Minnesota Statutes 58A.045 – Term of License and Fees
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Terms Used In Minnesota Statutes 58A.045
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
Subdivision 1.Term.
Licenses for mortgage loan originators issued under this chapter expire on December 31 and are renewable on January 1 of each year after that date.
Subd. 2.Fees.
The following fees must be paid to the commissioner:
(1) for a mortgage loan originator license, $90; and
(2) for a renewal mortgage loan originator license, $50.