How do you get a mortgage lender license?

A mortgage lender license is a company credential issued by each state regulator, filed online through the Nationwide Multistate Licensing System (NMLS) using the Company Form (MU1). Typical requirements include a business plan, formation documents, financial statements showing minimum net worth, a surety bond, and a qualifying individual. Fees and standards vary by state: Georgia charges $1,150 for a new Mortgage Lender License, Massachusetts charges $1,100, and California requires $250,000 in net worth for residential mortgage lenders, each plus NMLS processing fees.

In Alabama, a company that makes mortgage loans is licensed under the Alabama Consumer Credit Act through the State Banking Department's Bureau of Loans, with the application processed through the Nationwide Multistate Licensing System (NMLS). A mortgage broker license instead requires a $600 nonrefundable application fee, evidence of $25,000 tangible net worth, and 2 years of mortgage industry experience by a principal or executive officer within the previous 4 years. Any principal who originates loans must also hold an individual mortgage loan originator (MLO) license.

To lend on Alaska properties, a company needs a Mortgage Broker/Lender license from the Alaska Division of Banking and Securities, filed through the Nationwide Multistate Licensing System (NMLS). The application requires a $500 application fee, a $1,000 license fee, a $75,000 electronic surety bond, and an unaudited financial statement. The company must also hold an Alaska business license, maintain a registered agent and office in the state, and identify two control persons.

In Arizona, you need a loan originator license from the Arizona Department of Insurance and Financial Institutions (DIFI), filed through NMLS. You must complete 20 hours of NMLS-approved education that includes 4 hours of Arizona law, pass the SAFE MLO test, submit fingerprints, authorize a credit report, and file the MU4 form. Your employer must sponsor you before you begin originating loans, and DIFI must grant or deny the license within 120 days of a completed application.

In Arkansas, the Securities Department licenses mortgage companies under the Fair Mortgage Lending Act. The company files its application through the Nationwide Mortgage Licensing System and Registry (NMLS&R) in a form approved by the commissioner, with all licensing fees submitted through NMLS&R. A mortgage banker applicant must provide audited financial statements and maintain a net worth of at least $25,000, and it must post a surety bond of $100,000, which rises to $150,000 or $200,000 based on prior-year Arkansas loan volume.

In California, a mortgage lender license is a company license issued by the Department of Financial Protection and Innovation (DFPI) under the California Financing Law or the California Residential Mortgage Lending Act, and applications are filed through NMLS. A Residential Mortgage Lending Act lender must show $250,000 in tangible net worth, hold a $50,000 surety bond, and pay $1,100 in filing fees. Finance Law lenders that make residential mortgage loans must also maintain $250,000 in net worth.

In Colorado, a lender or broker entity registers rather than licenses: any person other than an individual who takes residential loan applications or negotiates loan terms must register on the NMLS and be in good standing with the Colorado Secretary of State. The Colorado Division of Real Estate administers the registration, with a $12 application fee as of September 30, 2026. The company registration is separate from the individual mortgage loan originator license each originating employee must hold.

A Connecticut mortgage lender license is issued by the Department of Banking and filed exclusively through NMLS using the company (MU1), control person (MU2), branch (MU3), and loan originator (MU4) forms. The company must show minimum tangible net worth of $250,000 and have a qualified individual and each branch manager with at least 3 years of mortgage business experience in the preceding 5 years who holds an MLO license. It must also file a surety bond of at least $100,000 electronically on NMLS, rising with loan volume.

The Mortgage Lender license is a company license administered by DISB through the NMLS Resource Center. The company files through NMLS, pays fees prescribed by the Commissioner, and must maintain a surety bond in an amount set by rule under D.C. Code § 26-1103(i) and 26-C DCMR § 1109. DISB must approve or deny the application within 60 days after the application, bond, and fees are filed (D.C. Code § 26-1104). Pre-license education and testing requirements apply to individual MLOs, not to the company license.

To get a Florida mortgage lender license, an entity files through the Nationwide Mortgage Licensing System (NMLS), designates a principal loan originator who holds an active Florida loan originator license, and pays a $500 nonrefundable application fee plus a $100 Mortgage Guaranty Trust Fund fee. The applicant must submit an audited financial statement documenting a net worth of at least $63,000, or $250,000 with a servicing endorsement. Each control person must submit fingerprints for state and FBI checks and authorize an independent credit report.

You obtain a Georgia Mortgage Lender License by filing through the Nationwide Multistate Licensing System (NMLS), where the Georgia Department of Banking and Finance reviews the application. The new application fee is $1,150 plus NMLS fees, which the fee rule breaks down as a $900 license fee plus a $250 initial investigation fee, and each Georgia branch approval costs $330 plus NMLS fees. A broker funding loans through warehouse lines is treated as a lender and must apply for this license and carry the required surety bond.

A residential mortgage lender in Hawaii is licensed as a mortgage loan originator company (MLOC). The company files Form MU1 through NMLS, designates a Qualifying Individual who holds a Hawaii MLO license, and maintains a principal place of business in Hawaii. State fees include a $900 initial application fee for the principal office plus a $300 Mortgage Loan Recovery Fund fee, and MLOCs must file quarterly mortgage call reports with NMLS within 45 days of each quarter's end.

In Idaho, a mortgage lender license is a company license issued by the Idaho Department of Finance through NMLS, separate from the individual mortgage loan originator license. Applicants must demonstrate financial responsibility, character, and fitness under Idaho Code 26-31-206(2)(a) and file unaudited financial statements through NMLS; start-up companies file only an initial Statement of Condition or a Balance Sheet. The Department evaluates ratios such as the current ratio, liabilities to assets, tangible net worth, and equity depletion when reviewing the application.

To obtain the Illinois Residential Mortgage License (the company-level license), you apply through NMLS and pay IDFPR $2,700, made up of a $1,500 investigation fee plus a $1,200 license fee; renewal is $2,700 each year, and NMLS processing fees are additional. You must also file an electronic surety bond in NMLS of at least $25,000, scaling up to $150,000 based on the dollar volume of Illinois residential mortgage loans originated the prior year. IDFPR does not license out-of-state branches.

A mortgage lender license in Indiana is a company-level license from the Department of Financial Institutions (DFI), processed by its Consumer Credit Division through the Nationwide Multistate Licensing System (NMLS), with checklists available at the NMLS Resource Center. Indiana rule 750 IAC 9 requires each licensed creditor to be covered by a surety bond, and the individuals who originate its loans must hold MLO licenses. The department sets the application, renewal, and examination fees under Indiana Code 28-11-3-5.

To lend in Iowa, a company needs a mortgage banker license from the Iowa Division of Banking, filed through the Nationwide Multistate Licensing System (NMLS). Lending authority is required at four or more loans per calendar year secured by owner-occupied Iowa residential real property. The application requires fingerprints and FBI background checks for each officer, director, and person in control, a $500 initial license fee plus $40 per branch location, and a surety bond of $100,000 for loan volumes up to $100,000,000, or $150,000 above that.

Kansas does not issue a separate lender license; lenders and brokers hold the same Mortgage Company License under the Kansas Mortgage Business Act, issued by the Office of the State Bank Commissioner through the Nationwide Multistate Licensing System (NMLS). The company pays a $400 application fee for its principal place of business and a $250 initial license fee, posts a surety bond of $50,000 to $125,000 depending on office location and origination volume, and must maintain a positive net worth. Company licensees also file an annual Mortgage Call Report with a state supplemental form.

To obtain a Kentucky mortgage loan company license, the business files a Nationwide Multistate Licensing System (NMLS) Company Form, individual forms for control persons, an audited financial statement or startup statement of condition, a surety bond of at least $250,000, certified organizational documents, and a Kentucky Secretary of State Certificate of Authority dated within 60 days. The licensing fee is $2,500, which covers all licensed locations, and the company must renew by November 30 each year.

A mortgage lender license in Louisiana is a company license issued by the Office of Financial Institutions (OFI) through the Nationwide Multistate Licensing System (NMLS). The company applies through NMLS, pays a $500 application fee, and provides a surety bond based on prior-calendar-year loan volume: $25,000 for up to $99,999,999 and $50,000 for $100,000,000 or more. OFI's fee schedule also lists a $400 examination fee per office location, and the annual renewal fee for lenders, brokers, and servicers is $400.

In Maine, mortgage lenders and servicers need the supervised lender license from the Bureau of Consumer Credit Protection, and applications are filed through NMLS. The application fee is $300 per license, and the renewal fee is $100 per main office or branch. The license covers anyone who makes, takes assignment of, or services consumer loans with a finance charge above 12 1/4% per year or secured by an interest in real estate.

A Maryland mortgage lender license is a company-level license issued by the Office of Financial Regulation through NMLS. It covers lender, broker, and servicer activity, and the licensed company sponsors the individual mortgage loan originators who work under it. The applicant must have a principal executive office engaged in the mortgage lending business, and locations other than the principal office are disclosed to the Commissioner rather than separately licensed, a rule effective July 1, 2023.

A mortgage lender license in Michigan is a company license under the Mortgage Brokers, Lenders, and Servicers Licensing Act (1987 PA 173), administered by the Department of Insurance and Financial Services. You file the application through NMLS, and company surety bonds are submitted through NMLS's electronic bond function rather than mailed to the state. A lender license alone does not allow anyone to originate loans; each individual who originates must also hold an MLO license.

To get a mortgage lender license in Minnesota, you apply for the Residential Mortgage Originator company license from the Department of Commerce through NMLS. Requirements include business registration with the Minnesota Secretary of State, a $125,000 surety bond, and demonstrated experience. The initial fee is $1,000 and the annual renewal is $500. An incomplete application is considered withdrawn after 6 months.

Apply for the mortgage lender company license through NMLS with the Mississippi Department of Banking and Consumer Finance. The initial license fee is $2,000, and an initial applicant must furnish a $250,000 surety bond. The company must also name a qualifying individual, an owner or employee with at least 2 years of mortgage experience, and submit a business plan, company policies, and proof of commercial zoning for any in-state locations.

A company that brokers, funds, services, or purchases residential mortgage loans in Missouri needs a residential mortgage loan broker license from the Division of Finance, applied for through NMLS. The applicant must maintain a full-service Missouri office open to the public, hold a surety bond of at least $50,000 scaled to loan volume, and pass criminal background and credit investigations on all owners and others who influence management. Fees are a one-time $300 application and investigation charge plus a $600 annual license fee.

A Montana mortgage lender license is obtained through NMLS. The lender must maintain a minimum net worth of $250,000, evidenced by financial statements reviewed by a certified public accountant, and carry a surety bond of $25,000, $50,000, or $100,000 depending on annual loan volume. The lender must also designate a licensed mortgage loan originator as designated manager, and that person must have 3 years of MLO experience. The application fee is $750 per entity, plus $250 for each branch office.

A mortgage lender license in Nebraska is a company-level mortgage banker license issued by the Nebraska Department of Banking and Finance through NMLS. The company files a Form MU1, pays a $400 application fee plus $75 for each branch office, and files a surety bond starting at $100,000 that also covers its mortgage loan originators. Individuals who originate loans for the company must hold their own Mortgage Loan Originator licenses.

A mortgage lender in Nevada obtains a mortgage company license from the Nevada Division of Mortgage Lending by filing through NMLS and paying a $1,200 application fee. The company posts an electronic surety bond sized to its annual loan production, submits financial statements showing minimum net worth, and maintains an Information Security Program. Each licensed location must have a Qualified Employee, a licensed MLO with verifiable lending experience, on-site most public hours. The office must be a physical Nevada location; virtual and home-based offices are prohibited.

Mortgage banker, broker, and servicer licenses in New Hampshire are issued through NMLS. A new mortgage broker application requires $25,000 in positive net worth maintained at all times, an electronic surety bond filed through NMLS, and a qualifying individual employed full-time in a supervisory capacity with at least 3 of the preceding 5 years in the mortgage business. The filing also needs formation documents, a business plan, an AML/BSA policy, and financial statements attested under penalty of unsworn falsification.

A mortgage lender license in New Jersey is a business license issued by the Department of Banking and Insurance under the Residential Mortgage Lending Act. The company files Form MU1 through NMLS with a $1,200 application fee, obtains a $150,000 surety bond, and names a Qualified Individual who files Form MU4 and meets all mortgage loan originator licensing criteria. Each branch location files Form MU3, with a $1,000 New Jersey application fee per branch.

New Mexico issues mortgage lender licenses through the Financial Institutions Division, using the NMLS. The company must designate a Qualified Individual who holds a New Mexico MLO license in Approved status and has 2 years of relevant experience within the preceding 4 years, must maintain an initial surety bond of $50,000, and must submit a financial statement dated within 90 days of fiscal year end. The application, license, and supervisory fees are $500 each.

A company that funds mortgage loans directly in New York needs a mortgage banker license from the New York State Department of Financial Services (DFS), not a broker registration. The original license fee is $3,000 under Banking Law section 591.2, with $500 for each branch license. Applications are filed through the Nationwide Multistate Licensing System (NMLS), and the company must sponsor each individual who originates loans as a licensed mortgage loan originator.

To obtain a North Carolina mortgage lender license, a company applies through NMLS and pays a $1,250 application fee to the NC Office of the Commissioner of Banks. The company must designate a qualifying individual with at least 3 years of residential mortgage lending experience, maintain a surety bond of at least $150,000 (adjusted annually by origination volume), and meet financial responsibility requirements. If the lender has no branch offices, its qualifying individual must also be licensed as a mortgage loan originator.

A mortgage company in North Dakota obtains a money broker license from the Department of Financial Institutions by filing through NMLS. The company must show a net worth of $25,000, file a $50,000 surety bond (raised from $25,000 effective August 1, 2019), and designate a Qualifying Individual with a credit report and background check. Fees are a $400 initial application fee, a $400 annual license fee, and $50 per branch location, and the state does not require a physical presence.

In Oklahoma, a mortgage lender license is a company license issued by the Oklahoma Department of Consumer Credit (DOCC) through the Nationwide Multistate Licensing System (NMLS). The company must file a $100,000 surety bond, hold a minimum net worth of $25,000, and submit audited financial statements plus a Certificate of Authority from the Oklahoma Secretary of State. A Qualifying Individual must hold, or be applying for, an Oklahoma mortgage loan originator license. DOCC states the license can be issued within 60 days after it receives a complete application and all fees.

A mortgage lender license in Oregon is a company license, applied for through NMLS using the company form rather than the individual Form MU4. New licensee companies must provide a $50,000 surety bond, and at renewal the bond amount is recalculated from the prior four quarters of mortgage call reports, ranging from $50,000 for originations under $10 million to $200,000 above $100 million. Companies use surety bond form 440-2775, obtainable through an insurance agent.

The Pennsylvania Department of Banking and Securities issues mortgage lender licenses to companies through NMLS. The application fee is $1,500 for the principal place of business plus $1,500 per branch, and the company must carry a surety bond of $100,000 to $500,000 depending on its annual Pennsylvania origination volume. The Department must issue or refuse a license within 60 days after receiving a completed application.

You file a company application (Form MU1) through NMLS with the Rhode Island Department of Business Regulation. The application requires a Qualifying Individual who holds an active Rhode Island MLO license, is a W-2 employee, and is physically present at the licensed location for the majority of operating hours. You must also post a $50,000 surety bond as a lender, upload financial statements and a certificate of good standing from the Rhode Island Secretary of State, and submit credit reports for directors, executive officers, and owners with 10% or more direct ownership.

A mortgage lender license in South Carolina is issued by the State Board of Financial Institutions, Consumer Finance Division, and applications are submitted through NMLS. The filing fee is $1,000, plus the actual cost of credit reports and fingerprint-based criminal history checks. The lender must also post a surety bond of $50,000 for loan volume below $50 million, rising to $100,000 or $150,000 at higher volumes. Each branch office requires a $150 fee, and a loan originator's residence more than 75 miles from a commercial branch may be licensed as a branch office.

In South Dakota, mortgage lender licenses are issued by the Division of Banking of the Department of Labor and Regulation. You must apply through NMLS with a unique identifier, furnish fingerprints for an FBI criminal history check, authorize an independent credit report, and maintain a surety bond of at least $25,000. The initial license fee may not exceed $1,000, and the license expires on December 31 of the year after it is issued.

A Tennessee mortgage lender license is a company license issued by the Tennessee Department of Financial Institutions. The company applies through NMLS, must show at least 3 years of relevant mortgage industry experience within the 5 years before applying (demonstrated through its designated managing principal), and must file a $200,000 surety bond. After the first renewal cycle, the bond is tiered by prior-year Tennessee residential loan volume: $100,000 under $10 million, $200,000 at $10 million to under $50 million, and $300,000 at $50 million or more.

Mortgage lender licenses in Texas are filed online through NMLS with the Texas Department of Savings and Mortgage Lending. Under the fee schedule effective November 1, 2024 (unchanged for fiscal year 2027), the Mortgage Company License new application fee is $325 with a $275 annual renewal, and the Mortgage Banker Registration carries the same amounts. The company must also sponsor its originators in NMLS; a company with no sponsored originators reverts to Approved-Inactive status and must not conduct regulated activities.

A mortgage lending company registers in Utah through the Nationwide Multistate Licensing System (NMLS). You file an MU1 form naming your Principal Lending Manager as the qualifying individual, register branch offices on MU3 forms, create mortgage loan originator sponsorships through NMLS, and pay the required fees through NMLS. All mortgage licenses in Utah must be applied for through NMLS, and fees are nonrefundable.

The Vermont Department of Financial Regulation issues lender licenses through NMLS. The initial application costs $2,100 total: a $1,000 license fee, a $1,000 investigation fee, and a $100 NMLS processing fee. Applicants must be licensed and in good standing in their state of domicile, prove $25,000 in liquid assets ($50,000 for commercial lending), post a minimum $50,000 surety bond, and record a registered agent with the Vermont Secretary of State.

A mortgage lender license in Virginia is a company-level license under Chapter 16 of Title 6.2, separate from the individual mortgage loan originator license. The company files its application through NMLS and must post a surety bond of at least $25,000, or a greater amount if the Commissioner requires it, and maintain the bond continuously. That company bond can also cover the lender's employee and exclusive-agent MLOs.

In Washington, a mortgage lender obtains a Consumer Loan Company license from the Department of Financial Institutions, and all applications are filed through NMLS. The company must have a $30,000 electronic surety bond issued through NMLS before filing, pay a $1,162.21 main office licensing fee, and authorize a credit report and criminal background check for each control person. Companies that broker or lend residential mortgages must also sponsor licensed mortgage loan originators.

A West Virginia mortgage lender license is applied for through NMLS by filing with the Division of Financial Institutions. The applicant pays a $1,250 license fee plus fingerprint processing costs and NMLS processing fees, and must document tangible net worth of at least $250,000. A surety bond is also required, tiered by annual West Virginia originations: $100,000 for up to $3 million, $150,000 over $3 million up to $10 million, and $250,000 over $10 million. The license expires December 31 each year, and renewal applications are due no later than 60 days before expiration.

In Wisconsin, a mortgage lender applies for a Mortgage Banker License through the Nationwide Multistate Licensing System and Registry (NMLS), which permits originating, selling, and servicing residential mortgage loans. The company pays a $1,000 application fee and must maintain a minimum net worth of $250,000. It must also submit audited financial statements annually, no later than six months after fiscal year end, and a banker that also brokers loans must obtain a separate Mortgage Broker License.