What licenses are needed to start a mortgage brokerage business?
You need a company-level mortgage broker license from each state where you will do business, filed through the Nationwide Multistate Licensing System (NMLS) using the Company Form (MU1). Common requirements include a surety bond or minimum net worth (amounts vary by state), a qualifying individual, a business plan, fingerprints and credit reports for control persons, and separate branch approval for additional office locations. Every originator you employ must hold an individual mortgage loan originator license and be sponsored by your company.
Some jurisdictions in AL require general licenses for any business operating there. To get a license, register your business with the Alabama Secretary of State.
Starting an independent mortgage brokerage business in Alabama will require that you complete the process of obtaining a AL Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in AK require general licenses for any business operating there. To get a license, register your business with the Alaska Division of Corporations.
Starting an independent mortgage brokerage business in Alaska will require that you complete the process of obtaining a AK Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in AZ require general licenses for any business operating there. To get a license, register your business with the Arizona Corporation Commission.
Starting an independent mortgage brokerage business in Arizona will require that you complete the process of obtaining a AZ Mortgage Broker license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in AR require general licenses for any business operating there. To get a license, register your business with the Arkansas Secretary of State.
Starting an independent mortgage brokerage business in Arkansas will require that you complete the process of obtaining a AR Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in CA require general licenses for any business operating there. To get a license, register your business with the California Secretary of State and obtain a Certificate of Authority or Good Standing Certificate.
Starting an independent mortgage brokerage business in California will require that you complete the process of obtaining either a CA Financing Law License or a Residential Mortgage Lending Act License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in CO require general licenses for any business operating there. To get a license, register your business with the Colorado Secretary of State.
Starting an independent mortgage brokerage business in Colorado will require that you complete the process of obtaining a CO Mortgage Company Registration for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in CT require general licenses for any business operating there. To get a license, register your business with the Connecticut Secretary of State.
Starting an independent mortgage brokerage business in Connecticut will require that you complete the process of obtaining a CT Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in DE require general licenses for any business operating there. To get a license, register your business with the Delaware Secretary of State.
Starting an independent mortgage brokerage business in Delaware will require that you complete the process of obtaining a DE Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
To run a brokerage, you need the DC Mortgage Broker company license issued by the Department of Insurance, Securities and Banking (DISB) through NMLS; DISB also issues Mortgage Lender and Dual Authority licenses if your company will broker and lend. The company must file and continuously maintain a surety bond under D.C. Code § 26-1103(i) and 26-C DCMR § 1109. Each loan originator you employ must hold an individual DC MLO license and be sponsored by your company, which covers them under your company's bond.
Sources: NMLS: District of Columbia State-Specific Education Requirements (PE and CE) for MLOs; D.C. Code § 26-1103: License Requirements.
Some jurisdictions in FL require general licenses for any business operating there. Starting an independent mortgage brokerage business in Florida will require that you complete the process of obtaining a FL Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in GA require general licenses for any business operating there. To get a license, register your business with the GA Secretary of State and obtain a Certificate of Authority.
Starting an independent mortgage brokerage business in Georgia will require that you complete the process of obtaining a GA Mortgage Broker Registration for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in HI require general licenses for any business operating there. To get a license, register your business with the Hawaii Department of Commerce and Consumer Affairs.
Starting an independent mortgage brokerage business in Hawaii will require that you complete the process of obtaining an HI Mortgage Loan Originator Company License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in ID require general licenses for any business operating there. To get a license, register your business with the Idaho Secretary of State.
Starting an independent mortgage brokerage business in Idaho will require that you complete the process of obtaining a ID Mortgage Broker/Lender for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in IL require general licenses for any business operating there. To get a license, register your business with the Illinois Secretary of State.
Starting an independent mortgage brokerage business in Illinois will require that you complete the process of obtaining a IL Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in IN require general licenses for any business operating there. To get a license, register your business with the Indiana Secretary of State.
Starting an independent mortgage brokerage business in Indiana will require that you complete the process of obtaining a IN Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in IA require general licenses for any business operating there. To get a license, register your business with the Iowa Division of Corporations.
Starting an independent mortgage brokerage business in Iowa will require that you complete the process of obtaining a IA Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in KS require general licenses for any business operating there. To get a license, register your business with the Kansas Secretary of State.
Starting an independent mortgage brokerage business in Kansas will require that you complete the process of obtaining a KS Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in KY require general licenses for any business operating there. To get a license, register your business with the Kentucky Secretary of State.
Starting an independent mortgage brokerage business in Kentucky will require that you complete the process of obtaining a KY Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in LA require general licenses for any business operating there. To get a license, register your business with the Louisiana Secretary of State.
Starting an independent mortgage brokerage business in Louisiana will require that you complete the process of obtaining a LA Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in ME require general licenses for any business operating there. To get a license, register your business with the Maine Secretary of State.
Starting an independent mortgage brokerage business in Maine will require that you complete the process of obtaining a ME Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in MD require general licenses for any business operating there. To get a license, register your business with the Maryland Department of Assessments and Taxation.
Starting an independent mortgage brokerage business in Maryland will require that you complete the process of obtaining a MD Mortgage Lender License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in MA require general licenses for any business operating there.
Starting an independent mortgage brokerage business in Massachusetts will require that you complete the process of obtaining a MA Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in MI require general licenses for any business operating there. To get a license, register your business with the Michigan Corporation Division.
Starting an independent mortgage brokerage business in Michigan will require that you complete the process of obtaining a MI Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in MN require general licenses for any business operating there. To get a license, register your business with the Minnesota Secretary of State.
Starting an independent mortgage brokerage business in Minnesota will require that you complete the process of obtaining a MN Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in MS require general licenses for any business operating there. To get a license, register your business with the Mississippi Secretary of State.
Starting an independent mortgage brokerage business in Mississippi will require that you complete the process of obtaining a MS Mortgage Broker license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in MO require general licenses for any business operating there. To get a license, register your business with the Missouri Secretary of State.
Starting an independent mortgage brokerage business in Missouri will require that you complete the process of obtaining a MO Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in MT require general licenses for any business operating there. To get a license, register your business with the Montana Secretary of State.
Starting an independent mortgage brokerage business in Montana will require that you complete the process of obtaining a MT Mortgage Broker license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in NE require general licenses for any business operating there. To get a license, register your business with the Nebraska Secretary of State.
Starting an independent mortgage brokerage business in Nebraska will require that you complete the process of obtaining a NE Mortgage Banker license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in NV require general licenses for any business operating there. To you will need to contact the Nevada Secretary of State.
Starting an independent mortgage brokerage business in Nevada will require that you complete the process of obtaining an NV Mortgage Broker License for your company or yourself as a broker, and a MLO license which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in NH require general licenses for any business operating there. To get a license, register your business with the New Hampshire Secretary of State.
Starting an independent mortgage brokerage business in New Hampshire will require that you complete the process of obtaining a NH Mortgage Broker license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in NJ require general licenses for any business operating there. To get a license, register your business with the New Jersey Department of Treasury.
Starting an independent mortgage brokerage business in New Jersey will require that you complete the process of obtaining a NJ Residential Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in NM require general licenses for any business operating there. To get a license, register your business with the New Mexico Secretary of State.
Starting an independent mortgage brokerage business in New Mexico will require that you complete the process of obtaining a NM Mortgage Loan Company license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in NY require general licenses for any business operating there. To get a license, register your business with the NYS Department of Taxation and Finance and obtain a Certificate of Authority.
Starting an independent mortgage brokerage business in New York will require that you complete the process of obtaining a NY Mortgage Broker Registration for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in NC require general licenses for any business operating there. To get a license, register your business with the North Carolina Department of State, Corporation Bureau.
Starting an independent mortgage brokerage business in North Carolina will require that you complete the process of obtaining a NC Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in ND require general licenses for any business operating there. To get a license, register your business with the North Dakota Secretary of State.
Starting an independent mortgage brokerage business in North Dakota will require that you complete the process of obtaining a ND Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in OH require general licenses for any business operating there. To get a license, register your business with the Ohio Department of State, Corporation Bureau.
Starting an independent mortgage brokerage business in Ohio will require that you complete the process of obtaining a OH Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in OK require general licenses for any business operating there. To get a license, register your business with the Oklahoma Secretary of State.
Starting an independent mortgage brokerage business in Oklahoma will require that you complete the process of obtaining an OK Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in OR require general licenses for any business operating there. To get a license, register your business with the Oregon Secretary of State.
Starting an independent mortgage brokerage business in Oregon will require that you complete the process of obtaining a OR Mortgage Lender license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in PA require general licenses for any business operating there. To get a license, register your business with the Pennsylvania Department of State, Corporation Bureau.
Starting an independent mortgage brokerage business in Pennsylvania will require that you complete the process of obtaining a PA Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in RI require general licenses for any business operating there. To get a license, register your business with the Rhode Island Secretary of State.
Starting an independent mortgage brokerage business in Rhode Island will require that you complete the process of obtaining a RI Mortgage Broker license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in SC require general licenses for any business operating there. To get a license, register your business with the South Carolina Secretary of State.
Starting an independent mortgage brokerage business in South Carolina will require that you complete the process of obtaining a SC Mortgage Broker license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in SD require general licenses for any business operating there. To get a license, register your business with the South Dakota Secretary of State.
Starting an independent mortgage brokerage business in South Dakota will require that you complete the process of obtaining a SD Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in TN require general licenses for any business operating there. To get a license, register your business with the Tennessee Secretary of State.
Starting an independent mortgage brokerage business in Tennessee will require that you complete the process of obtaining an TN Mortgage License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in TX require general licenses for any business operating there. To get a license, register your business with the TX Secretary of State and obtain a Certificate of Authority or Good Standing Certificate.
Starting an independent mortgage brokerage business in Texas will require that you complete the process of obtaining a TX Mortgage Company License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in UT require general licenses for any business operating there. To get a license, register your business with the Utah Division of Corporations.
Starting an independent mortgage brokerage business in Utah will require that you complete the process of obtaining a UT Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in VT require general licenses for any business operating there. To get a license, register your business with the Vermont Secretary of State.
Starting an independent mortgage brokerage business in Vermont will require that you complete the process of obtaining a VT Mortgage Broker license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in VA require general licenses for any business operating there. To get a license, register your business with the Clerk of the Virginia State Corporation of Authority or a Certificate of Authority.
Starting an independent mortgage brokerage business in Virginia will require that you complete the process of obtaining a VA Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in DC require general licenses for any business operating there. To get a license, register your business with the Washington DC Department of Consumer and Regulatory Affairs.
Starting an independent mortgage brokerage business in Washington DC will require that you complete the process of obtaining a DC Mortgage Broker license for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Starting an independent mortgage brokerage business in Wisconsin will require that you complete the process of obtaining a WI Mortgage Broker License for your company or yourself as a broker, and a Mortgage Loan Originator License which authorizes you to engage in mortgage loan origination activities.
Some jurisdictions in WY require general licenses for any business operating there. To you will need to contact the Wyoming Secretary of State.
Starting an independent mortgage brokerage business in Wyoming will require that you complete the process of obtaining an WY Mortgage Broker License for your company or yourself as a broker, and a MLO license which authorizes you to engage in mortgage loan origination activities.