Alabama

StateLicense NameState FeeBond Premium Est.
SoS FeeMLG ProcessingTotal
AlabamaMortgage Broker License$700.00$188.00$412.00Call for More Information$1300.00
AlabamaConsumer Credit License$700.00$188.00$412.00Call for More Information$1300.00
AlabamaNo License/No COA$0.00$0.00$0.00Call for More Information$0.00

License: Consumer Credit License

  • Operating Status: Lender/Broker
  • Bond Amount: $25,000
  • Net Worth: $25,000
  • Brick & Mortar: No
  • Audited Financials: No

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Consumer Credit License (Lender)

This state application is relatively simple and does not require a QI or licensed AL LO. 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
  • Audited Financials: No

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Mortgage Brokers License

This state application is relatively simple and does not require a QI or licensed AL LO. 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 not required for this license.

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