Categories:
- Home
- Mortgage Licensing Prices
- FHA Licensing
- Requirements by State
- Requirements by Type
- Definitions
- Mortgage Branch Employer
- Latest Licensing News
- Licensing Resources
- Licensing Services
- About Us
- Contact Us
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.
Minnesota Mortgage Licensing
Mortgage Banker or Broker
Mortgage Originator License
Physical Office Required: No
In-State Officer/ Key Person : No
Minimum Net Worth: $0 to $250,000
Surety Bond: $0 to $50,000
State Initial Fee: $2,125
State Renewal Fee: $1,125
Branch Licensing: No
Loan Officer Licensing: No
Education/Experience: 15 hours of continuing education
Exemptions: HUD or FNMA Approval in lieu of Net Worth and/or Surety Bond
Comments: You must have one of the following: (1) approval as a mortgagee by either HUD or FNMA; (2) tangible net worth of $250,000; or (3) a $50,000 surety bond or letter of credit
Regulated by:
Department of Commerce
85 7th Place East, Suite 500
St. Paul, MN 55101
Phone: 651-296-2135
Robin Brown - (651) 282-9855
http://www.state.mn.us/portal/mn/jsp/home.do?agency=Commerce