Vermont Mortgage Licensing

Vermont separates is licenses by business activity and will require you to obtain sperate licenses for each. Audited Financial statements dated within 90 days of your fiscal year end are required along with audited financial statements from the prior two fiscal years, as well as parent company financial statements if applicable. The Broker and Servicer license do not have a financial requirement but for the Lender license you must have $25K liquid assets at all times, this is increased to $50K liquid assets for commercial lending activities. Vermont will not license a company if any officer, director, or control person of the applicant has had a license revoked before or has a felony on record. Named QI must be designated and located at the cooperate office. Vermont only permits the use of one additional trade name for each license obtained. Any additional trade names you wish to use will require a separate Other Trade Name (OTN) license up to 6 total being allowed.