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Mortgage Broker License Information
Notice: All applications and amendments must be submitted through the National Mortgage Licensing System (NMLS).
South Dakota Codified Law (SDCL) 54-14 defines a mortgage brokerage as any person engaged in placing mortgage loans with investors for a fee, but who does not service such loans.
Under the requirements of the Federal SAFE Act and SDCL Chapter 54-14, Mortgage Loan Originators must work under the supervision of a licensed mortgage lender or mortgage brokerage. The application for a company license for those meeting the definition of a mortgage brokerage is available through the Nationwide Mortgage Licensing System (NMLS).
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