Qualified Individual – Lender
Qualified Individual Requirements: Mortgage Experience and Test Taking
Understanding qualified individual (QI) requirements is essential for mortgage lender licensing. The requirements vary significantly by state, with some states requiring no QI, while others mandate specific experience and testing.
Note: QI requirements determine whether a control person can file for a mortgage lender license without taking exams or demonstrating mortgage experience. State rules vary considerably.
MORTGAGE LENDER LICENSES
Qualified Individual Requirements
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Legend:
- NO QI: No Qualified Individual Required
- QI Designated Only: Qualified Individual must be designated but minimal requirements
- QI Required: Qualified Individual required with specific experience or testing
- Group 1/2: Classification of QI requirements by state
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