Who may need this license

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

Estimated filing costs

Application fee

$350

License fee

$250

NMLS fee

$120

Financial requirements

Financial statement (new application)

Unaudited (not compiled/reviewed)

Annual financial statement

Unaudited (not compiled/reviewed)

Net worth

Not on file

Bonding

Surety bond required

No

Minimum bond amount

$0

Control-person and background requirements

Credit report roles

Direct Owners: Yes; Qualified Individuals: Yes; Indirect Owners: Yes

Criminal background check roles

Direct Owners / Executive Officers: Individual that owns 10% or more of a class of voting security of the applicant or licensee. For a partnership, all individuals that are general partners and those limited and special partners with the right to receive upon dissolution, or have contributed, 10% or more of the partnership’s capital.

Ongoing reporting

MCR — Mortgage Call Report

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

30 days

Main address change notice

30 days