West Virginia Mortgage Broker License

Summary

Get Licensed in West Virginia 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.

General Requirements

Financial Statements

Provide a financial statement prepared in accordance with Generally Accepted Accounting Principles dated within the past 90 days and demonstrating a net worth equal to $10,000. Financial statements should include a Balance Sheet, Income Statement and Statement of Cash Flows and all relevant notes thereto. If applicant is a start-up company, only an initial Statement of Condition is required. Financial statements in the same format should also be submitted for the two previous fiscal year ends.

Resident/Registered Agent

The Resident/Registered Agent section of the MU1 form should be completed with the information currently on record with the West Virginia Secretary of State.

Surety Bond

$50,000 if principal has annual mortgage loan originations of up to $3 million $75,000 if principal has annual mortgage loan originations greater than $3 million up to $10 million $100,000 if principal has annual mortgage loan originations greater than $10 million $150,000 if principal also acts a table-funded lender

Management/Org Chart

None

Business Plan

None

Source

Information Source NMLS website

$1,585.00 Processing Fee

* Includes 1 Company State license and 1 individual License