To apply for one of these license types go to www.pulseportal.com and submit an application electronically.
After selecting "Minnesota Department of Commerce" as the program and "Real Estate" as the board, click on "Submit a Resident License Application" or "Submit a Non-Resident License Application" and follow the necessary steps. After the application has been approved, you can make profile changes, print your own license, and process your own renewals. Please remember that it is the responsibility of the licensee to maintain license information through the PULSE portal.
"Making" a mortgage loan means to advance funds in connection with a mortgage.
"B rokering" a mortgage loan means assisting a borrower in obtaining a mortgage loan (including soliciting, placing, or negotiating a mortgage loan).
If you are "making" or "brokering" a Residential Mortgage Loan, you must obtain a Residential Mortgage Loan Originator or Servicer license or exemption.
If you are "making" a Commercial Mortgage Loan, please contact the Commerce Banking Division to discuss whether your specific activities require a license.
Contact the Commerce Banking & Financial Exams Division at firstname.lastname@example.org or 651-539-1600 for information about Residential Mortgage Originators and Servicers, Industrial Loan & Thrifts, Debt Prorate Agencies, Consumer Small Loan Lenders (payday lenders), Regulated Loan Companies, Motor Vehicle Sales Finance Companies, Accelerated Mortgage Payment Providers, Currency Exchanges, and Money Transmitters, and for information about license applications, renewals, and registration for these entities or individuals.
If you are "brokering" a Commercial Mortgage Loan, you must obtain a Limited Broker license.
Contact the Commerce Licensing Division at email@example.com or 651-539-1599 for information about how to obtain a Real Estate Broker license or a Limited Broker license.