Who may need this license

Detailed scope guidance is being verified against the current NMLS checklist.

Estimated filing costs

Application fee

$500

License fee

$125

NMLS fee

$120

Financial requirements

Financial statement (new application)

Unaudited (not compiled/reviewed)

Annual financial statement

Unaudited (not compiled/reviewed)

Net worth

Positive

Source text preserved as written — see statute or checklist for the exact calculation.

Bonding

Surety bond required

No

Minimum bond amount

$0

Control-person and background requirements

Credit report roles

Not on file

Criminal background check roles

Direct Owners / Executive Officers: Direct owners with 20% or more ownership are required to submit a CBC and those under 20% ownership are at the discretion of the Department. Top 3 individuals that are responsible for and provide oversight for the entity’s business activity.; Indirect Owners: Required at the discretion of the Department.; Qualified Individuals: The Qualifying Individuals is required to submit a CBC on a new application or when replacing a previous Qualifying Individual.

Ongoing reporting

MCR — Mortgage Call Report

Not required

A periodic report of loan origination and servicing activity filed through NMLS.

SSSF — State-Specific Supplemental Form

Not required

A state-specific form filed alongside standard NMLS reporting to satisfy that state's additional requirements.

UAAR — UAAR

Not required

A state reporting requirement. The full definition has not yet been verified against NMLS or state-regulator source documentation — treat as provisional pending confirmation. (definition pending verification)

Advance-change notice timing

Legal name change notice

0 days (no advance notice window)

Main address change notice

0 days (no advance notice window)