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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.
Pennsylvania Mortgage Licensing
Pennsylvania has multiple different mortgage license types listed below.Mortgage Banker Licensing
Mortgage Lender License
Physical Office Required: Eliminated 8/1/09
In-State Officer/ Key Person: Eliminated 8/1/09
Minimum Net Worth: $500,000 to $1,000,000
Surety Bond: $100,000 to $500,000 (additional $100,000 if receiving trust funds)
Fidelity Bond: $300,000
Line of Credit $1,000,000
State Initial Fee: $1,600
State Renewal Fee: $350
Branch Licensing: Yes
Loan Originator Licensing: Yes
Experience/Education: One owner of 25% or more must complete Education and Test and hold or apply for a PA LO License. 8 hours of continuing education annually
Partial Mortgage Banker Licensing
Mortgage Loan Correspondent License
Physical Office Required: Eliminated 8/1/09
In-State Officer/ Key Person: Eliminated 8/1/09
Minimum Net Worth: $100,000
Surety Bond: $100,000 to $500,000 (additional $100,000 if receiving trust funds)
State Initial Fee: $1,600
State Renewal Fee: $350
Branch Licensing: Yes
Loan Originator Licensing: Yes
Experience/Education: One owner of 25% or more must complete Education and Test and hold or apply for a PA LO License. 8 hours of continuing education annually
Mortgage Broker Licensing
Mortgage Broker License
Physical Office Required: Eliminated 8/1/09
In-State Officer/ Key Person: Eliminated 8/1/09
Minimum Net Worth: $ None
Surety Bond: $50,000 to $150,000 ($100,000 if receiving trust funds)
State Initial Fee: $500
State Renewal Fee: $200
Branch Licensing: Yes
Loan Originator Licensing: Yes
Experience/Education: One owner of 25% or more must complete Education and Test and hold or apply for a PA LO License. 8 hours of continuing education annually
Regulated by:
Department of Banking
17 N Second Street, Suite 1300
Harrisburg, PA 17101-2290
Telephone: (717) 787-2665
Fax: (717) 787-8773
Linda Joslin - Final Review - 717-783-2250, fx 717-787-8773
Lou Fabian - Initial Review - Phone: 717.783.2493 | Fax: 717.787.8773 - lfabian@state.pa.us
Rita Myers - Initial Review - rmyers@state.pa.us
Jacqueline Johnson - LO Apps - Phone: 717.425.5467 | Fax: 717.787.8773 - jacqujohns@state.pa.us
Norma Cole - LO Apps - nocole@state.pa.us - Fax: 717-787-8773
Debra Hartley - Phone: 717.425.5464 | Fax: 717.787.8773 - dhartley@state.pa.us
Laura Hill - 843.683.6992 cfolks@state.pa.us
http://banking.state.pa.us/