Delaware Mortgage Licensing

Delaware may take a few months to obtain a mortgage license, since they do in depth verifications and reviews of the application documentation, but the requirements are not very strict. One of the major hold ups for most companies is that Delaware requires 3 letters of reference to be sent directly to the State of Delaware Licensing Department by the person giving the reference. I’ve seen applications held up for months due to this not being sent correctly. However, everything else is just paperwork, so if you submit the paperwork correctly in this state, you can greatly increase your chances of getting a Delaware Mortgage License much quicker.

 

Mortgage Banker

Licensed Lender

Physical In-State Office Required: No
Qualifying Individual: No
Minimum Net Worth: $ None
Surety Bond: $50,000 to $200,000

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$245 – Foreign Entity App
$125 – Registered Agent Fee
$250 – Company Application Fee
$250 – Company License Fee
$500 – DE $50k Surety Bond
Annual Supervisory Assessment Fee of $1,000 in addition to renewal fee in the NMLS.

 

Mortgage Broker

Mortgage Loan Broker License

Physical In-State Office Required: No
Qualifying Individual: No
Minimum Net Worth: $ None
Surety Bond: $25,000

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$245 – Foreign Entity App
$125 – Registered Agent Fee
$250 – Company Application Fee
$500 – Company License Fee
$250 – DE $25k Surety Bond
Annual Renewal Supervisory Assessment Fee of $1,000 in addition to renewal fee in the NMLS.

 

Regulated by:

Office of the State Bank Commissioner

555 E. Loockerman St., Suite 210
Dover, DE 19901
Telephone: 302-739-4235
Fax: 302-739-3609