Qualified Individual – Broker
Qualified Individual Requirements
Mortgage Experience and Test Taking Requirements
- No QI required (EY)
- QI Designated Only (EY)
- QI required to have mortgage experience (TL)
- QI required to have MLO license and file MU4 and take exams (TL)
State Qualified Individual - Broker Matrix
| State | QI Required | Group | Notes |
|---|---|---|---|
| Alabama - Mortgage Broker | NO QI | Group 1 | Control Person can file this Role without taking a Test or having Mtg Experience |
| Colorado - Broker | NO QI | Group 1 | Control Person can file this Role without taking a Test or having Mtg Experience |
| District of Columbia - Mortgage Broker | NO QI | Group 1 | Control Person can file this Role without taking a Test or having Mtg Experience |
| Iowa - Mortgage Broker | NO QI | Group 1 | Control Person can file this Role without taking a Test or having Mtg Experience |
| Maine - Loan Broker | NO QI | Group 1 | Control Person can file this Role without taking a Test or having Mtg Experience |
| Minnesota - Mortgage Originator | NO QI | Group 1 | Control Person can file this Role without taking a Test or having Mtg Experience |
| Nebraska - Mortgage Broker | NO QI | Group 1 | Control Person can file this Role without taking a Test or having Mtg Experience |
| South Dakota - Mortgage Broker | NO QI | Group 1 | Control Person can file this Role without taking a Test or having Mtg Experience |
| Virginia | NO QI | Group 1 | Control Person can file this Role without taking a Test or having Mtg Experience |
| Wisconsin - Mortgage Broker | NO QI | Group 1 | Control Person can file this Role without taking a Test or having Mtg Experience |
| Alaska - Mortgage Broker | QI ONLY | Group 2 | Control Person can file this Role without taking a Test or having Mortgage Experience |
Need Mortgage Licenses or Exemptions?
Consult with Herb Thomas, the foremost attorney on mortgage licenses in the US.