South Dakota State Licenses and Regulator Costs

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Mortgage Brokerage License (Company)

NMLS Cost: $600
Additional Costs: $15 per credit report, $36.25 per criminal background check
Fingerprinting: SD requires state fingerprinting; cards are mailed after application
Surety Bond Requirement: varies from $25,000 to $50,000 depending on volume (contact us for details)

Mortgage Lender License (Company)

NMLS Cost: $1450
Additional Costs: $15 per credit report, $36.25 per criminal background check
Fingerprinting: SD requires state fingerprinting; cards are mailed after application
Surety Bond Requirement: varies from $25,000 to $50,000 depending on volume (contact us for details)

Mortgage Lender Branch License (Branch)

NMLS Cost: $1,000
Additional Costs: $15.00 per credit report, $36.25 per criminal background check
Surety Bond Requirement: $10,000 for first branch license $2,500 for each additional branch license

Mortgage Loan Originator (Individual)

NMLS Cost: $180
Additional Costs: $15.00 per credit report, $36.25 per criminal background check