Wisconsin State Licenses and Regulator Costs

Mortgage Banker License (Company)

  • NMLS Cost: $1,100

  • Additional Costs: none

  • This license covers servicers as well, but does not cover brokering (add'l license required)

  • Minimum Net Worth: $250,000

  • Surety Bond Requirement: $300,000 (electronic)

Mortgage Broker License (Company)

  • NMLS Cost: $850

  • Additional Costs: none

  • Minimum Net Worth: $100,000

  • Surety Bond Requirement: $120,000 (electronic)

Mortgage Banker Branch License (Branch)

  • NMLS Cost: $370

  • Additional Costs: none

  • Branch Manager: must hold Wisconsin MLO license

  • Surety Bond Rider: if this is the sixth or more branch location, a surety bond rider increasing coverage by $10,000 is required

Mortgage Broker Branch License (Branch)

  • NMLS Cost: $370

  • Additional Costs: none

  • Branch Manager: must hold Wisconsin MLO license

  • Surety Bond Rider: if this is the sixth or more branch location, a surety bond rider increasing coverage by $10,000 is required

Mortgage Loan Originator (Individual)

  • NMLS Cost: $280

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

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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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