Louisiana Mortgage Licensing

Louisiana has one license which is their broker/lender/servicer license. There are different requirements if you’re going to be a broker, lender, or servicer. Brokers must complete a form that includes listing the cost of services, a place for the originator and borrower to sign and space for the borrower’s address. If you’re a wholesale lender and don’t engage in retail lending, you must submit a completed wholesale lender statement. You will also have to demonstrate financial responsibility by providing authorization to the NMLS and commissioner to obtain an independent credit report from a consumer reporting agency. Louisiana does require a bond in the amount of $25,000 and will be required to be increased to $50,000 if total loan volume exceeds $100 Million in your previous calendar year.