Utah Mortgage Broker Bond

    Mortgage brokers in the state of Utah have been regulated since April 23, 1990. Though the restrictiveness of the legislation was extremely relaxed, updates in recent years have made this a fairly restrictive state. Utah’s Division of Real Estate regulates mortgage lenders as per the Utah Residential Mortgage Practices Act.
    A PLM, or “Principal Lending Manager”, must fulfill the experience and education requirements of the state. The PLM must be designated by the applicant. Though there are no net worth requirements, and an in-state office is not requires, all employees must engage in brokering activities must obtain a mortgage officer license.
    The PLM Must have 5 years experience lending in the state of Utah, as well as passing the Utah law portion of the PLM exam. In place of 5 years experience, the PLM May have 3 years Utah lending experience along with completing 40 hours of pre-licensing education and passing the PLM Exam. 14 hours of continuing education is required for PLM during the licensure period.
    An applicant for an officer license in the state of Utah must be at least 18 year of age, and have complete 20 hours of pre-licensing education as well as having passed the examination.
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Utah Mortgage Bond Markets

Bad Credit Mortgage Broker Bonds

Applicants with a low credit score, or public records (Bankruptcy, Liens, Collection, or Civil Judgments) will find a difficult time getting bonded. Bryant Surety Bonds, inc offers a Bad Credit Surety Bond Program that is specially tailored to your needs and can get you approved. This program is available for high risk mortgage brokers.

Utah Licensure Requirements*

Applicant Requirements:

  • Age: 18 years of age
  • State Residency: No Requirement
  • Experience/Education/Examination: Applicants principle lending manager must fulfill one of the following: 1) 40 hours of pre-licensure education taken within one year of application, three years experience, and must pass the entire principle lending manager exam; OR 2) the PLM must have 5 years experience in Utah licensed lending and pass the Utah law portion of the PLM exam.
  • Continuing Education: Applicant or PLM must complete 14 hours of continuing education every 2 years.
  • Fitness For Licensure: All individual in management must have good moral character and competency to transact business.
  • Net Worth: No Requirement
  • Surety Bond: No Requirement
  • Background Check: Unknown
  • Managing Principal: Applicant must designate a Principle Lending Manager. The PLM must fulfill the pre-licensure/education/examination/fitness requirements. The PLM must also submit fingerprints and consent to a background check. The Principle Lending Manager is a separate license.

State Licensing Fees:

  • Initial Application: $200 Licensing Fee, $50 Application Fee
  • Branch Application: $25 Branch License Fee
  • Renewal Application: $253 Renewal Fee (every 2 years)

Employee Requirements:

  • Age: 18 Years of age or older
  • State Residency: Unknown
  • Experience: Unknown
  • Education: 20 hours of pre-licensure education with one year prior to application.
  • Continuing Education: 14 hours of continuing education is required biennially
  • Examination: Applicant must pass an exam.
  • Fitness For Licensure: Good moral character, honesty, integrity, and competency.
  • Net Worth: No Requirement
  • Surety Bond: No Requirement
  • Background Check: Applicant must submit fingerprints and consent to a background check
  • Managing Principal: Unknown
  • Exemptions: Unknown
  • Licensing Fee: Unknown
  • Renewal Fee: Unknown

Branch Offices:

  • In State Requirements: No Requirement
  • Licensure Requirements: $25 Branch license fee
  • Branch Manager: No Requirement


  • Entities: Lawyers, Real Estate Agents, Regulated Financial Institutions
  • Safe Harbor: None

*Information for state licensing is provided as a guide, always verify with the state that the information is correct.

How to apply:

1.) Visit the commercial application page.
2.) Complete our online application.