New Jersey State Licenses and Regulator Costs

Correspondent Residential Mortgage Lender License (Company)

  • NMLS Cost: $1,300

  • For lenders that sell their loans on the secondary market within ninety (90) days

  • Additional Costs: $15 per credit report, $36.25 per criminal background check

  • Minimum Net Worth: $150,000

  • Surety Bond Requirement: $150,000

Residential Mortgage Broker License (Company)

  • NMLS Cost: $1,300

  • Additional Costs: $15 per credit report, $36.25 per criminal background check

  • Qualifying Individual: must obtain Q/I license of same type as company license

  • Minimum Net Worth: $50,000

  • Surety Bond Requirement: $150,000

Residential Mortgage Lender License (Company)

  • NMLS Cost: $1,300

  • Additional Costs: $15 per credit report, $36.25 per criminal background check

  • Qualifying Individual: must obtain Q/I license of same type as company license

  • Minimum Net Worth: $250,000

  • Surety Bond Requirement: $150,000

Correspondent Residential Mortgage Lender Branch License (Branch)

  • NMLS Cost: $1,020

  • Additional Costs: $15.00 per credit report, $36.25 per criminal background check

  • Branch Manager: must work on-site; must have New Jersey mortgage loan originator license

Residential Mortgage Broker Branch License (Branch)

  • NMLS Cost: $1,020

  • Additional Costs: $15.00 per credit report, $36.25 per criminal background check

  • Branch Manager: must work on-site; must have New Jersey mortgage loan originator license

Residential Mortgage Lender Branch License (Branch)

  • NMLS Cost: $1,020

  • Additional Costs: $15.00 per credit report, $36.25 per criminal background check

  • Branch Manager: must work on-site; must have New Jersey mortgage loan originator license

Mortgage Loan Originator (Individual)

  • NMLS Cost: $180

  • Additional Costs: $15.00 per credit report, $36.25 per criminal background check

  • Education: New Jersey requires four (4) hours of NJ-approved pre-licensure education as part of your national education requirement

  • NJ Background Check: a livescan (NJ residents) for $50.66 or manual (non-residents) fingeprinting process ($36.66) is required (contact us for details)

Qualified Individual Correspondent Residential Mortgage Lender License (Individual)

  • NMLS Cost: $530

  • Additional Costs: $15.00 per credit report, $36.25 per criminal background check

  • Education: New Jersey requires four (4) hours of NJ-approved pre-licensure education as part of your national education requirement

  • NJ Background Check: a livescan (NJ residents) for $50.66 or manual (non-residents) fingeprinting process ($36.66) is required (contact us for details)

Qualified Individual Residential Mortgage Broker License (Individual)

  • NMLS Cost: $530

  • Additional Costs: $15.00 per credit report, $36.25 per criminal background check

  • Education: New Jersey requires four (4) hours of NJ-approved pre-licensure education as part of your national education requirement

  • NJ Background Check: a livescan (NJ residents) for $50.66 or manual (non-residents) fingeprinting process ($36.66) is required (contact us for details)

Qualified Individual Residential Mortgage Lender License (Individual)

  • NMLS Cost: $530

  • Additional Costs: $15.00 per credit report, $36.25 per criminal background check

  • Education: New Jersey requires four (4) hours of NJ-approved pre-licensure education as part of your national education requirement

  • NJ Background Check: a livescan (NJ residents) for $50.66 or manual (non-residents) fingeprinting process ($36.66) is required (contact us for details)

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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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