In Minnesota, mortgage brokers are referred to as mortgage originators. Mortgage originators, like mortgage brokers, are able to offer consumers a variety of real estate loan products from different banks and lending institutions. This includes Minnesota mortgage lenders as well as out-of-state banks and credit unions. Mortgage originators in Minnesota do not have to have locations in Minnesota, but in order to do business in the state, mortgage brokers must register as a foreign corporation with the Minnesota Secretary of State.
Additionally, Minnesota mortgage originators must obtain licenses through the National Mortgage Licensing System. Previously, mortgage brokers were licensed through the PULSE system, but the state has recently transitioned to the nationwide system which requires a set amount of continuing education courses, ethics training and state-specific classes on local real estate and lending laws.
We recommend getting quotes from several different mortgage brokers to find the best rates. You can browse Minnesota mortgage brokers by location by clicking the links below. We’ve included a brief overview of each mortgage broker as well as their contact information, business hours and office locations. Be sure to ask for references and verify their licenses and registration with the appropriate state departments. |
