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New Articles:
- Pennsylvania Surety Bond Mortgage Licensing Requirements
- Rhode Island Mortgage Loan Originator Professional Requirements under SAFE
- Illinois Requires Licensing of Mortgage Loan Originators
- Kansas Mortgage Broker Licensing becomes part of NMLS
- Maryland NMLS-Approved SAFE Mortgage Loan Originator Test Available
Contact Us
For assistance with mortgage licensing, contact us at:Direct Phone: (714) 656-3960
Fax: (714) 829-1444
steven@imlicensing.com
Information herein is for educational purpose only and is not meant to be a complete statement of all state mortgage licensing requirements. Additional State and FHA mortgage licensing requirements may be required. If you need further information, we would encourage you to contact us directly.
Georgia Mortgage Licensing
Georgia is one of the strictest states for compliance in regards to paying LOs and Processors w-2 pay, and in regards to net branching. Georgia will require you to obtain a physical presence in their state if your home state requires a physical presence to obtain a mortgage license. The license application is very long and tedious, and it will take a while for the state to review your mortgage license application, but as long as all of your paperwork is completed correctly, you should have no problem getting approved. Georgia Mortgage Broker Licenses or Mortgage Lender Licenses are worth the wait.Mortgage Banker
Mortgage Lender License/Registration
Physical Office Required: Yes, if your home state requires a physical office
In-State Officer/ Key Person: No
Minimum Net Worth: $100,000 to $250,000
Surety Bond: $150,000
State Initial Fee: $1,250
Loan Officer Licensing: No
Branch Licensing: Yes, if branch located in Georgia.
Comments: Georgia was allowing a reduced surety bond for lenders with a HUD approval, but as of July 1st, 2007 this is now being eliminated.
Mortgage Broker
Mortgage Broker License/Registration
Physical Office Required: Yes, if your home state requires a physical office
In-State Officer/ Key Person: Yes
Minimum Net Worth: $ None
Surety Bond: $50,000
State Initial Fee: $750
Loan Officer Licensing: No
Branch Licensing: Yes, if branch located in Georgia.
Comments: For the mortgage broker license, you will need to verify two years of experience in mortgage brokering and you will need to complete a 4-hour course if located outside of Georgia. If you can’t prove this with a w-2 you may be required to complete 40 hours of education.
Mortgage Processor
Mortgage Processor License
Physical Office Required: Yes, if your home state requires a physical office
In-State Officer/ Key Person: Yes
Minimum Net Worth: $ None
Surety Bond: $50,000
State Initial Fee: $750
Loan Officer Licensing: No
Branch Licensing: Yes, if branch located in Georgia.
Regulated by:
Department of Banking and Finance
2990 Brandywine Road, Suite 200
Atlanta, GA 30341-5565
Telephone: (770) 986-1633
Fax: (770) 986-1654
Branch Applications - Brenda Harrold - (770) 986-5035
http://dbf.georgia.gov