2025 Session
Last amended: 2010 session
§ 58A.045 — Term of License and Fees
Plain-Language Summary
This section sets the license term and fees for mortgage loan originators. Licenses expire on December 31 each year and must be renewed on January 1. The initial license fee is $90 and the renewal fee is $50.
58A.045 TERM OF LICENSE AND FEES.
§
Subdivision 1.Term.
Licenses for mortgage loan originators issued under this chapter expire on December 31 and are renewable on January 1 of each year after that date. §
Subd. 2.Fees.
The following fees must be paid to the commissioner:
(1) for a mortgage loan originator license, $90; and
(2) for a renewal mortgage loan originator license, $50.
History:
History: History:
2010 c 347 art 4 s 5
Practical Notes
Mortgage loan originators must renew their licenses every year and pay the renewal fee on time. Missing the renewal deadline means your license expires and you cannot legally originate loans until you renew. These fees are paid to the state commissioner.