What license is required for commercial lending?
No federal license is required for commercial lending. The SAFE Act licensing requirement applies only to individuals who take applications or offer and negotiate terms of residential mortgage loans, meaning loans primarily for personal, family, or household use secured by a dwelling or residential real estate. A loan made for business or commercial purposes falls outside that definition, so commercial lending is not covered by the mortgage loan originator license.
None, for commercial-only work. Georgia's mortgage loan originator license requirement applies to residential mortgage loans, and originators who work only on commercial loans are exempt. A loan officer who also takes applications or negotiates terms for residential loans must hold a Georgia MLO license.
Sources: Ga. Comp. R. & Regs. 80-11-5: Mortgage loan originator licensure and other requirements; Ga. Comp. R. & Regs. 80-5-1-.02: License and supervision fees (LII mirror).
Michigan does not require a mortgage license for commercial lending. The Mortgage Loan Originator License covers residential mortgage loans only, and the Department of Insurance and Financial Services states that commercial or investment property is not regulated under the Mortgage Brokers, Lenders, and Servicers Licensing Act. Anyone who takes a residential mortgage loan application for compensation must still be licensed as a mortgage loan originator.
Sources: Michigan DIFS: Mortgage Loan Originator licensing page; Michigan DIFS: Schedule of Fees — Mortgage Loan Originator (2026).
No residential mortgage broker license is required for persons solely engaged in commercial mortgage lending; the licensing requirement under RSMo 443.805 covers brokering, funding, servicing, or purchasing residential mortgage loans. Individuals who originate residential mortgage loans on Missouri dwellings, however, must hold an MLO license.
Sources: RSMo 443.706: Licensure required, exemptions; RSMo 443.711: MLO application form, NMLS, fees.
South Dakota exempts individuals who negotiate five or fewer nonresidential mortgage loans in a twelve-month period, with no more than $4 million in loans outstanding. Beyond that exemption, commercial mortgage lending requires a license from the Division of Banking, and each licensee must obtain and maintain a unique identifier through the Nationwide Multistate Licensing System (NMLS).
Sources: SDCL Chapter 54-14: Mortgage Lender Business.