Minnesota State Licenses and Regulator Costs

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)

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Lynx Licensing charges a flat rate of $625 per state license, $120 per branch license, and $85 per individual license.

Located in Raleigh, North Carolina

ryan at lynxlicensing dot com

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