Does the state require a physical location within the state?
No.

Is there individual loan officer licensing?
No.

What are lenders, brokers and loan officers called?

Wyoming uses the terms mortgage lenders and mortgage brokers.

What is the cost of a license? Surety bond? Are there net worth requirements?
A license under the Residential Mortgage Practices Act is required for first-lien mortgage lenders and brokers.
The initial application fee is $500.00 for the home office and $50.00 for each additional location.
Each licensee must provide a surety bond in the amount of $25,000. That amount must be increased by an additional $10,000 for each licensed location.
Licenses expire on June 30 of each year and must be renewed at least 30 days before expiration.
Lenders and brokers in Wyoming engaged in mortgage activity with respect to second lien mortgage loans will also need to maintain the Supervised Lender License under the UCCC.

Is there a pre-licensing education requirement?
No.

Is there a CE requirement?
No.

Are there different requirements for mortgage brokers and mortgage lenders (i.e. can you broker under a lender license?)
The Residential Mortgage Practices Act covers both lending and brokering activities.

there any state specific high cost loan provisions?
No..

Are there any state specific predatory lending laws?
No.

Closing practices – attorney or title state? Wet or dry settlement?
Wyoming has no statutory reference to wet settlement or good funds. Closings should be handled as if the state had a good funds law or regulation.

Are there 2nd mortgage policies and/or restrictions? Do you need a separate license to do 2nd mortgages?
Wyoming has adopted its version of the Uniform Consumer Credit Code governing second mortgage lending in Wyoming. Lenders operating under the code are subject to regulation by the Wyoming Department of Audit, Division of Banking (UCCC). Wyoming has no statutes or regulations governing the brokering of second mortgage loans.

Regulatory Agency
State of Wyoming
Department of Audit
Division of Banking
Herschler Building, Third Floor East
Cheyenne, WY 82002
Phone: (307) 777-7797
Fax: (307) 777-3555
audit.state.wy.us/banking

DISCLAIMER: The data contained here is for informational purposes only. It should not be the sole resource for licensing decisions. Please consult the regulator and/or an attorney that specializes in these matters before taking action.

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