Alabama Mortgage Licensing

StateLicense NameState FeeBond Premium Est.
SoS FeeMLG ProcessingTotal
AlabamaMortgage Broker License$700.00$188.00$225.50Call for More Information$1113.00
AlabamaConsumer Credit License$700.00$188.00$225.50Call for More Information$1113.00

License: Consumer Credit License

  • Operating Status: Lender/Broker
  • Bond Amount: $25,000
  • Net Worth: $25,000
  • Brick & Mortar: No
  • Financial type: Compiled

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Consumer Credit License (Lender)

The required Surety Bond amount is based off of loan volume in AL loans closed in the previous calendar year. Resume of all owners, principals, and executive officers are required by the application for the past 5 years. The requested licensed location must not be a residence or zoned residential.  QI is not required for this license.

Things to Note: Each branch location, wherever located, desired to conduct business under this license will require a branch license. (Branch app is almost same price as company app.)

License: Mortgage Broker License

  • Operating Status: Broker
  • Bond Amount: $25,000
  • Net Worth: $25,000
  • Brick & Mortar: No
  • Financial type: None

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Mortgage Brokers License

The required Surety Bond amount is based off of loan volume in AL loans closed in the previous calendar year. One item needed for this application: Resume of all owners, principals, and executive officers are required by the application for the past 5 years.

Things to note: Each branch location, wherever located, desired to conduct business under this license will require a branch license. (Branch app is almost same price as company app.) QI is required to have 2 of the last 4 years experience.

For more information or to speak to a representative for your state call us today at 866-576-7726