Get Licensed in Minnesota to broker and originate mortgages. We can help facilitate the entire process from start to finish to obtain your state licenses. Below is the general licensing requirements for the state, you can add to cart online and check out to purchase our services. The fees listed below are only our consulting service fees and do not include third party fees involved in obtaining the licenses.
To comply with financial statement requirements at initial application and within 90 days after a company’s fiscal year end, the company must submit financial statements and key financial data, as applicable, through NMLS. New applicants should refer to the state-specific New Application Checklist available on the State Licensing page of the NMLS Resource Center. Existing licensees should refer to the Financial Statement Requirements Summary to determine which classification of financial statement needs to be submitted.
The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1) and must match the information currently on record with the Minnesota Secretary of State.
Dollar Amount of Closed Loan Volume Surety Bond Required $0 to $5,000,000 $100,000 $5,000,000.01 to $10,000,000 $125,000 $10,000,000.01 to $25,000,000 $150,000 Over $25,000,000 $200,000
Information Source NMLS website
$1,585.00 Processing Fee
* Includes 1 Company State license and 1 individual License