New Jersey
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 | $1,320 | $1,125 | $286 | Call for More Information | $2,731 |
| New Jersey | Residential Mortgage Lender License | $1,320 | $1,125 | $286 | Call for More Information | $2,731 |
| New Jersey | Mortgage Servicer License | $1,120 | $750 | $286 | Call for More Information | $2,156 |
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 760-295-4040
**Fees & terms are subject to change without notice.**
To obtain a mortgage broker license in New Jersey, applicants must apply through the Nationwide Multistate Licensing System (NMLS) and comply with the requirements established by the state Department of Banking and Insurance. New Jersey is known for its highly structured licensing framework, which places significant emphasis on supervisory oversight, background investigations, and regulatory compliance.
A defining feature of the New Jersey mortgage licensing process is the requirement for a Qualified Individual (QI) license. Every mortgage broker company must designate an officer, director, owner, partner, or principal who holds a state QI license of the same type as the company license being sought. The QI must meet all mortgage loan originator licensing standards, including education, testing, fingerprinting, and background check requirements.
This state also requires extensive background screening for control persons and Qualified Individuals, including both FBI and State Police fingerprinting. Applicants must submit audited financial statements, organizational documents, disclosure explanations, and other compliance materials through NMLS. The state’s review process is detail-oriented, and incomplete filings can significantly delay approval.
Unlike some states with more flexible licensing structures, New Jersey maintains strict operational and supervisory standards for mortgage brokers and lenders. Businesses seeking licensure should carefully prepare all documentation, ensure the proper designation of their Qualified Individual, and maintain strong compliance controls throughout the application process.