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What do I need for a Vermont mortgage loan originator license?

In Vermont, unless an exemption applies, a person may not engage in the business of a mortgage loan originator without first obtaining a license from the Commissioner. The prelicensing requirement is at least 20 hours of approved education, two of them on Vermont law. An applicant must also pass a qualified written test, scoring at least 75 percent correct answers.

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The rule, fact by fact

Course hours
At least 20 hours of approved education, two of them on Vermont lawThe statute splits the hours by topic, listed in the questions below.
Verified. legislature.vermont.gov (opens state website) · checked Nov 13, 2026
Cost
$110 for the SAFE MLO Test, as NMLS lists it. This is not the course priceWe haven't confirmed a course price from a source.
NMLS Resource Center · SAFE MLO Test overview (opens website) · checked Nov 13, 2026
Online accepted
Yes. A classroom, online, or any other means the Registry approvesThe statute says this about prelicensing education in general.
Same source and date as above
Passing score
A passing score is not less than 75 percent correct answersThe statute sets this for a qualified written test.
Verified. legislature.vermont.gov (opens state website) · checked Nov 13, 2026

How to get it done

  1. Step 1. Check whether you need the license. Without first obtaining a license from the Commissioner, a person may not engage in the business of a mortgage loan originator. Some people are exempt. Among them are registered mortgage loan originators employed by and acting for an entity the chapter lists, and anyone who negotiates a home loan for an immediate family member.

  2. Step 2. Pick a course the Nationwide Multistate Licensing System and Registry approves, called the Registry on this page. The statute has the Registry review and approve prelicensing courses and their providers.

  3. Step 3. Take at least 20 hours, two of them on Vermont law. The statute lets prelicensing courses be offered in a classroom, online, or by any other means the Registry approves.

  4. Step 4. Pass a qualified written test, which the Registry develops. After failing three consecutive tests, an individual waits at least six months before taking it again.

Before you pay

Before you pay, check that the Registry has approved both the course and its provider.

Questions

How are the 20 hours split?

The statute lists at least three hours of federal law and regulations, three of ethics, two on lending standards for nontraditional mortgage products, and two of Vermont law. NMLS says the two Vermont hours can come from a Vermont comprehensive course or a state-specific elective.

Do hours from another state count?

Hours the Registry approved for any state count as credit in Vermont for the federal law, ethics and nontraditional lending topics. The statute's credit rule names those three topics.

What does the test cover?

A test counts as a qualified written test only if it measures knowledge in subject areas including ethics, and federal and State law and regulation on mortgage origination. NMLS lists 120 questions, with 115 scored. The five unscored pre-test questions have no effect on your pass or fail result.

What if my license lapsed?

If three years pass after your prelicensing education without a license in any state or a federal registration, you retake the 20 hours. The same applies if you later go three years or more without an approved license or registration. A licensed originator who fails to keep a valid license for five years or longer also retakes the test. Time as a registered originator does not count toward those five years.

What to do next

Start with the Vermont statute on prelicensing education. Then pick a course the Registry approves.

legislature.vermont.gov

Sources we read