Virginia Mortgage Licensing


 

Mortgage Banker

Mortgage Lender License

Physical In-State Office Required: No
Qualifying Individual: No
Minimum Net Worth: $ None
Surety Bond: $50,000
Comments: Certification from a depository institution that the company has at least $200,000 cash on deposit or an established line of credit of at least $200,000 for operation of the business, or some combination of both. Neither letters of credit nor lines of credit from sources other than a bank or other depository institution will satisfy this requirement.

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$300 – Foreign Entity Fee
$125 – Registered Agent Fee
$500 – Surety Bond Fee
$600 – Company License Fee
$37 – Criminal History Check per Owner/Officer


 

Mortgage Broker

Mortgage Broker License

Physical In-State Office Required: No
Qualifying Individual: No
Minimum Net Worth: $ None
Loan Originator Licensing: Yes

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$300 – Foreign Entity Fee
$125 – Registered Agent Fee
$250 – Surety Bond Fee
$600 – Company License Fee
$37 – Criminal History Check per Owner/Officer


 

Regulated by:

Bureau of Financial Institutions

1300 E. Main Street, Suite 800
P.O. Box 640
Richmond, Virginia 23218-0640
Telephone: 804-371-9657
Fax: 804-371-9416
Deputy Commissioner | Nicholas C. Kyrus |  Nick.Kyrus@scc.virginia.gov | 804-371-9690
Fingerprint Card Requests | corporatestructure@scc.virginia.gov
Joyce Tinsley | joyce.tinsley@scc.virginia.gov | 804-371-9377
Dustin Physioc | Dustin.Physioc@scc.virginia.gov