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: 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

http://www.commerce.state.ak.us/bsc/home.htm