Alabama Mortgage Licensing | Alabama State Banking Department 

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Mortgage Banker | Consumer Credit License (Mini-Code)

• Physical In-State Office Required: No
  
• Minimum Net Worth: None, CPA Compiled
  
• Surety Bond: $25,000 to $75,000
  
• Qualifying Individual: No
  
• Loan Originator License:  Yes
  
• Branch License:  Yes
  
• Comments: Evidence of Warehouse Line is required to verify lender status. Office location cannot be zoned residential.
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$150 – Foreign Entity App
$125 – Registered Agent Fee
$700 – Company License Fee
$250 – AL $25k Surety Bond

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Mortgage Broker | Mortgage Broker License

• Physical In-State Office Required: No as of 8/21/09
  
• Minimum Net Worth: None, CPA Compiled
  
• Surety Bond: $25,000 to $75,000
  
• Qualifying Individual: No
  
• Loan Originator License:  Yes
  
• Branch License:  Yes
  
• Comments: Office location cannot be zoned residential.
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$150 – Foreign Entity App
$125 – Registered Agent Fee
$700 – Company License Fee
$250 – AL $25k Surety Bond

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Regulated by:
Alabama State Banking Department 
P.O. Box 4600
Montgomery, Alabama 36103-4600
Telephone:(334) 242-3452
Jeremy Windham, Mortgage Licensing Coordinator, [email protected], 334-242-3452
Hillary Farthing, Company Licensing, [email protected], 334-242-3452
Diana Anderson, Individual Licensing, [email protected], 334-242-3452
Main Fax:(334) 242-3500
http://www.banking.alabama.gov