Georgia Mortgage Licensing

Georgia is one of the strictest states for compliance in regards to paying LOs and Processors w-2 pay, and in regards to net branching. Georgia will require you to obtain a physical presence in their state if your home state requires a physical presence to obtain a mortgage license unless you are applying for the lender license. The license application is very long and tedious, and it will take a while for the state to review your mortgage license application, but as long as all of your paperwork is completed correctly, you should have no problem getting approved. Georgia Mortgage Broker Licenses or Mortgage Lender Licenses are worth the wait.


 

Mortgage Banker

Mortgage Lender License/Registration

Physical In-State Office Required: No
Qualifying Individual: Yes
Minimum Net Worth: None
Surety Bond: $150,000
Comments: Georgia was allowing a reduced surety bond for lenders with a HUD approval, but as of July 1st, 2007 this is now being eliminated.

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$225 – Foreign Entity App
$125 – Registered Agent Fee
$1,250 – Company License Fee
$1,500 – GA $150k Surety Bond


 

Mortgage Broker

Mortgage Broker/Processor License

Physical In-State Office Required: Yes, if your home state requires a physical office
Qualifying Individual: Yes, 2 years full-time experience within the last 3 years (verified by w-2s) or a 40 hour education course (20 of the hours can be the SAFE Pre-License Education required for LO Licensing). New Application Checklist
Minimum Net Worth: $ None
Surety Bond: $50,000
Comments: Requires company and owner tax returns, company financials, and fingerprint cards for owners/officers/branch managers. Time frame for approval is about 2 months.

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$225 – Foreign Entity App
$125 – Registered Agent Fee
$750 – Company License Fee
$350 – Branch License Fee (if physical office required)
$500 – GA $50k Surety Bond


 

Regulated by:

Department of Banking and Finance

2990 Brandywine Road, Suite 200
Atlanta, GA 30341-5565
Telephone: 770-986-1633
Fax: 770-986-1654
Email: dbfmort@dbf.state.ga.us
Branch Applications | Brenda Harrold | 770-986-5035
Latosha Rose | LRose@dbf.state.ga.us