Washington State Licenses and Regulator Costs

Consumer Loan Company License (Company)

  • NMLS Cost: $1,162.21

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

  • Surety Bond Requirement: $100,000 or $30,000 (servicers only)

Mortgage Broker License (Company)

  • NMLS Cost: $1,001

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

  • Surety Bond Requirement: $20,000

Consumer Loan Branch License (Branch)

  • NMLS Cost: $604.46

  • Additional Costs: none

  • Branch Manager: must hold Washington MLO license (unless supervises only loan processors and/or underwriters)

Mortgage Broker Branch License (Branch)

  • NMLS Cost: $205

  • Additional Costs: none

Designated Broker Registration (Individual)

  • NMLS Cost: $30 (Yes, $30)

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

  • Testing: requires WA-specific test outside of NMLS

  • Requires HS diploma and two (2) years of mortgage experience

Mortgage Loan Originator (Individual)

  • NMLS Cost: $155

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

  • Education: Total of 22 hours of NMLS education, including four (4) hours of WA-approved pre-licensure education

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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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