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Banking

Nonresidential Mortgage Lender License

Pursuant to South Dakota Codified Law (SDCL) 54-14-13.5, any company lending money for ONLY nonresidential mortgage loans must hold a mortgage lending license but is exempt from other provisions of SDCL 54-14. The application for this type of license is available here

The Non-Residential Mortgage Lender License Application can be submitted through the Nationwide Multistate Licensing System & Registry (NMLS).

The NMLS website provides step-by-step instructions on how to access the system, guides on how to complete the MU forms, each state's transition plans and requirements, tutorials, current and future participating states, system alerts, system processing fees and general background information.