New Title Lender Applicants
Beginning September 1, 2015, the Department and the National Mortgage Licensing System (NMLS) have partnered to obtain company information. For all new title lender applicants you will start on NMLS, submit the MU1 required information, and follow the instruction on the Utah“Company New Application Checklist”.
To register as a new deferred deposit lender in Utah you must:
1. Register the business with the Utah Department of Commerce, Division of Corporations and Commercial Code. You must supply the Department of Financial Institutions (DFI) a digital or paper copy of the Certificate of Existence issued by the Department of Commerce, Division of Corporations. It may be emailed to firstname.lastname@example.org or sent to one of the addresses in #5 below.
2. Register the company with the Nationwide Multistate Licensing System (NMLS), follow the checklist provided there, and submit the fees through NMLS (DFI fee of $300 and the NMLS fee of $100).
3. Submit a Consumer Credit Notification form and fee of $100 to DFI at PO Box 146800, Salt Lake City, UT 84114-6800.
4. Any of the information in #s 1 or 3 above can be mailed to Utah DFI, PO Box 146800, Salt Lake City, UT 84114-6800. It can also be hand-delivered or sent by overnight courier to Utah DFI, 324 S State St, Ste 201, Salt Lake City, UT 84111.
A registration certificate will be issued if all the requirements are met.