Kentucky MLO cheat sheet
Kentucky MLO · Keep the key ideas within reach.
Kentucky State-Specific Mortgage Laws and Regulations
Kentucky MLOs are licensed by the Kentucky Department of Financial Institutions (DFI) under KRS Chapter 286 and regulated through NMLS.
Pre-licensure education: 20 hours, including Kentucky-specific content; annual continuing education is 8 hours with a Kentucky law component.
Kentucky requires a surety bond for mortgage loan companies; the bond amount is set by DFI and scales with loan volume.
License renewal: annual renewal through NMLS; late renewal may require a fee and re-application; CE must be completed before renewal.
Kentucky law requires disclosure of fees and prohibits false or misleading advertising; the NMLS unique identifier must appear on advertising.
DFI examination authority: the commissioner may examine licensees, require books and records, and impose fines or license revocation for violations.
Kentucky's mortgage loan originator license is tied to a sponsoring mortgage company; a change in sponsorship requires notice through NMLS.
Kentucky consumer protection: KRS 367 prohibits unfair or deceptive acts; DFI coordinates with the Attorney General on mortgage fraud cases.