Colorado requires some additional steps that need to be taken on their eLicense website. These steps aren't always apparent, especially during renewal season. Contact us for more info!
- Mortgage Company Registration (Company)
- NMLS Cost: $200
- Surety Bond: $100,000 (<20 CO LOs), $200,000 (>20 CO LOs), or $25,000 surety bond for each individual LO
- E&O Insurance: $100,000 minimum
- No qualifying individual needed
- No branch licenses
- Mortgage Loan Originator License (individual)
- NMLS Cost: $30 (in processing fees)
- Additional Costs: $15.00 per credit report, $36.25 per federal criminal background check; $39.50 for a Colorado State criminal background check (outside of NMLS), $25.00 license fee (outside of NMLS)
- Surety Bond: $25,000 (unless company carries $100,000 CO surety bond)
- Education: 2 hours of CO-specific pre-licensure education is required
- Additional action is required on CO's eLicense website. Contact us for details.