- NMLS Cost: $3,100
- Additional Costs: $15 per credit report, $36.25 per criminal background check; $99 per control person NY fingerprinting fee
- Qualifying Individual: must hold NY mortgage loan originator license; must have five (5) years of verifiable mortgage experience
- Surety Bond Requirement: $50,000
- Line of Credit Requirement: $1,000,000 minimum
- Personal Financial Statements: control persons, directors, the three (3) most senior executive officers and the NY Q/I must submit personal financial statements
- NY requirements are among the most extensive in the nation. Please contact us for licensing assistance.
- NMLS Cost: $1,600
- Additional Costs: $15 per credit report, $36.25 per criminal background check; $99 per control person NY fingerprinting fee
- Qualifying Individual: must hold NY mortgage loan originator license; must have two (2) years of verifiable mortgage experience
- Surety Bond Requirement: $10,000
- Personal Financial Statements: control persons, directors, the three (3) most senior executive officers and the NY Q/I must submit personal financial statements
- NY requirements are among the most extensive in the nation. Please contact us for licensing assistance.
- NMLS Cost: $3,100
- Additional Costs: $15 per credit report, $36.25 per criminal background check; $99 per control person NY fingerprinting fee
- Qualifying Individual: must hold NY mortgage loan originator license; must have two (2) years of verifiable mortgage experience
- Surety Bond Requirement: $250,000
- Letter of Assurance Requirement: adjusted net worth of not less than $250,000 plus 1/4 of one percent of outstanding servicing portfolio balance
- E&O Insurance and Fidelity Bond: $300,000 minimum (each)
- Personal Financial Statements: control persons, directors, the three (3) most senior executive officers and the NY Q/I must submit personal financial statements
- NY requirements are among the most extensive in the nation. Please contact us for licensing assistance.
- NMLS Cost: $500
- Branch Manager: must be NY licensed mortgage loan originator
- NMLS Cost: $500
- Branch Manager: must be NY licensed mortgage loan originator
- NMLS Cost: $520
- Additional costs: $15 per credit report
- Branch Manager: must have prior supervisory experience in overseeing mortgage loan servicing
- NMLS Cost: $409
- Additional Costs: $15.00 per credit report, $36.25 per criminal background check; $99 for NY state background check
- Surety bond: an individual surety bond varying from $10,000 to $100,000 will be required unless the company has an Originating Entity Surety Bond (contact us for details)
- Education: NY requires three (3) hours of NY-approved pre-licensure education as part of our national education requirement