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    Minnesota State Licenses and Regulator Costs

    Need a license?(312) 588-6800 State Mortgage Licensing Experts
      Residential Mortgage Originator License (Company)
    • NMLS Cost: $1,100
    • Additional Costs: $15 per credit report, $36.25 per criminal background check
    • Surety Bond Requirement: varies from $100,000 to $200,000 depending on loan volume (contact us for details)
      Residential Mortgage Servicer License (Company)
    • NMLS Cost: $600
    • Additional Costs: $15 per credit report, $36.25 per criminal background check
    • Requires servicer approval from Fannie Mae or Freddie Mac
    • Surety Bond Requirement: $100,000
    • Letter of Credit Requirement: $100,000
      Branch Registration (Branch)
    • NMLS Cost: $20 (yes, $20)
    • Required for in-state licensed residential mortgage originator and residential mortgage servicer companies
      Mortgage Loan Originator (Individual)
    • NMLS Cost: $120
    • Additional Costs: $15.00 per credit report, $36.25 per criminal background check
    • Surety bond: individual surety bond required if not covered by employer's surety bond (this is rare)