New Jersey Mortgage Licensing
New Jersey offers a Lender license and a Broker license. New Jersey has Qualified Individual requirements, including the fact that one of the individuals that serves as owner, officer, or principal must have a NJ Qualified Individual MLO License. Audited financial statement is required for both applications demonstrating your net worth meets the state’s requirements, $50,000 for the Broker and $250,000 for the Lender. Both licenses require each officer to complete a federal and a NJ state specific background check.
| State | License Name | State Fee | Bond Premium Est. | SOS Fee | MLG Processing Fee | Total |
| New Jersey | Residential Mortgage Broker License | $1,300 | $1,125.00 | $125 | Call for More Information | $2,550 |
| New Jersey | Residential Mortgage Lender License | $1,300 | $1,125.00 | $125 | Call for More Information | $2,550 |
| New Jersey | Mortgage Servicer License | $1,100 | $750 | $125 | Call for More Information | $1,975 |
License: Residential Mortgage Broker License
- Operating Status: Broker
- Bond Amount: $150,000
- Net Worth: $50,000
- Brick & Mortar: No
- Financial Type: Audited
License: Residential Mortgage Lender License
- Operating Status: Lender/Broker
- Bond Amount: $150,000
- Net Worth: $250,000
- Brick & Mortar: No
- Financial Type: Audited
License: Mortgage Servicer License
- Operating Status: Servicer
- Bond Amount: $100,000
- Net Worth: $250,000
- Brick & Mortar: No
- Financial Type: Audited
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Residential Mortgage Broker License
NJ Qualified Individual requirements: At least one individual who is an officer, director, partner, member, owner or principal must obtain a NJ Qualified Individual MLO license. Company must have an Audited financial statement showing that the company meets the minimum tangible net worth requirement of $50,000. This application requires a high surety bond amount of $150,000. Each officer will need to complete a federal and a NJ state specific background check.
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Residential Mortgage Lender License
NJ Qualified Individual requirements: At least one individual who is an officer, director, partner, member, owner or principal must obtain a NJ Qualified Individual MLO license. Company must have an Audited financial statement showing that the company meets the minimum tangible net worth of $250,000. This application requires a high surety bond amount of $150,000. Each officer will need to complete a federal and a NJ state specific background check.
For more information or to speak to a representative for your state
call us today at 866-576-7726
**Fees & terms are subject to change without notice.**