Idaho is one of the most exacting (and friendly) regulators in the nation and will review your entire NMLS account (including documents and filings for other states) for accuracy and conformity with NMLS best practices. We highly recommend working with a Lynx Licensing expert for Idaho filings, even if you normally handle licensing in-house. Contact us for expert assistance.
- NMLS Cost: $700
- Additional Costs: $15 per credit report, $36.25 per criminal background check
- Allow additional time for Idaho licensing; the department is under heavy workload
- Qualifying Individual: required for each location; must be an Idaho-licensed mortgage loan originator, must provide a detailed resume evidencing three (3) years of mortgage industry experience (contact us for assistance, the resume requirements are stringent)
- Credit history: credit issues for a control person require a detailed line by line explanation; if you've already provided an explanation for another jurisdiction, Idaho will require you to change it to conform to their requirements (contact us for help)
- Business plan: Idaho will not accept separate business plans for each jurisdiction
- Surety Bond Requirement: None
- We highly recommend working with a Lynx Licensing expert on all Idaho license applications
Mortgage Broker/Lender License (Company)- NMLS Cost: $520
- Additional Costs: $15.00 per credit report, $36.25 per criminal background check
- Qualifying Individual: must have an Idaho-issued mortgage loan origination license; must be listed as a control person in NMLS; must meet detailed experience requirements (listed in company section, above)
- We highly recommend working with a Lynx Licensing expert on all Idaho license applications
Mortgage Broker/Lender Branch License (Branch)- NMLS Cost: $330
- Additional Costs: $15.00 per credit report, $36.25 per criminal background check
- Education: Idaho requires two (2) hours of Idaho-specific pre-licensure education as part of, or in addition to, the national twenty (20) hour requirement
- Location of employment: you must work within a "reasonable commuting distance" of the work location listed in NMLS; however, there are some limited "telecommuting" exceptions from non-commercial locations (contact us for more details)
- We highly recommend working with a Lynx Licensing expert on all Idaho license applications
Mortgage Loan Originator (individual)