (MLO) is an individual who for compensation or gain takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan. Connecticut law excludes individuals engaged solely as loan processors or underwriters, real estate licensees acting within their license, and individuals who solely renegotiate existing loans. A licensed MLO in Connecticut may not act as a mortgage loan originator for more than one person at the same time, and the license is not effective without sponsorship by a licensed company.

A mortgage loan originator is an individual who deals directly with customers seeking residential mortgage loans and solicits, negotiates, explains, or finalizes the terms of the loan. Under Delaware's SAFE Act (Title 5, Chapter 24), anyone in this role must obtain and annually maintain an MLO license from the State Bank Commissioner before working on loans secured by dwellings in Delaware, regardless of how they are compensated.

A mortgage loan originator (MLO) is an individual who, for compensation or gain, takes a residential mortgage loan application, offers or negotiates the terms of a residential mortgage loan, or solicits or offers to solicit a mortgage loan on a borrower's behalf. DC law requires any person performing these activities to hold a license and maintain a unique NMLS identifier unless an exemption applies (D.C. Code §§ 26-1102, 26-1103).

In Florida, a mortgage loan originator is an individual who, for compensation or gain, solicits a mortgage loan, accepts an application for one, or negotiates the terms or conditions of a new or existing mortgage loan for a borrower or lender. The term also covers anyone required to be licensed under the S.A.F.E. Mortgage Licensing Act of 2008. An employee whose duties are limited to physically handling or transmitting a completed application form does not need the license.

A mortgage loan originator (MLO) is an individual who, for compensation or gain, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan. "Taking an application" means receiving a request or response to a solicitation for the purpose of deciding whether to extend a loan offer; it does not include the mere physical handling or transmission of a form.

A mortgage loan originator is any person, other than an exempt person, who takes a residential mortgage loan or loan modification application, or offers or negotiates its terms, for compensation or the expectation of compensation. In Idaho the term also covers a loan processor or underwriter who is an independent contractor or a W2 employee of an Exempt Entity Registrant. Natural persons who conduct origination activities for an Idaho-licensed mortgage broker or lender must hold the Mortgage Loan Originator License.

A mortgage loan originator (MLO) is an individual who, for compensation or gain, takes a residential mortgage loan application, or offers or negotiates the terms of a residential mortgage loan. In Illinois, everyone meeting that definition must be licensed, including owners of companies that hold Illinois residential mortgage licenses. Each MLO may be employed by only one Illinois residential mortgage licensee at a time.

A mortgage loan originator is an individual who, for compensation or gain, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan (Iowa Code 535D.3(8)). Taking an application includes any communication that solicits a loan application or requests application-type information. Real-estate-brokerage-only individuals and servicer loss-mitigation employees are excluded from the definition.

A mortgage loan originator (MLO) is an individual who takes a residential mortgage loan application and offers or negotiates its terms for compensation; the Kansas definition appears at K.S.A. 9-2201(u). Kansas requires an originator to register with the Office of the State Bank Commissioner (OSBC), maintain a valid unique identifier from the Nationwide Multistate Licensing System (NMLS), and conduct mortgage business for only one licensed mortgage company at a time. The sponsoring company is responsible for all mortgage business the originator conducts on its behalf.

A mortgage loan originator is a natural person who takes residential loan applications and discusses or negotiates the rates, terms, and conditions of a mortgage loan with a borrower. Kentucky law bars anyone from acting as a mortgage loan originator without registering with the Department of Financial Institutions and maintaining a valid unique identifier in the Nationwide Multistate Licensing System (NMLS). A loan originator may provide loan origination services to only one mortgage company or broker at a time.

A mortgage loan originator is an individual who takes residential mortgage loan applications and offers or negotiates the terms of those loans. In Louisiana, a person engaged in residential mortgage lending activity must hold an originator license, or a lender, broker, or servicer license, plus a unique identifier through the Nationwide Multistate Licensing System (NMLS), unless exempt. The Louisiana Office of Financial Institutions issues these licenses.

A mortgage loan originator (MLO) is an individual who, for compensation or gain, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan. Maine's statutory definition, in Title 9-A, Section 13-102(7), matches the federal SAFE Act definition.

A mortgage loan originator (MLO) is an individual who, for compensation or gain or in the expectation of it, takes a loan application or offers or negotiates the terms of a mortgage loan. Maryland's definition mirrors the federal SAFE Act. Certain roles are excluded, such as an individual acting solely as a loan processor or underwriter, or a licensed real estate broker performing only brokerage activity. A registered MLO employed by a bank or credit union is distinct from a state-licensed MLO.

A mortgage loan originator (MLO) is an individual who, for profit or gain, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan. The Michigan Department of Insurance and Financial Services (DIFS) licenses and regulates MLOs under the Mortgage Loan Originator Licensing Act 75 of 2009. MLOs at non-bank mortgage companies must be state licensed, while employees of banks and credit unions follow the federal registration path instead.

A mortgage loan originator (MLO) is an individual who, for compensation or gain, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan on a dwelling in Minnesota. Minnesota requires MLOs to hold a license under Chapter 58A and to be employed and supervised by a company licensed or exempt under Chapter 58.

A mortgage loan originator (MLO) is an individual whose job responsibilities include direct contact with borrowers during residential loan origination. That covers soliciting, negotiating, acquiring, arranging, or making mortgage loans, assisting with loan applications, quoting rates or terms, and providing disclosures. An MLO in Mississippi must hold a state license through NMLS, or a federal registration if employed by a bank or credit union, and must maintain a valid NMLS unique identifier.

A mortgage loan originator is a licensed professional who takes residential mortgage applications and guides borrowers from preapproval through closing. The MLO does not decide whether a loan is approved; underwriting makes that decision. Under Montana law, a person who regularly engages in the business of originating residential mortgage loans must be licensed through the NMLS unless exempt.

A mortgage loan originator is any individual who, for compensation or gain, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan. In Nebraska the definition also covers people who solicit consumers to submit mortgage applications, and independent-agent loan processors and underwriters. These individuals must be licensed through the Nebraska Department of Banking and Finance unless a specific exemption applies.

A mortgage loan originator (MLO) is a natural person who takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan for compensation or other gain. Nevada requires an MLO license for this activity even when the loans are for commercial real estate (NRS 645B.0127). The definition also covers independent-contractor loan processors tied to a mortgage company and people who take applications for manufactured-home loans on behalf of NRS chapter 675 installment lenders.

A mortgage loan originator (MLO) is an individual who takes a mortgage application or offers, negotiates, solicits, arranges, or finds a mortgage loan for direct or indirect compensation, or in expectation of it. Under New Hampshire law, the term also covers anyone who assists a consumer in obtaining a mortgage by advising on loan terms, preparing loan packages, or collecting information on the loan's behalf. It is unlawful to perform these activities on New Hampshire dwellings without holding and maintaining a license.

A mortgage loan originator is an individual who, for compensation or the expectation of compensation, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan. New Mexico applies this definition to loans secured by residential property with one to four dwelling units. The term covers both loan officers, who work for a single lender, and mortgage brokers, who work with multiple lenders.

A mortgage loan originator is an individual who, for compensation or gain, takes a residential mortgage loan application, accepts or solicits applications, offers or negotiates loan terms or conditions, or issues loan commitments or interest rate guarantee agreements. North Carolina requires every person performing these activities to hold an MLO license unless an exemption applies. Loan processors, real estate brokers, and individuals who only refer customers or take basic pre-application contact information are excluded.

Under ND Century Code 13-10-02(6), a mortgage loan originator is any individual who, for compensation or gain or the expectation of it, takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan. A residential mortgage loan is a loan primarily for personal, family, or household use secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or residential real estate. In North Dakota, an MLO must be licensed to work on such loans, unless exempt.

A mortgage loan originator is an individual who, for compensation or gain, takes or offers to take a residential mortgage loan application, assists a buyer in obtaining or applying for a residential mortgage loan, offers or negotiates loan terms, or issues a loan commitment. In Ohio these individuals hold the Mortgage Loan Originator License from the Division of Financial Institutions and must be sponsored by a company licensed by the Division.

Under 59 O.S. § 2095.2(15), a mortgage loan originator is an individual who, for compensation or gain or in the expectation of compensation or gain, takes a residential mortgage loan application or offers, negotiates, or modifies the terms of a residential mortgage loan. The license is issued by the Oklahoma Department of Consumer Credit to individuals only. Individuals working for state-regulated non-bank companies need the state license, while employees of federally regulated banks and credit unions register federally instead.

A mortgage loan originator (MLO) is an individual who takes a residential mortgage loan application or offers and negotiates the terms of a mortgage loan. Oregon law (ORS 86A.200(4)) defines the role, and anyone performing it for Oregon residents, for Oregon property, or from a fixed physical location in Oregon must hold a loan originator license from the Division of Financial Regulation. Those working for a federally regulated bank or credit union register through the Federal Registry in NMLS instead.

A mortgage loan originator is a natural person who, for a fee, commission, or other compensation, advises an applicant about loan products and their terms, helps an applicant complete a loan application, or negotiates or offers to negotiate the making of a mortgage loan. In Rhode Island, the term covers employees and provisional employees of licensed lenders and loan brokers.

Under South Carolina law, a mortgage loan originator (MLO) is any natural person who, as an employee of a licensed mortgage lender or broker for compensation, solicits, negotiates, accepts, or offers to accept applications for mortgage loans, or who has direct contact with applicants to inform them of rates, terms, disclosures, and other aspects of the loan. The term includes electronic applications. People limited to clerical or support duties, depository-institution employees, and those negotiating loans on their own residence do not need the license.

A mortgage loan originator (MLO) is an individual who, for compensation or gain or in the expectation of compensation or gain, takes a mortgage loan application or offers or negotiates terms of a mortgage loan. Under South Dakota law, no person may act as a mortgage loan originator, or use that title with respect to property in the state, without first obtaining and maintaining a license and a unique identifier through NMLS.

A mortgage loan originator (MLO) is an individual who, for compensation or the expectation of compensation, solicits, renders services related to the origination of, or transacts the business of a residential mortgage loan. Under the SAFE Act, MLOs who work for federally regulated banks and credit unions register through NMLS, while MLOs at non-bank companies must obtain and annually maintain a state license.

A mortgage loan originator (MLO) is a natural person who for compensation or gain takes a residential mortgage loan application, offers or negotiates terms of a residential mortgage loan, or represents to the public that they can perform those services. In Vermont, those individuals must hold an MLO license issued by the Department of Financial Regulation.

A mortgage loan originator (MLO) is an individual who originates loans for a Washington-licensed mortgage broker or consumer loan company, or holds themselves out to the public as able to perform those activities. Washington law also treats independent contractor loan processors and underwriters, and the direct day-to-day supervisor over Washington MLOs at a licensed Consumer Loan Company, as MLOs requiring a license.

A mortgage loan originator (MLO) is an individual who, for compensation or gain, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan. In West Virginia, the term also covers an independent-contractor loan processor or underwriter. A W-2 employee who only processes or underwrites loans for a licensed broker or lender under a licensed MLO's supervision does not need the license.

A mortgage loan originator is an individual who, for compensation or gain or in the expectation of compensation, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan. In Wisconsin, the Department of Financial Institutions issues the license, and every mortgage loan originator must act on behalf of a licensed mortgage banker or mortgage broker.

Under W.S. 40-23-102(a)(xxvii), a mortgage loan originator is an individual who, for compensation or in the expectation of compensation, takes a residential mortgage loan application or offers or negotiates the terms of a residential mortgage loan for any dwelling located in Wyoming. Anyone acting in this role must be individually licensed by the Wyoming Division of Banking.