An intermediary who brings mortgage borrowers and mortgage lenders together, but does not use its own funds to originate mortgages.

8 04, 2020

NMLS Mortgage Control Person Definition

2020-04-09T17:21:02-07:00April 8th, 2020|Licensing Requirements, Mortgage Broker Licensing, Mortgage Companies, Mortgage Lender Licensing, Mortgage Servicer Licensing, NMLS|

Here is the NMLS Policy on the definition of Control Person. But keep in mind that each state can make their definition broader than this if they desire. Owners of 10% or moreSenior Executive Officers/Directors/LLC Managers On page 37 of the NMLS Policy Handbook, there is a definition of Executive Officers: Corporate Governance – as [...]

11 08, 2008

Mortgage Brokers are Needed More than Ever

2017-01-23T19:53:18-08:00August 11th, 2008|Mortgage Broker Licensing, Mortgage Licensing News|

In today’s market banks and mortgage lenders are being extremely cautious about which loans they approve. Real estate values are dropping and foreclosure rates are rising, and many banks are dropping out of the mortgage business all together. Gone are the days when banks could sell their loans on Wall Street, reload, and do it [...]

24 12, 2007

What Services Does a Mortgage Licensing Company Offer?

2017-01-23T19:53:18-08:00December 24th, 2007|Mortgage Broker Licensing, Mortgage License, Mortgage Licensing News, Mortgage Servicer Licensing|

I have had clients tell me that licensing a mortgage company nationwide was one of the most challenging projects that they have ever taken on. So why is it so challenging, and what can you do to make the process easier? What does a Mortgage Licensing Company do to make this process easier? To explain [...]

18 09, 2007

Massachusetts Adds New Requirements

2017-01-23T19:53:19-08:00September 18th, 2007|Mortgage Broker Licensing, Mortgage Lender Licensing, Mortgage Licensing News|

Massachusetts has now added new surety bond and financial requirements for mortgage broker and lender licensees. NOTICE - MORTGAGE LENDER AND MORTGAGE BROKER APPLICANTS Please note that the recent amendments to 209 CMR 42.00 et seq. have been finalized as of September 7, 2007. All mortgage lender and mortgage broker license applicants filing on or [...]

31 08, 2007

New South Dakota Licensing

2015-05-24T21:18:34-07:00August 31st, 2007|Loan Originator Licensing, Mortgage Broker Licensing, Mortgage Lender Licensing, Mortgage Licensing News, NMLS|

South Dakota has passed SB165, which requires loan officers to be licensed as Mortgage Brokers if brokering and licensed as loan originators if working for a direct lender The bill is effective December 1, 2007. Mortgage Lenders Requires current licensees to have a $25,000 surety bond by August 31, 2007 and for new licensees it [...]

9 08, 2007

Texas Now Requires Company Licensing

2017-01-23T19:53:19-08:00August 9th, 2007|Mortgage Broker Licensing, Mortgage Lender Licensing, Mortgage Licensing News|

Texas legislature has passed House Bill 2783 ammending the Mortgage Broker Licensing Act to require company licensing, to allow for expedited provisional loan officer licensing, to increase the loan officer license fee from $100 to $275, and to clarify the 5 or less exemption for unlicensed companies or individuals. Company licensing will be required by [...]


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