ALASKA
Get an understanding of mortgage lending and insurance state licensing and continuing education requirements
Alaska Mortgage License Requirements
Learn about the Alaska mortgage education requirements for mortgage licensing. In the state of Alaska, mortgage loan originators are required to:
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Complete a Criminal Background Check (CBC).
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Authorize a credit report through the NMLS.
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Fulfill all state and federal education requirements as designated by your state agency.
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Take and pass a National Test with a grade of 75% or higher.
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Must be covered by a surety bond in favor of the State of Alaska through the company that you are working for or individually obtain a surety bond.
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Cannot have been convicted of any felony in the last 7 years.
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Can never have been convicted of a felony that involved an act of fraud, dishonesty, breach of trust or money laundering.
Alaska NMLS Pre-Licensing Education Requirements:
New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:
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3 hours of federal law
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3 hours of ethics
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2 hours of non-traditional mortgage lending training
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12 hours of electives
Alaska Continuing Education
Requirements:
State-licensed MLOs are required to complete 8 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:
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3 hours of federal law
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2 hours of ethics
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2 hours of non-traditional mortgage lending
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1 hour of electives
MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.
Alaska Mortgage Licensing:
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Alaska Division of Banking and Securities
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Phone: 907-465-2521
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Email: dbs.licensing@alaska.gov
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Website: https://www.commerce.alaska.gov/web/
NMLS Resources:
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Professional Standards: Mortgage Education
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Professional Standards: Criminal Background Check
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Professional Standards: Credit Report
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Professional Standards: MLO Testing