Colorado Mortgage Broker License Guide

In Colorado, all individuals who originate and/or modify mortgage loans must be licensed at the state level. The licenses are regulated by the Colorado Department of Regulatory Agencies (DORA): Division of Real Estate.

The license application process for mortgage brokers and loan originators is managed by the Nationwide Mortgage Licensing System (NMLS). The NMLS system allows mortgage broker companies and individuals to apply, update and renew licenses online.

Types of Mortgage Licenses in Colorado

In Colorado, there are two main types of licenses: Company and Individual. The most common is the Mortgage Loan Originator (MLO) License. The MLO license is required of any person who originates mortgages or acts as a mortgage loan originator.

In this guide, we’ll only cover information regarding the MLO license. You can review the full list of licenses on the NMLS website.

Most Common Individual License

  • Mortgage Loan Originator License - allows individuals to originate and modify mortgage loans in the state of Colorado.

Colorado State Requirements

All license applications must be submitted online through NMLS. Please note that you are also required to submit a state e-license application through Colorado DORA 24 hours after submitting your NMLS application. Information regarding the e-license, including user guides, can be found on CO DORA’s online services page.

For assistance with the license requirements, or for additional information, you can contact the Colorado Division of Real Estate at 303-894-2166 or [email protected].

For questions and additional assistance with your NMLS account, please contact their call center at 1-855-665-7123. For questions regarding the Mortgage Loan Originator education requirements you can use the contact form provided on the website.

Education and Exams

Passing an exam is obligatory for some, but not all license types. In order to obtain a Colorado Mortgage Loan License you must complete a pre-license course and pass a test.

Exams for Individual Licenses

  • Mortgage Loan Originator License - To enroll for the MLO test you must first complete a 20-hour NMLS-approved pre-license course. The course must include 2 hours of Colorado content. Further Information, as well as a list of approved providers, can be found on the NMLS Education page.

After completing the pre-license education course, you can enroll and pay the test fee for the Mortgage Loan Originator exam via NMLS. You can schedule an exam date either through NMLS or by contacting the exam administrator Prometric at 877-671-6657.

The NMLS testing page provides more information on how to schedule, prepare, and take the Mortgage Loan Originator test.

CO Mortgage Broker Bonds

Bonds for Individual Licenses

  • Mortgage Loan Originator – All MLO applicants must furnish a surety bond. The amount depends on the profile of the applicant.
    • $25,000 if applying as an individual.
    • $100,000 if the applicant is an employee of a company with less than 20 individuals who are also required to be licensed (under the CO MLO licensing laws).
    • $200,000 if the applicant is an employee of a company with 20 or more individuals who are also required to be licensed (under the CO MLO licensing laws).

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Licensing Fees

Fees for Individual Licenses

  • Mortgage Loan Originator License
  • $25 license fee
  • $30 NMLS processing fee
  • $15 credit report
  • $36.25 FBI background check
  • $39.50 State criminal background check (made payable to CO Bureau of Investigations)

Test fee:

The fee is non-refundable and must be submitted via NMLS.

  • $110 exam fee
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