The District of Columbia offers a dual authority license for companies that want to lend and broker. We recommend this license type for lenders if there is even a slight possibility that you will broker in the future.
- Mortgage Broker License (Company)
- NMLS Cost: $1,200
- Additional Costs: $$15 per credit report, $36.25 per criminal background check;
- Surety Bond Requirement: ranges from $12,500 to $50,000 depending on volume (contact us for details); if you file four (4) or more applications (ex: branch applications) at the same time, you can obtain a blanket $200,000 surety bond to cover all offices
- Mortgage Dual Authority License (Company)
- For companies that lend and broker
- NMLS Cost: $1,400
- Additional Costs: $$15 per credit report, $36.25 per criminal background check;
- Surety Bond Requirement: ranges from $12,500 to $50,000 depending on volume (contact us for details); if you file four (4) or more applications (ex: branch applications) at the same time, you can obtain a blanket $200,000 surety bond to cover all offices
- Mortgage Lender License (Company)
- NMLS Cost: $1,300
- Additional Costs: $$15 per credit report, $36.25 per criminal background check;
- Surety Bond Requirement: ranges from $12,500 to $50,000 depending on volume (contact us for details); if you file four (4) or more applications (ex: branch applications) at the same time, you can obtain a blanket $200,000 surety bond to cover all offices
- Mortgage Broker Branch License (Branch)
- NMLS Cost: $1,120
- Surety Bond: you must obtain a surety bond rider on your company bond to include the branch address
- Mortgage Dual Authority Branch License (Branch)
- NMLS Cost: $1,120
- Surety Bond: you must obtain a surety bond rider on your company bond to include the branch address
- Mortgage Lender Branch License (Branch)
- NMLS Cost: $1,120
- Surety Bond: you must obtain a surety bond rider on your company bond to include the branch address
- Mortgage Loan Originator License (individual)
- NMLS Cost: $330
- Additional Costs: $15.00 per credit report, $36.25 per criminal background check
- Education: DC requires 3 hours of DC specific pre-licensure education in addition to to the national requirements