New Jersey Mortgage Licensing | New Jersey Division of Banking
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Mortgage Servicer, Banker and Broker | Mortgage Banker License
License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee: $125 – Foreign Entity Fee $125 – Registered Agent Fee $1,500 – Surety Bond Fee $1,300 – Company License Fee $50 – NJ Fingerprinting per Owner/Officer $530 – Qualified Individual License Fee $79 – 4 hour State-Specific Education Course for Qualified Individual $69 – State NMLS Test for Qualified Individual |
Mortgage Banker and Broker | Correspondent Mortgage Banker License
License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$125 – Foreign Entity Fee
$125 – Registered Agent Fee
$1,500 – Surety Bond Fee
$1,300 – Company License Fee
$50 – NJ Fingerprinting per Owner/Officer
$530 – Qualified Individual License Fee
$79 – 4 hour State-Specific Education Course for Qualified Individual
$69 – State NMLS Test for Qualified Individual
- Physical In-State Office Required: No (Eliminated 1/4/2010)
- Qualifying Individual: Yes, one officer must complete requirements to obtain a NJ LO License.*
- Minimum Net Worth: $150,000 Audited
- Surety Bond: $150,000
- Branch Licensing: Yes
- Loan Originator Licensing: Yes
- Experience/Education: Officer of company to complete LO Licensing Requirements
- Comments: Office Suitability (1) an office to be located within the State of New Jersey OR (2) an office to be located outside of New Jersey.
License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$125 – Foreign Entity Fee
$125 – Registered Agent Fee
$1,500 – Surety Bond Fee
$1,300 – Company License Fee
$50 – NJ Fingerprinting per Owner/Officer
$530 – Qualified Individual License Fee
$79 – 4 hour State-Specific Education Course for Qualified Individual
$69 – State NMLS Test for Qualified Individual
Mortgage Broker | Mortgage Broker License
License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$125 – Foreign Entity Fee
$125 – Registered Agent Fee
$1,500 – Surety Bond Fee
$1,300 – Company License Fee
$50 – NJ Fingerprinting per Owner/Officer
$530 – Qualified Individual License Fee
$79 – 4 hour State-Specific Education Course for Qualified Individual
$69 – State NMLS Test for Qualified Individual
- Physical In-State Office Required: No (Eliminated 1/4/2010)
- Qualifying Individual: Yes, one officer must complete requirements to obtain a NJ LO License.*
- Minimum Net Worth: $50,000 Audited
- Surety Bond: $150,000
- Branch Licensing: Yes
- Loan Originator Licensing: Yes
- Comments: Office Suitability (1) an office to be located within the State of New Jersey OR (2) an office to be located outside of New Jersey.
License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$125 – Foreign Entity Fee
$125 – Registered Agent Fee
$1,500 – Surety Bond Fee
$1,300 – Company License Fee
$50 – NJ Fingerprinting per Owner/Officer
$530 – Qualified Individual License Fee
$79 – 4 hour State-Specific Education Course for Qualified Individual
$69 – State NMLS Test for Qualified Individual
Regulated by:
New Jersey Division of Banking
Licensing Services
20 W. State St., 8th Fl
P.O. Box 473
Trenton, NJ 08625
Telephone: 609-292-7272
Fax: (609) 777-0107
http://www.state.nj.us/dobi/index.shtml
Rules and Regulations for Licensed Lender Exam
New Jersey Division of Banking
Licensing Services
20 W. State St., 8th Fl
P.O. Box 473
Trenton, NJ 08625
Telephone: 609-292-7272
Fax: (609) 777-0107
http://www.state.nj.us/dobi/index.shtml
Rules and Regulations for Licensed Lender Exam
