New Jersey Mortgage Licensing
Mortgage Servicer, Banker and Broker
Mortgage Banker License
Physical In-State Office Required: No (Eliminated 1/4/2010)
Qualifying Individual: Yes, one officer must complete requirements to obtain a NJ LO License.
Minimum Net Worth: $250,000 Audited
Surety Bond: $150,000
Comments: Office Suitability (1) an office to be located within the State of New Jersey OR (2) an office to be located outside of New Jersey.
License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$125 – Foreign Entity Fee
$125 – Registered Agent Fee
$1,500 – Surety Bond Fee
$1,300 – Company License Fee
$50 – NJ Fingerprinting per Owner/Officer
$530 – Qualified Individual License Fee
$79 – 4 hour State-Specific Education Course for Qualified Individual
Mortgage Banker and Broker
Correspondent Mortgage Banker License
Physical In-State Office Required: No (Eliminated 1/4/2010)
Qualifying Individual: Yes, one officer must complete requirements to obtain a NJ LO License.
Minimum Net Worth: $150,000 Audited
Surety Bond: $150,000
Experience/Education: Officer of company to complete LO Licensing Requirements
Comments: Office Suitability (1) an office to be located within the State of New Jersey OR (2) an office to be located outside of New Jersey.
License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$125 – Foreign Entity Fee
$125 – Registered Agent Fee
$1,500 – Surety Bond Fee
$1,300 – Company License Fee
$50 – NJ Fingerprinting per Owner/Officer
$530 – Qualified Individual License Fee
$79 – 4 hour State-Specific Education Course for Qualified Individual
Mortgage Broker
Mortgage Broker License
Physical In-State Office Required: No (Eliminated 1/4/2010)
Qualifying Individual: Yes, one officer must complete requirements to obtain a NJ LO License.
Minimum Net Worth: $50,000 Audited
Surety Bond: $150,000
Comments: Office Suitability (1) an office to be located within the State of New Jersey OR (2) an office to be located outside of New Jersey.
License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$125 – Foreign CorpEntity Fee
$125 – Registered Agent Fee
$1,500 – Surety Bond Fee
$1,300 – Company License Fee
$50 – NJ Fingerprinting per Owner/Officer
$530 – Qualified Individual License Fee
$79 – 4 hour State-Specific Education Course for Qualified Individual
Regulated by:
Division of Banking
Licensing Services
20 W. State St., 8th Fl
P.O. Box 473
Trenton, NJ 08625
Telephone: 609-292-7272
Fax: 609-777-0107