Colorado Mortgage Licensing


Mortgage Banker or Broker

Mortgage Company Registration

Physical In-State Office Required: No
Qualifying Individual: No
Minimum Net Worth: $ None
Surety Bond: $25,000 per LO (see options below)
Comments: You should use the individual option if you will only have a couple CO LOs. If you plan on licensing more than 3 to 4 LOs, then it would start to make sense to get the company bond and E&O.

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$125 – Foreign Entity App
$125 – Registered Agent Fee
$298 – Company License Fee
A loan originator must obtain an individual $25,000 Colorado Surety Bond ($100) and $100,000 Colorado Errors & Omissions Insurance Policy (E&O) ($180)

For the Surety Bond there are 3 options:
$25k – Individuals each hold this.
$100k – Company holds this if company has less than 20 CO LOs
$200k – Company holds this if company has 20 or more CO LOs
Colorado Surety Bond Rule
For E&O there are also 3 options:
Each LO hold this – Coverage is for not less than $100,000.00 for each licensed individual per covered claim, with an annual aggregate limit of not less than $300,000.00 per licensed individual; and Coverage contains a deductible no greater than $1,000.00 or a deductible no greater than $20,000.00 for policies insuring primarily reverse mortgage transactions.
Less than 20 Employees – Coverage is for not less than $1,000,000.00 per covered claim, with an annual aggregate limit of not less than $2,000,000.00 that is exclusive to Colorado consumers; and Coverage contains a deductible no greater than $50,000.00.
20 or more Employees – Coverage is for not less than $1,000,000.00 per covered claim, with an annual aggregate limit of not less than $4,000,000.00 that is exclusive to Colorado consumers; and Coverage contains a deductible no greater than $100,000.00.
CO E&O Rule

Mortgage Banker over 12% APR

Supervised Lender License

Physical In-State Office Required: No
Qualifying Individual: No
Minimum Net Worth: $15,000 to $25,000
Surety Bond: $25,000

Regulated by:

Division of Real Estate

1560 Broadway, Suite 925
Denver, CO 80202
Telephone: 303-894-2166 or 303-894-2185
Fax: 303-894-2683
Gloria Williams | gloria.williams@state.co.us | 303-894-230

Department of Law
Uniform Consumer Credit Code

Unit 1525
Sherman St. 5th Floor
Denver, CO 80203
Telephone: 303-866-4527
Fax: 303-866-5691