Pennsylvania

Pennsylvania has net worth requirements for both the mortgage lender and mortgage loan correspondent. The mortgage lender license requires a net worth of 250k and the mortgage loan correspondent requires a 100k net worth. While Pennsylvania doesn’t require audited financials, they are required if they are available. Pennsylvania requires their QI to be a licensed MLO and have their address match the main address on the company form. Additionally, for each branched location, Pennsylvania requires a licensed LO.

StateLicense NameState FeeBond Premium Est.
SoS FeeMLG ProcessingTotal
PennsylvaniaMortgage Broker$1100.00$375.00$603.00Call for More Information$2078.00
PennsylvaniaMortgage Lender$1600.00$750.00$603.00Call for More Information$2953.00
PennsylvaniaNo License/No COA$0.00$0.00$0.00Call for More Information$0.00

License: Mortgage Lender License

  • Operating Status: Lender/Broker
  • Bond Amount: $100,000
  • Net Worth: $250,000
  • Brick & Mortar: No
  • Audited Financials: No

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License: Loan Correspondent License

  • Operating Status: Lender
  • Bond Amount: $100,000
  • Net Worth: $100,000
  • Brick & Mortar: No
  • Audited Financials: No

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