Wisconsin Mortgage Broker License

Summary

Get Licensed in Wisconsin 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

Upload a reviewed financial statement prepared by a Certified Public Accountant in accordance with Generally accepted Accounting Principles. Financial statements should include a Balance Sheet, Income Statement and Statement of Cash Flows and all relevant notes thereto. The company's financial statement must show a minimum tangible net worth (total tangible assets less total liabilities) of $100,000. When evaluating a financial statement, the division typically discounts intangible assets; receivables from officers, stockholders, and other related parties; employee advances; receivables over 120 days past due; and any other assets of questionable value.

Resident/Registered Agent

The Resident/Registered Agent section of the NMLS Company Form should be completed with the information currently on record with Wisconsin Department of Financial Institutions.

Surety Bond

$120,000 furnished and submitted by a surety company authorized to conduct business in Wisconsin.

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