Vermont State Licenses and Regulator Costs

Lender License (Company)
• NMLS Cost: $2,100 (plus $1,100 per other trade name)
• Additional Costs: $15 per credit report, $36.25 per criminal background check
• Qualifying Individual: required
• Surety Bond Requirement: $50,000 (electronic)

Loan Servicer License (Company)
• NMLS Cost: $2,100
• Additional Costs: $15 per credit report, $36.25 per criminal background check
• Qualifying Individual: required
• Surety Bond Requirement: $100,000 (electronic)

Mortgage Broker Sole Proprietor License (Company)
• NMLS Cost: $600
• Additional Costs: $15 per credit report, $36.25 per criminal background check
• Qualifying Individual: required
• Surety Bond Requirement: $25,000 (electronic)

Mortgage License (Company)
• NMLS Cost: $1,100
• Additional Costs: $15 per credit report, $36.25 per criminal background check
• Qualifying Individual: required
• Surety Bond Requirement: $25,000 (electronic)

Lender License (Branch)
• NMLS Cost: $1,020
• Additional Costs: $15.00 per credit report, $36.25 per criminal background check
• Branch Manager: must live within fifty (50) miles of branch location
• Surety Bond: company must obtain $50,000 bond rider to add branch location

Loan Servicer License (Branch)
• NMLS Cost: $1,020
• Additional Costs: $15.00 per credit report, $36.25 per criminal background check
• Branch Manager: must live within fifty (50) miles of branch location
• Surety Bond: company must obtain $100,000 bond rider to add branch location

Mortgage Broker License (Branch)
• NMLS Cost: $1,020
• Additional Costs: $15.00 per credit report, $36.25 per criminal background check
• Branch Manager: must live within fifty (50) miles of branch location
• Surety Bond: company must obtain $25,000 bond rider to add branch location

Mortgage Loan Originator (Individual)
• NMLS Cost: $130
• Additional Costs: $15.00 per credit report, $36.25 per criminal background check
• Education: Vermont requires two (2) hours of VT-approved pre-licensure education as part of your national education requirement
• Home state license requirement: you must be licensed as a mortgage loan originator in your state of residence