New York Mortgage Licensing
New York’s banker license requires a minimum net worth of $250k. There is no net worth requirement for the broker license. New York has high investigation fees for both licenses; $1,600 for the broker and $3,100 for the banker. New York requires their QI be a licensed MLO as well as either an owner, partner, trustee or officer of the applicant. Personal financial statements and personal questionnaires are required by the control persons, including directors and three most senior executive officers. The three most senior executive officers will also have to submit a resume. Fingerprint cards will need to be completed, preferably within the most recent 12 months.
| State | License Name | State Fee | Bond Premium Est. | SOS Fee | MLG Processing Fee | Total |
| New York | Mortgage Broker Registration | $1,600 | $75 | $250 | Call for More Information | $1,925 |
| New York | Mortgage Banker License | $3,100 | $375 | $250 | Call for More Information | $3,725 |
License: Mortgage Broker Registration
- Operating Status: Broker
- Bond Amount: $10,000
- Net Worth: N/A
- Brick & Mortar: No
- Financial Type: N/A
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License: Mortgage Banker License
- Operating Status: Lender/Broker
- Bond Amount: $50,000
- Net Worth: $250,000
- Brick & Mortar: No
- Financial Type: Audited (past 2 years)
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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.**