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Renew License. Publications and Reports. Jobs at DoBS. For Media. Budget Hearing Materials Page Content. Mortgage lenders directly or indirectly originate and close mortgage loans with their own funds in the primary market for consideration. Mortgage brokers directly or indirectly negotiate or place mortgage loans for others in the primary market for consideration.
Mortgage loan correspondents directly or indirectly originate and close mortgage loans in their own names utilizing funds provided by a wholesale table funder or other funding source and simultaneously assign the loans to the wholesale table funder. Mortgage originators are individuals who take mortgage loan applications or offer or negotiate terms of mortgage loans for compensation or gain. Contact Us: For issues or questions regarding an application, contact the Licensing Office or call For examinations issues, contact the Examination Office or call For compliance issues, contact the Compliance Office or call Applicants must also complete a Pennsylvania State Police criminal background check by using the Pennsylvania Access to Criminal History website.
Credit report: All mortgage broker license applicants must also authorize for a credit report to be completed through NMLS, and they must also complete the Identify Verification Process.
Tax Certification: Applications for a Pennsylvania mortgage brokers license must also include a certified memorandum indicating that all of their tax obligations to the Commonwealth of Pennsylvania have been paid or that a deferred payment plan with the Pennsylvania Department of Revenue has been put in place.
Disclosures: Individuals must also complete a disclosure questionnaire. In the event that the answer to any disclosure question is yes, the applicant may be required to provide supporting documents, such as court proceedings.
Surety Bond: Applicants for a mortgage broker license must also provide proof that they have secured a surety bond by a company authorized to conduct business in Pennsylvania. The completed application and attachments can be submitted online through NMLS. Alternatively, the applicant can submit the application through NMLS and mail the attachments to the Pennsylvania Department of Banking and Securities. Attachments must be received within five days of the application submission on NMLS.
Annual renewal of a Pennsylvania mortgage brokers license is required. Renewals can be completed online through NMLS. In addition to the eight hours of continuing education that is required for the renewal with one hour specific to Pennsylvania laws , renewal fees must be paid at the time of completing the renewal request. The Mortgage Licensing Group, Inc. Established in , our company has been on the forefront of the ever-changing rules and regulations, helping alleviate the often daunting task of meeting the diverse state licensing requirements for our clientele.
Types of Mortgage Broker Licenses Pennsylvania has three different mortgage licenses — for a company, a branch, or an individual.
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