Pennsylvania Mortgage Licensing | Pennsylvania Department of Banking

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Mortgage Banker Licensing | Mortgage Lender License

• Physical In-State Office Required: No, Eliminated 8/1/09
  
• Qualifying Individual: Yes, must be executive officer and obtain a PA LO License.
  
• Minimum Net Worth:  $250,000
  
• Surety Bond: $100,000 to $500,000 (additional $100,000 if receiving trust funds) 
  
• Branch Licensing: Yes
  
• Loan Originator Licensing: Yes
  
• Comments: Must obtain Fidelity Bond of $300,000 or more and warehouse line of credit of $1,000,000 or more.

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$250 – Foreign Entity Fee
$125 – Registered Agent Fee
$ 1,000 – $100k Surety Bond Fee
$1,600 – Company License Fee
$40 – PA Fingerprinting per Officer/Owner 

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Partial Mortgage Banker Licensing | Mortgage Loan Correspondent License

• Physical In-State Office Required: No, Eliminated 8/1/09
  
• Qualifying Individual: Yes, must be executive officer and obtain a PA LO License.
  
• Minimum Net Worth:  $100,000
  
• Surety Bond: $100,000 to $500,000 (additional $100,000 if receiving trust funds) 
  
• Branch Licensing: Yes
  
• Loan Originator Licensing: Yes
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$250 – Foreign Entity Fee
$125 – Registered Agent Fee
$1,000 – Surety Bond Fee
$1,600 – Company License Fee
$40 – PA Fingerprinting per Officer/Owner 

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Mortgage Broker Licensing | Mortgage Broker License

• Physical In-State Office Required: No, Eliminated 8/1/09
  
• Qualifying Individual: Yes, must be executive officer and obtain a PA LO License.
  
• Minimum Net Worth: $ None
  
• Surety Bond: $50,000 to $150,000 ($100,000 if receiving trust funds)
  
• Branch Licensing: Yes
  
• Loan Originator Licensing: Yes
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$250 – Foreign Entity Fee
$125 – Registered Agent Fee
$500 – Surety Bond Fee
$1,100 – Company License Fee
$40 – PA Fingerprinting per Officer/Owner 

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Regulated by:
Pennsylvania Department of Banking
17 N Second Street, Suite 1300 
Harrisburg, PA 17101-2290 
Telephone: (717) 787-2665 
Fax: (717) 787-8773
John Stossel - Supervisor - 717-346-9352
Linda Joslin - Final Review - 717-783-2250, fx 717-787-8773
Sherry Reeder - Initial Review - [email protected] - 717-772-2276
Lou Fabian - Initial Review - Phone: 717.783.2493 | Fax: 717.787.8773 - [email protected]
Rita Myers - Initial Review - [email protected]
Jacqueline Johnson - LO Apps - Phone: 717.425.5467 | Fax: 717.787.8773 - [email protected]
Norma Cole - LO Apps - [email protected] - Fax: 717-787-8773
Debra Hartley - Phone: 717.425.5464 | Fax: 717.787.8773 - [email protected]
Laura Hill - 843.683.6992 [email protected]
http://www.dobs.state.pa.us/portal/server.pt/community/dobs_home/14319