Mortgage Broker License - State Directory

STATES
ST

State Agency

Mortgage Broker Licenses
AK

Alaska Division of Banking, Securities, and Corporations
P.O. Box 110807
Juneau, AK 99811-0807
ph (907) 465-2521
fax (907) 465-2549

AK Mortgage Broker License

On July 1, 2008, the State of Alaska, Division of Corporations, Business and Professional Licensing will begin licensing and regulating mortgage brokers, mortgage lender, and mortgage originators.  The new law as codified in Alaska Statute under title 06.60 will not allow any grandfathering of entities or individuals.

AL
AL State Banking Department
Center for Commerce, Suite 680
401 Adams Avenue
Montgomery, Alabama 36130-1201
ph (334) 242-3452
fax (334) 242-3500

AL Mortgage Broker License

Key Requirements

  • $500 and $100 filing fee
  • Evidence of Education
  • Physical Office
  • References
AR

Arkansas Securities Department Heritage West Building Suite 300
201 F. Markham
Little Rock, AR 72201
ph 501-324-9260

AR Mortgage Broker License

Key Requirements:

  • $50,000 surety bond
  • $25,000 net worth
  • $750 filing fee
  • Audited Financials
AZ
Arizona State Banking Department
2910 N. 44th Street, Suite 310
Phoenix, AZ 85018
ph (602) 255-4421
fax (602) 381-1225

AZ Mortgage Broker License

Key Requirements:

  • $800 filing fee
  • $15,000 Surety Bond
  • Fingerprint Card and Fee
  • AZ Responsible Individual with 3 years mortgage experience, passed an exam, has AZ drivers license, and lives in AZ
  • Physical Office Required (click for possible solution)
CA
Department of Corporations
320 West 4th Street, Suite 750
Los Angeles, CA 90013-1105
ph (213) 576-7500

CA Consumer Finance Lender License

Brokers are defined in the California Finance Lenders Law as "any person engaged in the business of negotiating or performing any act as broker in connection with loans made by a Finance Lender". Brokers licensed under this law, may only broker loans to lenders possessing a valid California Finance Lenders license. Companies can apply as botth broker and lender but table funding is not permitted. This is a broad license covering commercial lending, equipment leasing, secured and unsecured consumer loans.

 

Key requirements:

  • $300 filing fee
  • $25,000 Surety Bond
  • Fingerprint Cards/Live Scan
  • $25,000 Net Worth

Department of Real Estate
320 West 4th Street, Suite 350
Los Angeles CA 90013-1105
ph (213) 620-2072

CA Real Estate Broker License

Permits mortgage loans to be brokered to banks, saving loans and credit unions.

NOTE: This is the mainline Mortgage Broker license for California but it is a burden for out-of-state companies.

Key Requirements:

  • $165 Application Fee
  • Physical Office
  • Designated Broker
CO
Colorado Division of Real Estate
1560 Broadway, Suite 925
Denver, CO 80202
ph (303) 894-5953

CO Mortgage Broker License
As of January 1, 2007 all Mortgage Brokers must be licensed. Click here to see possible exemptions. Brokers must be licensed as supervised lenders only if the supervised loans are closed in the broker's name or the broker appears as the creditor to whom the debt is originally payable, regardless of whether the loan is funded by or immediately assigned to a mortgage lender or other financing source. If the broker puts the buyer and lender together and the broker's name does not appear as the creditor or lender, the broker does not need a supervised lender license.

 

Key Requirements:

  • $200 filing fee
  • Fingerprint Cards and Fee
  • $25,000 Surety Bond
CT
Department of Banking
Consumer Credit Division
260 Constitution Plaza
Hartford, CT 06103-1800
ph (860) 240-8200
fax (860) 240-8178

CT First Mortgage Broker License

First Mortgage Broker is defined to mean "a person who for a fee, commission, or other valuable consideration, directly or indirectly, negotiates, solicits, arranges, places or finds a first mortgage loan that is to be made by a mortgage lender, whether or not the mortgage lender is required to be licensed under sections 36a-485 to 36a-498,
inclusive,as amended by this act."

 

Key Requirements:

  • $400 filing fee
  • $40,000 Surety Bond
  • $25,000 Net Worth
  • $100 per Loan Originator

CT Secondary Mortgage Broker License

Key Requirements:

  • $400 filing fee
DC
Department of Insurance, Securities,
and Banking
Non-Depository Licensing Division

810 1st Street, NE, Suite 701
Washington, DC 20002
ph (202) 727-8000
fax (202) 535-1196

DC Mortgage Broker License

Key Requirements:

  • $1100 filing fee
  • Year End Audited Financials
  • $12,500 Surety Bond
  • Company Credit Report
  • Depository Institution Certification
DE

Office of the State Bank Commissioner
555 E. Loockerman Street
Suite 210
Dover, DE 19901
ph (302) 739-4235
fax (302) 739-3609

DE Mortgage Loan Broker License

Key Requirements:

  • $250 filing fee
  • $25,000 Surety Bond
  • Company References (click for more info)
FL

Office of Financial Regulation
200 East Gaines Street
Tallahassee, FL 32399-0376
ph (850) 410-9895
fax (850) 410-9882

FL Mortgage Broker License
A Mortgage Broker is a natural person who is at least 18 years of age. To be eligible to receive compensation, a mortgage broker must be an associate of a Mortgage Brokerage Business and cannot be an associate of more than one Mortgage Brokerage Business at the same time. An associate mortgage broker can be an employee or an independent contractor and must prominately display his license in the office where he acts as a Mortgage Broker

 

Key Requirements:

  • $200 filing fee
  • Evidence of Education
  • Fingerprint Cards and Fees
  • Florida Exam

FL Mortgage Broker Business License
A Mortgage Brokerage Business is authorized to solicit mortgage loans on behalf of a borrower, to accept an application, and to negotiate terms and conditions of a mortgage loan on behalf of a lender. Each Mortgage Brokerage Business must have a licensed mortgage broker designated as the principal broker at the main office in this state and one designated as the branch broker at each permitted branch location. The entity applying for a license may be an individual (sole proprietor), a corporation or a partnership.

 

Key Requirements:

  • $425 filing fee
  • Fingerprint Cards and Fees
  • Florida Exam
  • $200 fee per Mortgage Broker Individual
GA
Department of Banking and Finance
2990 Brandywine Road, Suite 200
Atlanta, GA 30341-5565
Phone: (770) 986-1633 or
Toll Free: (888) 986-1633
Fax: (770) 986-1654

GA Residential Mortgage Broker License

Key Requirements:

  • $750 filing fee
  • $50,000 Surety Bond
  • Physical Office
  • Fingerprint Cards and Fees
  • Evidence of Education
  • Experience Verification (see note)
  • Credit Reports
HI
Professional and Vocational Licensing, Department of Commerce and Consumer Affairs
P.O. Box 3469
Honolulu, HI 96801
ph (808) 586-3000

HI Mortgage Broker License
In a corporation, an officer or employee shall be the designated principal through the attached "Designated Principal Mortgage Solicitor" form (MB-11). A $25 application fee, releasing/ employing letter, and $10 reissuance fee are required if solicitor is licensed. The designated principal shall be a current licensed mortgage solicitor with a minimum of two years of primary or subordinate mortgage financing experience.

Key Requirements:

  • $320, $195, $145, and $35 fees
  • $15,000 Surety Bond
  • Physical Office (must conform with the permitted use under the zoning code of the county government
IA
Division of Banking
200 East Grand Ave, Suite 300
Des Moines, IA 50309
ph (515) 281-4014
fax (515) 281-4862

IA Mortgage Broker License
A mortgage broker license authorized the licensee to arrange or negotiate, or attempt to arrange or negotiate, first mortgage loans or commitments for such loans on residential real property located in Iowa. Please be aware that if the loan documents list you as the lender, you will need a mortgage banker license. Iowa Code does not authorize mortgage brokers to make loans in Iowa, therefore, they cannot be listed as the lender on the loan documents. Also, note mortgage bankers and brokers have a legal requirement to deliver financial statements certified by an independent accounting firm within 120 days after the end of the company's fiscal year. We require "audited" financial statements for mortgage bankers and either "audited" or "reviewed" financial statements for mortgage brokers.


Key Requirements:

  • $500 filing fee
  • $50,000 surety Bond
  • Fingerprint Cards and Fees
  • Company Financials (doesn’t require Audited Financials)
ID
Department of Finance
800 Park Blvd., Suite 200
Boise, ID 83712
P.O. Box 83720
Boise, ID 83720-0031
ph (208) 332-8000

ID Mortgage Broker License
For possible exemption information, click here.


Key Requirements:

  • $350 filing fee
  • $25,000 Surety Bond
  • $10,000 Individual Surety Bond for each Loan Originator
  • Loan Originator Fee
IL
Division of Banks and Real Estate
500 East Monroe Street Suite 800
Springfield, IL 62701
ph (217) 782-3000

IL Residential Mortgage License
Out-of-state brokers must either maintain a physical presence in Illinois with a full-service office or meet the criteria of a mortgage banker.

Key Requirements:

  • $1500 filing fee
  • $20,000 Surety Bond
  • $100,000 Fidelity Bond
  • IL Loan Officer Exam
  • Additional $1200 filing fee upon approval
IN
Secretary of State
Securities Division

302 W. Washington St. Room E-111
Indianapolis, IN 46204
ph (317) 232-6681
fax (317) 233-3675

IN Loan Broker License

Key Requirements:

  • $200 filing fee
  • $50,000 Surety Bond
  • Evidence of 24 Hours Approved Education
KS
Office of the State Bank Commissioner
Division of Consumer and Mortgage Lending

700 Jackson, Suite 300
Topeka, Kansas 66603
ph (785) 296-2266
fax (785) 296-0168

KS Mortgage Company License

Key Requirements:

  • $600 filing fee
  • Surety Bond
  • Fingerprint Cards and Fees
KY
Office of Financial Institutions
1025 Capital Center Dr, Suite 200
Frankfort, KY 40601
ph (502) 573-3390
fax (502) 573-0086

KY Mortgage Loan Broker License
For possible exemption information, click here.

Key Requirements

  • $750 filing fee
  • $50,000 Surety Bond
  • Fingerprint Cards
  • Evidence of Education
LA
Office of Financial Institutions
8660 United Plaza Blvd, Second Floor
Baton Rouge, LA 70809-7024
ph (225) 925-4660
fax (225) 925-4548

LA Mortgage Broker License
For possible exemption information, click here.

Key Requirements

  • $400 filing fee
  • $50,000 Surety Bond
  • Fingerprint Cards and Fees
  • Loan Originator Agreement and $100 Fee
  • Audited Financials
  • Evidence of Education
MA
Division of Banks
One South Station
Boston, MA 02110
ph (617) 956-1500
fax (617) 956-1599

MA Mortgage Broker License

Key Requirements

  • $115 filing fee
  • References
  • Credit Reports
MD
Commissioner of Financial Regulation
Consumer Credit Licensing

500 North Calvert Street, Suite 402
Baltimore, MD 21202
ph (410) 230-6100
fax (410) 333-3866

MD Mortgage Broker License

Key Requirements

  • $1100 filing fee
  • Surety Bond (bond amount depends on loan volume)
  • Fingerprint Cards and Fees
  • Credit Report

For important information regarding MD Loan Officers, click here.

See note regarding physical office requirement.

FAQ regarding MD licensing and possible exemptions

ME

Department of Professional & Financial Regulation
Office of Consumer Credit Regulation

35 State House Station
Augusta, Maine 04333
ph (800) 332-8529
fax (207) 582-7699

ME Loan Broker License

Key Requirements

  • $400 filing fee
  • $25,000 Surety Bond
  • References
MI
Office of Financial and Insurance Services
Ottawa Building, 3rd Floor
611 W. Ottawa
Lansing, MI 48933-1070
ph (517) 373-0220
fax (517) 335-4978

MI 1st Mortgage Broker License

Key Requirements

  • $500 filling fee
  • $450 Investigation fee
  • $25,000 Surety Bond

MI 2nd Mortgage Broker License

Key Requirements

  • $350 filling fee
  • $25,000 Surety Bond
  • Copies of Federal Mortgage Licenses (HUD, FNMA)
  • Stock certificate
MN
Department of Commerce
85 7th Place East, Suite 500
St. Paul, MN 55101
ph (800) 657-3978
fax (651) 284-4107

MN Mortgage Originator License

Key Requirements

  • $425 filing fee
  • $50,000 Surety Bond (possible exemption)
  • Workers Comp (possible exemption)
MO
Division of Finance
301 W. High Street #630
Jefferson City, MO 65102
ph (573) 751-3242
fax (573) 751-9192

MO Mortgage Broker License

Key Requirements

  • $300 filing fee
  • $300 Investigation Fee
  • $20,000 Surety Bond
  • Physical Office
MS
Office of Banking and Consumer Finance
501 N. West Street
901 Woolfolk Building Suite A
Jackson, MS 39225-3729
ph (601) 359-1031
fax (601) 359-3557

MS Mortgage Company Broker License

Key Requirements

  • $750 filing fee
  • Fingerprint Cards
  • $25,000 Surety Bond
  • Loan Officer Fee
MT
Banking and Financial Institutions
PO Box 200546
Helena, MT 59620-0546
ph (406) 841-2920

MT Mortgage Broker License

Key Requirements

  • $500 filing fee
  • Loan Officer fee
  • $25,000 Surety Bond
  • Fingerprint Cards and Fees
  • Evidence of Education
  • Physical office
NC

Commissioner of Banks
316 W. Edenton Street
Raleigh, NC 27603
ph (919) 733-3016
fax (919) 733-6918

Mailing Address:
4309 Mail Service Center
Raleigh, NC 27699-4309

NC Mortgage Broker License

Key Requirements:

  • $1875 filing fee
  • $50,000 Surety Bond
  • Physical Office
  • Loan Officer Application, Exam, and $101.25 fee for Office Manager
  • Fingerprint Cards and Fees
ND
Department of Financial Institutions
2000 Schafer Street, Suite G
Bismarck, ND 58501-1204
ph (701) 328-9933
fax (701) 328-9933
email: dfi@nd.gov

ND Money Broker License

Key Requirements:

  • $700 filing fee
  • $25,000 Surety Bond
  • List of ND Lenders

See ND Governing Code

NE

Department of Banking & Finance
Commerce Court
1230 'O' Street, Suite 400
Lincoln, NE 68508-1402
ph (402) 471-2171

Mailing Address:
P.O. Box 95006
Lincoln, NE 68509-5006

NE Mortgage Banker License

Key Requirements:

  • $400 filing fee
  • $100,000 Surety Bond
NH
BANKING DEPARTMENT
64b Old Suncook Road
Concord, NH 03301
ph (603) 271-3561
fax (603) 271-1090
email: NHBD@banking.state.nh.us

NH Mortgage Broker License

Key Requirements:

  • $500 filing fee
  • $20,000 Surety Bond
  • Fingerprint Cards and Fees
  • List of individuals acting as originators
NJ
Department of Banking and Insurance
Division of Banking

P.O. Box 040
Trenton, NJ 08625
ph (609) 292-7272
fax (609) 633-0822
email: blic@dobi.state.nj.us

NJ Mortgage Broker License

Key Requirements:

  • $2,100 filing fee
  • $100,000 Surety Bond
  • Physical Office
  • Audited Financials
  • Evidence Education
  • Fingerprint Cards and Fees
NM
Financial Institutions Division
2550 Cerrillos Road, 3rd Floor,
Santa Fe, NM 87505
ph (505) 476-4885
fax (505) 476-4670
email: FID@state.nm.us

NM Mortgage Loan Broker

Key Requirements:

  • $400 filing fee
  • $25,000 Surety Bond
NV

Mortgage Lending Division
Carson City - Licensing Office
400 W King Street, Suite 101
Carson City, Nevada 89703
ph (775) 684-7060
fax (775) 684-7061

Las Vegas Office
3075 E. Flamingo #100
Las Vegas, Nevada 89121
ph (702) 486-0780
fax (702) 486-0785

NV Mortgage Broker License

Key Requirements:

  • $1500 filing fee
  • Physical Office
  • Fingerprint Cards
  • Qualified Employee
  • Company Financials

See NV Governing Code
See Exemption Information

NY
State Banking Department
One State Street
New York, NY 10004-1417
ph (212) 709-5574
fax (212) 709-5555

NY Mortgage Broker License

Key Requirements:

  • $1500 filing fee
  • $10,000 Surety Bond
  • Fingerprint Cards and Fees
  • Workers Comp
  • Credit Reports
  • Name Approval
OH
Department of Commerce
Division of Financial Institutions

77 South High Street, 21st Floor
Columbus, OH 43215-6120
ph (614) 728-8400
email: webdfi@dfi.com.state.oh.us

OH Mortgage Broker License

Key Requirements:

  • $350 filing fee
  • Physical Office
  • $10,000 Surety Bond
  • Evidence of Education
  • National Background Check
OK

Department of Consumer Credit
4545 N. Lincoln Blvd, Suite 104
Oklahoma City, OK 73105-3413
ph (405) 521-3653
fax (405) 521-6740

OK Mortgage Broker License

Key Requirements:

  • $750, $300, and $150 fees
  • Physical Office
  • Evidence of Education

See OK Governing Code

OK Credit Services Organization License

Key Requirements:

  • $400 filing fee
  • $10,000 Surety Bond
OR

Department of Consumer & Business Services
350 Winter St. NE #410
Salem, OR 97301-3881
ph (503) 378-4140
fax (503) 947-7862

Mailing Address:
PO Box 14480
Salem, OR 97309-0405

OR Mortgage Broker License

Key Requirements:

  • $825 filing fee
  • $25,000 Surety Bond + plus $5,000 for each additional branch
  • Loan Officer designation, records check, and $60 fee
PA
Department of Banking
17 N Second Street, Suite 1300
Harrisburg, PA 17101-2290
ph (717) 214-8343
toll free (800) PA-Banks
fax (717) 214-8773

PA 1st Mortgage Broker

Key Requirements:

  • $550 filing fee
  • Record check and $10 fee
  • Physical Office
  • Fingerprint Cards
  • $100,000 Surety Bond (if applicable)

PA 2nd Mortgage Broker

Key Requirements:

  • $500 filing fee
  • Fingerprint Cards
  • Physical Office
RI
Department of Business Regulation
Division of Banking

233 Richmond Street
Providence, RI 02903
ph (401) 222-2246
fax (401) 222-6098
email: albert_smith@dbr.state.ri.us

RI Mortgage Broker

Key Requirements:

  • $275 filing fee
  • $10,000 Surety Bond
SC
Department of Consumer Affairs
3600 Forest Drive, 3rd Floor
P.O. Box 5757
Columbia, SC 29250
ph (803) 734-4200
fax (803) 734-4286

SC Mortgage Broker License

Key Requirements:

  • $200 filing fee
  • $10,000 Surety Bond
  • Physical office
SD
Division of Banking
217 1/2 West Missouri
Pierre, SD 57501-4590
ph (605) 773-3421
fax (605) 773-5367
email: bankinfo@state.sd.us

SD Mortgage Broker License

Key Requirements:

  • $365 filing fee
  • Registered Agent Confirmation
TN
Department of Financial Institutions
414 Union Street, Suite 1000
Nashville, Tennessee 37219
ph (615) 741-2236

TN Mortgage Broker License

Key Requirements:

  • $600 filing fee
  • $90,000 Surety Bond
  • Net Worth of at least $25,000
TX
Department of Savings and Mortgage Lending
2601 North Lamar Blvd. Suite 201
Austin, Texas 78705
ph (512) 475-1350
fax (512) 475-1360

TX Mortgage Broker License
In addition to authorizing home equity lines of credit, mortgage brokers were added to the list of persons authorized to make home equity loans. Previously, in order to make home equity loans, mortgage brokers had to obtain a second lien license from the Office of the Consumer Credit Commissioner. Under the constitutional amendment, brokers can make home equity loans without holding an OCCC license.

Key Requirements:

  • $395 filing fee
  • Surety Bond (if applicable)
  • Fingerprint Cards and Fees
  • Evidence of Education
Office of Consumer Credit Commissioner
2601 North Lamar Blvd
Austin, TX 78705
ph (512) 936-7600

TX Regulated Lender License

Key Requirements:

  • $200 filing fee and $430 assessment fee
  • Fingerprint Cards and Fees
UT

Division of Real Estate
Heber M. Wells Building, 2nd Floor
160 East 300 South
Salt Lake City, UT 84111
ph (801) 530-6747
fax (801) 526-4387

Mailing Address:
PO Box 146711
Salt Lake City, UT 84114-6711

UT Mortgage Lender License

Key Requirements:

  • $250 filing fee and $275 processing fee
  • Fingerprint Cards and Fees
  • Evidence of Education
  • List of loan officers
Department of Financial Institutions
324 South State Street, Suite 201
Salt Lake City, UT 84111
ph (801) 538-8830
fax (801) 538-8894

UT 2nd Mortgage Notification

Key Requirements:

  • $25 filing fee
VA
Bureau of Financial Institutions
1300 E. Main Street, Suite 800
P.O. Box 640
Richmond, Virginia 23218-0640
ph (804) 371-9657
fax (804) 371-9416

VA Mortgage Broker License
The Virginia Mortgage Lender and Broker Act of VA Code §6.1 409 et seq., VIRGINIA MORTGAGE BROKER LICENSING REQUIREMENTS
A mortgage broker who directly or indirectly negotiates, places, or finds mortgage loans for others (or offers to do such) must be licensed/ Same as Mortgage Lender Licensing Requirements (except in fees, examination schedule provisions applying to lenders) The Bureau of Financial Institutions defines mortgage brokers broadly to include, any person other than a bona
fide employee of the licensee who, for compensation, refers individuals who are seeking a mortgage loan to a lender or lenders. One of the factors considered by the Bureau when determining whether a person qualifies as a
bona fide employee is whether the licensee has withheld taxes from that person’s compensation. (Admin. Rul. 1603 (Bur. of Fin. Inst. 1990); Admin. Rul. 1605 (Bur. of Fin. Inst. 1991))


Key Requirements:

  • $500 filing fee
  • $25,000 Surety Bond
  • Business References
VT

VT Mortgage Broker License
Mortgage brokers do not include real estate brokers (not compensated) for providing mortgage assistance, Vermont attorneys acting as such, and persons engaged solely with the sale or transfer of previously originated loans. (8 V.S.A. §2200, 8 V.S.A. §2202, 8 V.S.A. §2203 )

Key Requirements:

  • $350 and $300 fees
  • $25,000 Surety Bond
  • References
WA

Department of Financial Institutions
150 Israel Rd SW
Tumwater WA 98501
ph (360) 902-8700
fax (360) 586-5068

Mailing Address:
PO Box 41200
Olympia WA 98504-1200

WA Mortgage Broker License

Key Requirements:

  • $371 filing fee
  • Surety Bond
  • Fingerprint Cards and Fees
  • Evidence of Education
WI
Department of Financial Institutions
345 W Washington Avenue
Madison, WI 53703
ph (6068) 261-9555
fax (608) 261-7200

WI Mortgage Broker License

Key Requirements:

  • $750 filing fee
  • $120,000 Surety Bond
  • Complete Loan Originator Application
WV
Division of Banking
1900 Kanawha Blvd, East
Building 3, Room #311
Charleston, WV 25305-0240
ph (304) 558-2294
fax (304) 558-0442

WV Mortgage Broker License

Key Requirements:

  • $350 filing
  • $50,000 Surety Bond
  • Fingerprint Cards and Fees
WY

Division of Banking
Herschler Building, 3rd Floor East
122 West 25th Street
Cheyenne, WY 82002
ph (307) 777-7797
fax (307) 777-3555

WY Mortgage Broker License

Key Requirements:

  • $500 filing fee
  • $25,000 + $10,000 for each additional office