Alaska was the last state to implement mortgage company licensing. They required companies to hold a license by July 1, 2008 if they did not hold an Alaska Business License prior to that date. They then required all mortgage companies with a business license prior to July 1, 2008 to obtain the new Mortgage Lender License by April 1, 2009. The new mortgage license is for brokers and lenders/bankers. It requires completion of a test, fingerprints, surety bond, and additional documentation on the company and its owners.
Mortgage Banker or Broker
Mortgage Lender License
Physical In-State Office Required: No
Surety Bond: $75,000
Minimum Net Worth: $ None
Qualifying Individual: No
Comments: Requires 2 Control Persons. New licensing requirements began July 1, 2008, with effective date of April 1, 2009 for those who held an Alaska Business License prior to July 1, 2008.
License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$350 – Foreign Entity Fee
$125 – Registered Agent Fee
$750 – Surety Bond Fee
$850 – Company License Fee
Regulated by:
Licensing Department of Commerce, Community & Economic Development
Division of Banking & Securities
500 W. Seventh Ave, Suite 1850
Anchorage, AK 99501
Telephone: 907-269-8140
Fax: 907-465-2549
mortgagelending@alaska.gov
Marilyn White | marilyn.white@alaska.gov | 907-269-4594
Tracy Reno | tracy.reno@alaska.gov | 907-269-8112
Yvonne Little | yvonne.little@alaska.gov | 907-269-4584