• Home to DLR
• Home to Banking
• About Us
• Banking Commission
  • Commission Meetings
  • Commission Members
• Banks
• Consumer Complaints and Resources
• Cybersecurity Resources
• Forms
• South Dakota Laws and Rules
  • Legislative Updates
  • Supervisory Guidance
  • Federal Regulations
• Money Lenders
• Money Transmitters
• Mortgage Licenses
• Public Deposit Protection Commission
• Trust Companies
• Trust Task Force
• Monthly Activity Reports
  • Current Year Reports
  • Archived Activity Reports
• Contact Us

Banking

Mortgage Broker License Information

Notice: All applications and amendments must be submitted through the Nationwide Multistate 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 Multistate Licensing System (NMLS).

Application Process

Renewal Information

Amendments

Costs

If you cannot find the information you are looking for among the topics listed in the left-hand menu above or through one of the options above, please contact us.