South Dakota SAFE / Mortgage Licensing
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South Dakota Mortgage Licensing Requirements
The SAFE Act requires states to establish minimum rules and standards for the licensing and registration of mortgage loan originators. This allows easy access to a Loan Officer and Mortgage Broker's credentials and allows the public to know what kind of mortgage history these providers have.
Essentially, the SAFE Act requires that state-licensed Mortgage Loan Originators (MLOs) pass a written qualified test with a score of 75% or better, complete at least 20 hours of pre-licensing education courses, and take eight hours of annual continuing education courses.
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South Dakota Mortgage Broker Licensing Requirements
For further details on South Dakota Mortgage Broker Licensing requirements, go to:
South Dakota Division of Banking
217.5 West Missouri Avenue
Pierre, SD. 57501
Phone: 605-773-3421
Fax: 866-326-7504
Email: drr.banking.info@state.sd.us
Disclaimer: This information provided is based on state laws and regulations, and is subject to change. While we make every effort to asure this information is current and accurate, it is not engaged in rendering legal or professional advice, and shall not be held responsible for inaccuracies contained herein.
