Pennsylvania State Licenses and Regulator Costs

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Mortgage Broker License (Company)

NMLS Cost: $1,100
Additional Costs: $15 per credit report
PA Background Check: $22 per control person for Pennsylvania state background check; manual/mail-in cards for out of state residents
Qualifying Individual: required; must have mortgage loan originator license
Surety Bond Requirement: $100,000 (only if accepting advanced fees) plus between $50,000 and $150,000 depending on volume (contact us for details)

Mortgage Lender License (Company)

NMLS Cost: $1,600
Additional Costs: $15 per credit report
PA Background Check: $22 per control person for Pennsylvania state background check; manual/mail-in cards for out of state residents
Qualifying Individual: required; must have mortgage loan originator license
Minimum Net Worth: $250,000
Fidelity Bond: $300,000 minimum
Surety Bond Requirement: between $100,000 and $500,000 depending on volume (contact us for details)

Mortgage Loan Correspondent License (Company)

NMLS Cost: $1,600
Additional Costs: $15 per credit report
PA Background Check: $22 per control person for Pennsylvania state background check; manual/mail-in cards for out of state residents
Qualifying Individual: required; must have mortgage loan originator license
Minimum Net Worth: $100,000
Surety Bond Requirement: $100,000 (if accepting advanced fees) plus a separate bond between $100,000 and $500,000 depending on volume (contact us for details)

Mortgage Servicer License (Company)

NMLS Cost: $2,500
Additional Costs: $15 per credit report
PA Background Check: $22 per control person for Pennsylvania state background check; manual/mail-in cards for out of state residents
Qualifying Individual: required; must have mortgage loan originator license
Minimum Net Worth: $250,000
Fidelity Bond: required at FNMA or FHLM minimum level
Surety Bond Requirement: $500,000

Mortgage Broker License (Branch)

NMLS Cost: $279
Additional Costs: $15.00 per credit report
PA Background Check: $22 per control person for Pennsylvania state background check; manual/mail-in cards for out of state residents

Mortgage Lender License (Branch)

NMLS Cost: $1,520
Additional Costs: $15.00 per credit report
PA Background Check: $22 per control person for Pennsylvania state background check; manual/mail-in cards for out of state residents

Mortgage Loan Correspondent License (Branch)

NMLS Cost: $1,520
Additional Costs: $15.00 per credit report
PA Background Check: $22 per control person for Pennsylvania state background check; manual/mail-in cards for out of state residents

Mortgage Servicer License (Branch)

NMLS Cost: $1,270
Additional Costs: $15.00 per credit report
PA Background Check: $22 per control person for Pennsylvania state background check; manual/mail-in cards for out of state residents
Branch Manager: must live within 100 miles of branch location

Sole Proprietor Mortgage Originator License (Individual)

NMLS Cost: $30 (Yes, $30)
Additional costs: $15 for a credit report, $36.25 for a background check
State background check: $22 for a PA state background check
Education: Pennsylvania requires three (3) hours of PA-approved pre-licensure education as part of your national education requirement
Note: sole proprietors must also hold a PA mortgage company license

Mortgage Originator License (Individual)

NMLS Cost: $230
Additional costs: $15 for a credit report, $36.25 for a background check
State background check: $22 for a PA state background check
Education: Pennsylvania requires three (3) hours of PA-approved pre-licensure education as part of your national education requirement