Qualified Individual - Broker
Qualified Individual Requirements: Mortgage Experience and Test Taking
State requirements for qualified individuals (QI) vary significantly across the United States. Some states require no QI designation, while others mandate extensive mortgage experience and testing. Understanding these requirements is crucial for mortgage broker licensing compliance.
Key Information
- Group 1: No QI required - Control person can file without test or experience
- Group 2: QI designation only - No test or experience required
- Groups 4-6: Mortgage experience required with varying test requirements
- Group 8: Physical office states - Branch manager with test and experience required
| State | QI Required | Experience Required | Test Required | Notes |
|---|---|---|---|---|
| Alabama - Mortgage Broker | NO QI | None | No | Group 1 Control Person can file this Role without taking a Test or having Mtg Experience |
| Colorado - Broker | NO QI | None | No | Group 1 Control Person can file this Role without taking a Test or having Mtg Experience |
| District of Columbia - Mortgage Broker | NO QI | None | No | Group 1 Control Person can file this Role without taking a Test or having Mtg Experience |
| Iowa - Mortgage Broker | NO QI | None | No | Group 1 Control Person can file this Role without taking a Test or having Mtg Experience |
| Maine - Loan Broker | NO QI | None | No | Group 1 Control Person can file this Role without taking a Test or having Mtg Experience |
| Minnesota - Mortgage Originator | NO QI | None | No | Group 1 Control Person can file this Role without taking a Test or having Mtg Experience |
| Nebraska - Mortgage Broker | NO QI | None | No | Group 1 Control Person can file this Role without taking a Test or having Mtg Experience |
| South Dakota - Mortgage Broker | NO QI | None | No | Group 1 Control Person can file this Role without taking a Test or having Mtg Experience |
| Virginia | NO QI | None | No | Group 1 Control Person can file this Role without taking a Test or having Mtg Experience |
| Wisconsin - Mortgage Broker | NO QI | None | No | Group 1 Control Person can file this Role without taking a Test or having Mtg Experience |
| Alaska - Mortgage Broker Lender | QI ONLY | None | No | Group 2 Control Person can file this Role without taking a Test or having Mtg Experience |
| Michigan | QI ONLY | None | No | Group 2 Control Person can file this Role without taking a Test or having Mtg Experience |
| New Hampshire - Mortgage Broker | QI ONLY | None | No | Group 2 Control Person can file this Role without taking a Test or having Mtg Experience |
| Rhode Island - Mortgage Broker | QI ONLY | None | No | Group 2 Control Person can file this Role without taking a Test or having Mtg Experience |
| Tennessee - Mortgage Broker License | QI ONLY | None | No | Group 2 Control Person can file this Role without taking a Test or having Mtg Experience |
| Vermont - Mortgage Broker | QI ONLY | None | No | Group 2 Control Person can file this Role without taking a Test or having Mtg Experience |
| Wyoming - Broker | QI ONLY | None | No | Group 2 Control Person can file this Role without taking a Test or having Mtg Experience |
| Pennsylvania - First Mortgage Broker | QI-MU4-TEST by an owner | None | Yes | Group 3 Test by Owner Only |
| Massachusetts - Mortgage Broker | Yes | 1 year | No | Group 4 Mtg Experience Required but No Tests to Take |
| West Virginia - Mortgage Broker | Yes | 2 years | No | Group 4 Mtg Experience Required but No Tests to Take |
| Georgia - Mortgage Broker | Yes | 2 years OR 40 hours | No | Group 4 Mtg Experience Required but No Tests to Take |
| Maryland - Mortgage Lender | Yes | 3 years | No | Group 4 Mtg Experience Required but No Tests to Take |
| Idaho - Mortgage Broker | Yes | 3 years | No | Group 4 Mtg Experience Required but No Tests to Take |
| Illinois - Mortgage Broker | Yes | 3 years OR 30 hours | No | Group 4 Mtg Experience Required but No Tests to Take |
| Kentucky - Mortgage Loan Broker | MU4-TEST | 1 year or 30 hours | Yes | Group 5 Mtg Experience and Test Taking Required |
| Florida - Mortgage Broker Business | QI-MU4-TEST | 1 year | Yes | Group 5 Mtg Experience and Test Taking Required |
| New Jersey - Mortgage Broker | QI-MU4-TEST | 2 years | Yes | Group 5 Mtg Experience and Test Taking Required |
| Washington - Mortgage Broker | QI-MU4-TEST | 2 years | Yes | Group 5 Mtg Experience and Test Taking Required |
| New York - Mortgage Broker | QI-MU4-TEST | 2 years [BROKER] | Yes | Group 5 Mtg Experience and Test Taking Required |
| Indiana | QI-MU4 [BROKER ONLY AS PRINCIPAL MANAGER] MU4-TEST | 2 years | Yes | Group 5 Mtg Experience and Test Taking Required |
| Arkansas | MANAGING PRINCIPAL QI-MU4-TEST | 3 years | Yes | Group 5 Mtg Experience and Test Taking Required |
| Connecticut - 1st Mortgage Broker | QI-MU4-TEST | 3 years | Yes | Group 5 Mtg Experience and Test Taking Required |
| Mississippi - Mortgage Company-Broker | Yes | 2 years out of last 4 years – LENDER AND BROKER | Yes | Group 6 Recent Mtg Experience and Test Taking Required |
| New Mexico - Mortgage Loan Broker | QI-MU4-TEST | 2 out of last 4 years | Yes | Group 6 Recent Mtg Experience and Test Taking Required |
| Oregon - Mortgage Lender | Yes | 3 out of last 5 years | Yes | Group 6 Recent Mtg Experience and Test Taking Required |
| Utah - Mortgage Lender | QI-MU4-TEST | 3 out of last 5 years | Yes | Group 6 Recent Mtg Experience and Test Taking Required |
| Montana - Mortgage Broker | QI-MU4-TEST | None | Yes | Group 7 No Mtg Experience but Test Taking Required |
| Kansas - Mortgage Company | MU4-TEST | None | Yes | Group 7 No Mtg Experience but Test Taking Required |
| Louisiana - Mortgage Broker | MU4-TEST | None | Yes | Group 7 No Mtg Experience but Test Taking Required |
| Oklahoma - Mortgage Broker | QI-MU4-TEST | None | Yes | Group 7 No Mtg Experience but Test Taking Required |
| Missouri - Mortgage Broker | NO QI | Branch Manager Required | Yes | GROUP 8 - PHYSICAL OFFICE STATES Physical Office-Branch Manager Required who will take Test and Have Mtg Experience |
| Nevada - Mortgage Broker | NV MLO - MU4-TEST | 2 years | Yes | GROUP 8 - PHYSICAL OFFICE STATES Physical Office-Branch Manager Required who will take Test and Have Mtg Experience |
| Hawaii - Mortgage Broker | QI-MU4-TEST | 2 years | Yes | GROUP 8 - PHYSICAL OFFICE STATES Physical Office-Branch Manager Required who will take Test and Have Mtg Experience |
| Ohio - Mortgage Broker | QI-MU4-TEST | 3 years | Yes | GROUP 8 - PHYSICAL OFFICE STATES Physical Office-Branch Manager Required who will take Test and Have Mtg Experience |
| Arizona - Mortgage Broker | QI-MU4-TEST | 3 years | Yes | GROUP 8 - PHYSICAL OFFICE STATES Physical Office-Branch Manager Required who will take Test and Have Mtg Experience |
| South Carolina - Mortgage Broker | QI [MANAGING PRINCIPAL]-MU4-TEST | 3 years | Yes | GROUP 8 - PHYSICAL OFFICE STATES Physical Office-Branch Manager Required who will take Test and Have Mtg Experience |
| North Carolina | QI-MU4-TEST | 3 years [LENDER & BROKER] | Yes | GROUP 8 - PHYSICAL OFFICE STATES Physical Office-Branch Manager Required who will take Test and Have Mtg Experience |
| California - DRE | QI-MU4-TEST | Required | Yes | GROUP 8 - PHYSICAL OFFICE STATES Physical Office-Branch Manager Required who will take Test and Have Mtg Experience |
| Texas - Entity Mortgage Broker | QI-MU4-TEST | Required | Yes | GROUP 8 - PHYSICAL OFFICE STATES Physical Office-Branch Manager Required who will take Test and Have Mtg Experience |
Understanding Group Classifications
Group 1: No QI Required
Control Person can file without taking a test or having mortgage experience. Most flexible requirements.
Group 2: QI Designation Only
Requires QI designation but no testing or mortgage experience necessary.
Group 3: Test by Owner Only
Owner must take test but no specific experience requirement.
Group 4: Experience Required, No Test
Mortgage experience required (1-3 years) but no testing obligation.
Group 5: Experience and Testing
Both mortgage experience and test taking required.
Group 6: Recent Experience and Testing
Recent mortgage experience (within specific timeframe) and testing required.
Group 7: Testing Only
Test required but no specific experience requirement.
Group 8: Physical Office States
Physical office with branch manager who has both experience and testing required.
Important Considerations
MU4 Filing
Many states require an MU4 form filing for the qualified individual. This form must be submitted through NMLS and includes detailed information about the individual's background and experience.
Testing Requirements
When testing is required, it typically refers to the SAFE MLO Test or state-specific examination. Preparation and study time should be factored into your licensing timeline.
Experience Documentation
States requiring mortgage experience will typically need verification through employment history, references, or other documentation proving relevant industry experience.
Physical Office Requirements
Group 8 states require a physical office location with a designated branch manager who meets both experience and testing requirements. This can significantly impact operational costs.
Need Help Navigating QI Requirements?
The qualified individual requirements can be complex and vary significantly by state. Herb Thomas provides expert consultation to ensure you meet all state-specific requirements for your mortgage broker license.
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