Consumer Finance

Mortgage Broker, Lenders & Originators


Alaska Secure and Fair Enforcement for Mortgage Licensing Act of 2010
(Alaska SAFE Act 2010), AS 06.60

The Alaska SAFE Act of 2010 was passed and signed into law with an effective date of July 1, 2010. The Alaska SAFE Act brought Alaska into compliance with Federal SAFE requirements. The Act replaced the Alaska Mortgage Lending Regulation Act that was enacted in 2008 that initially required mortgage lenders, broker and loan originators to be licensed. The Alaska SAFE Act of 2010 and the Regulations are posted on this website under "Reference Information".

Applying for Licensure

The State of Alaska began accepting applications for licensure through the Nationwide Mortgage Licensing System (NMLS) on August 1, 2009. Applicants for new licenses can obtain the application checklist and complete all necessary MU forms through the NMLS. Further details are provided in the "Frequently Asked Question Section" under "Licensing and NMLS". A link to NMLS is provided on this website. State of Alaska Licensing Requirements are located in NMLS here.

Minimum SAFE Mortgage Loan Originator (MLO) Requirements

New applicants must meet the following requirements:

  • Complete 20 hours of NMLS approved pre-licensure education courses
  • Obtain a passing score on both the National Test Component with Uniform State Test (UST) Content and the Alaska State components of the SAFE Test until June 30, 2013. After July 1, 2013, Alaska will adopt the National Test Component with the UST and a MLO will need a passing score on it. The Alaska State component will be replaced by the UST on July 1, 2013.
  • Fingerprints for an FBI criminal history background check
  • Authorization for a credit report for financial responsibility review

The Mortgage Loan Originator's license will not be approved until a sponsorship request is submitted by the originator's employer. A quick guide titled "Create a Company Sponsorship" at the following link will help walk your company through this process: NMLS Quick Guides

Full information concerning requirements can be found in NMLS at the NMLS Resource Center under "Professional Requirements." Refer to the Frequently Asked Questions for more specific information.

Program Administration Fee - DELAYED

A memo was sent to all mortgage brokers and lenders on December 21, 2010, delaying implementation of the Program Administration Fee. A copy of the memo is available on the website under "Correspondence to Licensees." Mortgage Licensees will be given ample notice when the fee will take effect.

License Renewal – 2015

All license types and branch registrations are renewed through NMLS. The annual renewal period for 2015 will open on November 1, 2014 and run through December 31, 2014. The license status of licensees who fail to request renewal before January 1, 2015 will be changed by the system to "Terminated – Failed to Renew".

Late Renewal - Upon payment of a delayed renewal fee through NMLS, licensees may request late renewal until the last day of February 2015. While in this status the licensee will be not be able to conduct business until they pay the delayed renewal fee and the department has approved the renewal. If a licensee fails to request late renewal by the deadline date their license status will be changed to "Terminated – Expired" and they must reapply for licensure to be eligible to conduct mortgage business in Alaska.

Refer to the NMLS website for more details at:   

Mortgage License Search

NML Consumser In order to provide homebuyers and the general public with greater information concerning the companies and professionals in the mortgage industry the NMLS has launched a website called NMLS Consumer Access. NMLS Consumer Access is a fully searchable website that allows the public to view information concerning state-licensed companies, branches, and individuals licensed and registered through NMLS.

All fees are collected through the NMLS and ARE NOT REFUNDABLE.

Log into NMLS

Any questions relating to the NMLS should be directed to the NMLS
Call Center at:
(855) 665-7123.