North Dakota Mortgage Broker License Requirements
Navigate North Dakota's mortgage broker license requirements. Get a quick answer, understand the application process, fees, and recent regulatory changes in ND. Start your application today.
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To broker residential mortgage loans in North Dakota, you need a Money Broker license under NDCC Chapter 13-04.1, issued by the North Dakota Department of Financial Institutions (DFI). The process involves registering through the Nationwide Multistate Licensing System (NMLS), completing 20 hours of pre-licensing education, passing the SAFE MLO exam, obtaining a surety bond, and undergoing criminal background and credit checks. SB 2090 (68th Legislative Assembly) created NDCC Chapter 13-12 for residential mortgage lenders, so confirm with the DFI which chapter applies to your specific business model.
North Dakota Mortgage Broker Licensing
North Dakota does not use "mortgage broker license" as a standalone category. Instead, anyone brokering residential mortgage loans must hold a Money Broker license issued by the North Dakota Department of Financial Institutions (DFI), governed primarily by North Dakota Century Code (NDCC) Chapter 13-04.1. SB 2090 (68th Legislative Assembly), filed on March 15, 2024, created a new NDCC Chapter 13-12 for residential mortgage lenders and amended several provisions of Chapter 13-04.1. Confirm with the DFI which chapter applies to your specific business model before you apply.
The core checklist, regardless of entity type:
- Register and complete your application in the Nationwide Multistate Licensing System (NMLS).
- Complete 20 hours of SAFE Act-compliant pre-licensing education.
- Pass the SAFE Mortgage Loan Originator (MLO) Test, including the Uniform State Content component.
- Submit to a criminal background check and credit report review.
- Obtain and file a surety bond in the amount required by the DFI.
- Pay all applicable state and NMLS fees.
Consult the North Dakota Department of Financial Institutions directly for current requirements, as SB 2090 introduced structural changes that may affect how your activity is classified.
Who Needs a License and Core Requirements in North Dakota
What Counts as a "Money Broker" Under North Dakota Law
NDCC Chapter 13-04.1 defines a money broker as any person engaged in the business of negotiating, arranging, or procuring loans of money for others, or who holds themselves out as able to do so, in exchange for compensation (NDCC §13-04.1-01). SB 2090 (68th Legislative Assembly) amended this chapter and created NDCC Chapter 13-12, which specifically addresses residential mortgage lenders. If your business involves soliciting, negotiating, placing, or closing residential mortgage loans on behalf of borrowers or lenders, you operate within the scope of one or both chapters.
Activities triggering a licensing requirement include:
- Soliciting borrowers or lenders for residential mortgage loans.
- Negotiating loan terms between a borrower and a third-party lender.
- Placing or arranging residential mortgage loans for compensation.
- Advertising or holding yourself out as able to perform any of the above.
Key Exemptions
NDCC Chapter 13-04.1 provides exemptions for certain entities. Federally chartered banks, federally chartered credit unions, and their subsidiaries operating under federal oversight are generally exempt. State-chartered banks and credit unions supervised by the DFI are also typically exempt. For a complete and current exemption list, consult the North Dakota Department of Financial Institutions, because SB 2090 amended several exemption-related provisions of Chapter 13-04.1.
General Eligibility Criteria
- Age: Applicants must be at least 18 years old.
- Moral character: The DFI evaluates good moral character. Prior felony convictions, particularly those involving fraud, dishonesty, or breach of trust, are disqualifying under federal SAFE Act standards incorporated into NMLS Uniform State Content requirements.
- Residency: No specific North Dakota residency requirement for individual applicants, but business entities must register with the North Dakota Secretary of State.
NMLS and Pre-Licensing Education
Every applicant must create an NMLS account at the NMLS Resource Center. Companies file the MU1 form; individual MLOs file the MU4 form. Each control person listed on the MU1 must also complete an MU2 form.
Pre-licensing education must total at least 20 hours of SAFE Act-compliant coursework, covering federal mortgage law, ethics, non-traditional mortgage products, and elective content. The NMLS Uniform State Content requirement is embedded in the national exam, not a separate course. Verify current North Dakota-specific education requirements with the DFI, as SB 2090 may have introduced state-specific additions.
SAFE MLO Exam
All individual mortgage loan originators must pass the SAFE MLO National Test with Uniform State Content. A score of 75% or higher is required. If you fail, you must wait 30 days before retesting (first and second failures); after three failures, the waiting period extends to 180 days (NMLS Uniform State Content testing rules).
Surety Bond
A surety bond is required under NDCC Chapter 13-04.1. SB 2093 (66th Legislative Assembly) previously amended surety bond requirements for money brokers (NDCC §13-04.1-04.1). The required bond amount varies based on loan volume or other DFI criteria. Consult the North Dakota Department of Financial Institutions for the current bond schedule, as the DFI sets specific amounts that can change with legislative amendments.
Financial Responsibility and Net Worth
The DFI reviews applicants' financial condition. Specific net worth minimums, if any, are set by the DFI under its rulemaking authority. Consult the North Dakota Department of Financial Institutions for current financial responsibility thresholds.
Criminal Background Check and Credit Report
All control persons and individual MLOs must authorize:
- An FBI criminal background check through NMLS (fingerprints submitted via an NMLS-approved channeler).
- A credit report pull through NMLS.
Both are reviewed by the DFI as part of the character and fitness determination.
Business Entity Registration
If you are applying as a company rather than an individual, the entity must be registered and in good standing with the North Dakota Secretary of State before the DFI will approve the license. Foreign entities must obtain a certificate of authority to do business in North Dakota.
North Dakota Mortgage Broker Application Process, Fees, and Timelines
Step-by-Step Application Process
Step 1: Register with NMLS Create your NMLS account at the NMLS Resource Center. Companies file the MU1 form; individual MLOs file the MU4 form. Each control person listed on the MU1 must also complete an MU2 form.
Step 2: Complete Pre-Licensing Education Finish all 20 hours of required SAFE Act pre-licensing education through an NMLS-approved provider before submitting your application. Education completion is tracked in NMLS automatically once your provider reports it.
Step 3: Pass the SAFE MLO Exam Schedule and pass the SAFE MLO National Test with Uniform State Content through an NMLS-approved test provider (currently Prometric). Your passing score is recorded in NMLS.
Step 4: Gather Required Documentation Typical documents required by the DFI include:
- Business plan describing the nature and scope of mortgage brokering activity.
- Financial statements (balance sheet, income statement) demonstrating financial responsibility.
- Organizational chart and ownership disclosure.
- Executed surety bond from an approved surety company.
- Disclosure of any criminal history, regulatory actions, or civil judgments.
- Proof of business entity registration with the North Dakota Secretary of State.
Step 5: Submit Fingerprints Schedule fingerprinting through an NMLS-approved channeler. Results are transmitted directly to the DFI and FBI through NMLS. Do not wait to submit your application, as fingerprint results can take several weeks.
Step 6: Submit the Application Through NMLS Complete all NMLS application sections, upload required documents, and pay fees through the NMLS system. The DFI receives the application electronically.
Step 7: Respond to DFI Deficiency Notices The DFI will issue a deficiency notice if documentation is incomplete. Respond promptly. Delays in responding extend your processing timeline.
Step 8: License Issued Once approved, your license appears in NMLS. You may not conduct mortgage brokering activity until the license is active.
Fee Breakdown and Timeline Comparison
The table below reflects fee categories. Specific dollar amounts for state fees should be confirmed directly with the North Dakota Department of Financial Institutions and the NMLS fee schedule, as fees are subject to change and the source material does not specify current amounts.
| Fee or Cost Item | Amount | Where Paid |
|---|---|---|
| NMLS Initial Application Fee (Company) | Consult NMLS fee schedule | NMLS |
| NMLS Initial Application Fee (Individual MLO) | Consult NMLS fee schedule | NMLS |
| ND State License Fee | Consult ND DFI fee schedule | NMLS / DFI |
| Credit Report Fee (per person) | Consult NMLS fee schedule | NMLS |
| FBI Criminal Background Check (per person) | Consult NMLS fee schedule | NMLS |
| SAFE MLO Exam Fee | Consult NMLS fee schedule | Prometric via NMLS |
| Pre-Licensing Education (20 hours) | Varies by provider | Education provider |
| Surety Bond Premium | Varies by bond amount and credit | Surety company |
| Annual Renewal Fee | Consult ND DFI fee schedule | NMLS / DFI |
For exact current fee amounts, use the NMLS State Licensing Requirements page for North Dakota or contact the North Dakota Department of Financial Institutions directly.
Estimated Processing Timelines
| Stage | Estimated Duration |
|---|---|
| NMLS account setup and form completion | 1 to 3 days |
| Pre-licensing education (20 hours) | 1 to 2 weeks (self-paced) |
| SAFE MLO exam scheduling and completion | 1 to 4 weeks |
| Fingerprint processing and FBI background check | 4 to 8 weeks |
| DFI application review (complete application) | Varies by DFI workload |
| DFI response to deficiency notices | Adds time per response cycle |
The DFI does not publish a guaranteed processing window. Consult the North Dakota Department of Financial Institutions for current average review times. Applications with missing documents or unresolved background check issues take significantly longer.
Important Note on SB 2090
SB 2090, filed with the North Dakota Secretary of State on March 15, 2024, created NDCC Chapter 13-12 (Residential Mortgage Lenders) and amended multiple sections of NDCC Chapter 13-04.1. If you are applying after the effective date of SB 2090, confirm with the DFI whether your activity is licensed under Chapter 13-04.1, Chapter 13-12, or both. The DFI's NMLS checklists will reflect the current statutory framework. Do not rely on pre-2024 application guides without verifying they have been updated to reflect this legislation.
For the most current requirements, fee schedules, and application checklists, contact the North Dakota Department of Financial Institutions or access the North Dakota state licensing page on the NMLS Resource Center at nmlsconsumeraccess.org.
Sources & Verification (6)
- A BILL for an Act to create and enact a new chapter to title 13 of the North Dakota Century Code, relating to litigation financing; to provide a penalty; and to provide for application.
- AN ACT to create and enact chapters 4.1-58, 4.1-59, 4.1-61, and 4.1-62 of the North Dakota Century Code, relating to grain and seed warehouses, grain buyers, insolvent grain warehousemen, uniform accounting for public elevators and warehouses, and credit-sale contracts indemnity from title 60; to amend and reenact subsection 4 of section 41-07-10 and section 51-23-04 of the North Dakota Century Code, relating to cross-references to repealed laws; to repeal chapters 60-02, 60-02.1, 60-04, 60-05, and 60-10 of the North Dakota Century Code, relating to grain and seed warehouses, grain buyers, insolvent grain warehousemen, uniform accounting for public elevators and warehouses, and credit-sale contracts indemnity; to provide a penalty; and to provide a continuing appropriation.
- AN ACT to create and enact a new subsection to section 41-08-03, a new subsection to section 41-08-10, sections 41-09-05.1, 41-09-07.1, 41-09-07.2, 41-09-26.1, 41-09-26.2, 41-09-34.1, and 41-09-46.1, and chapters 41-11 and 41-12 of the North Dakota Century Code, relating to the adoption of the Uniform Commercial Code amendments (2022); to amend and reenact sections 41-01-09, 41-01-12, 41-01-15, 41-01-20, 41-02-02, 41-02-06, 41-02-08, 41-02-09, 41-02-10, and 41-02-12, subsection 2 of section 41-02-16, section 41-02.1-02, subsection 1 of section 41-02.1-03, sections 41-02.1-07, 41-02.1-10, 41-02.1-11, 41-02.1-12, and 41-02.1-14, subsection 2 of section 41-02.1-17, subsection 1 of section 41-03-04, subsection 1 of section 41-03-05, sections 41-03-38, 41-03-66, 41-04.1-03, 41-04.1-09, 41-04.1-10, and 41-04.1-11, subsection 3 of section 41-04.1-15, subdivision b of subsection 2 of section 41-04.1-16, subsection 1 of section 41-04.1-18, subsection 1 of section 41-04.1-19, sections 41-04.1-25, 41-05-04, 41-05-16, 41-07-02, 41-07-06, 41-08-02, 41-08-06, 41-08-29, 41-09-02, 41-09-04, and 41-09-05, subsection 2 of section 41-09-13, section 41-09-14, subsection 3 of section 41-09-17, sections 41-09-18, 41-09-19, 41-09-20, and 41-09-21, subsection 1 of section 41-09-24, subsection 1 of section 41-09-25, sections 41-09-30, 41-09-32, 41-09-33, 41-09-34, 41-09-36, 41-09-37, 41-09-43, 41-09-44, 41-09-50, 41-09-51, and 41-09-52, subsection 6 of section 41-09-54, section 41-09-61, subdivision b of subsection 1 of section 41-09-66, sections 41-09-68, 41-09-70, and 41-09-80, subsection 2 of section 41-09-98, section 41-09-102, subdivision a of subsection 1 of section 41-09-105, section 41-09-108, subsection 1 of section 41-09-111, subsection 1 of section 41-09-114, section 41-09-115, subdivision a of subsection 1 of section 41-09-116, and sections 41-09-119 and 41-09-123 of the North Dakota Century Code, relating to the adoption of the Uniform Commercial Code amendments (2022).
- AN ACT to create and enact chapter 13-12 of the North Dakota Century Code, relating to residential mortgage lenders; to amend and reenact sections 13-04.1-01, 13-04.1-02.1, 13-04.1-03, 13-04.1-08, 13-04.1-08.1, 13-04.1-09, 13-04.1-09.3, 13-04.1-10, 13-04.1-13, 13-04.1-14, and 13-04.1-17 of the North Dakota Century Code, relating to money brokers; to repeal section 13-04.1-16 of the North Dakota Century Code, relating to call reports; to provide a penalty; and to provide for application.
- AN ACT to create and enact chapter 13-09.1 of the North Dakota Century Code, relating to money transmitters; to amend and reenact subsection 1 of section 6-01-01.1 of the North Dakota Century Code, relating to money transmitters; to repeal chapter 13-09 of the North Dakota Century Code, relating to money transmitters; and to provide a penalty.
- AN ACT to amend and reenact sections 6‑01‑09, 6‑05‑03, and 6‑05‑28, subsection 3 of section 6‑08.1‑01, sections 13‑04.1‑04.1, 13‑05‑04.1, and 13‑08‑06, subsection 1 of section 13‑09‑10, and section 13‑11‑08 of the North Dakota Century Code, relating to the examination of technology service providers, the capital requirement for trust companies, the examination of trust companies, the definition of a financial institution, surety bond requirements for money brokers and collection agencies, notice requirement for deferred presentment service providers, fees for money transmitters, and reporting requirements for debt-settlement providers; and to repeal sections 13‑04.1‑05.1, 13‑05‑05.2, 13‑08‑05.2, and 13‑09‑10.1 of the North Dakota Century Code, relating to automatic renewal of license in 2009 for money brokers, automatic renewal of license in 2014 for collection agencies, deferred presentment service providers, and money transmitters.
Last verified: May 13, 2026
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- SAFE MLO National Test Prep — 20-Hour Course Study GuideCovers the 20-hour SAFE Act pre-licensing curriculum required for the national NMLS test. Most candidates pair this with the OnCourse Learning course before scheduling Prometric.
- The Mortgage Originator Success Kit — Darrin SeppinniDay-one operations playbook for newly-licensed MLOs: bond setup, NMLS sponsorship transfer, RESPA-safe marketing.
- NMLS SAFE Mortgage Test FlashcardsSpaced-repetition cards for the national + state-specific UST elements. Cheapest way to drill terminology before exam day.
- RESPA & TILA Compliance ManualReg X / Reg Z / TRID disclosure timing — the rules every loan originator misquotes. Cited in most CFPB enforcement actions.