| |
Below you will find information on the following
topics for District Of Columbia: Mortgage Broker Licensing, Mortgage
Broker Training, Mortgage Broker License Requirements, District Of Columbia
Mortgage Laws and Regulations, Mortgage Broker Schools, etc.
If you would like to find information about another state then
please click
here and select the state.
District Of Columbia Mortgage License and Education Information |
| |
The Office of Banking and
Financial Institutions regulates the Mortgage Broker and/or Lender Licenses
in the District of Columbia. Under the District of Columbia Mortgage Lender and
Broker Act of 1996 a mortgage lender and/or broker license is needed to engage
in business.
To obtain a Mortgage Broker license, it is required that the following items
are completed and submitted duly:
- Application
for a Mortgage Lender and/or Broker License including the following attachments:
- Attachment A: Clean Hands Act Certification form
- Attachment B: Bond form submitted for appropriate amount:
- Attachment C: General Information form
- Attachment D: Signature and Oath of Applicants
- Attachment E: Affidavit
- Attachment F: Background Check Authorization form must be filled out for
the director, senior officer, partner and/or principal of the applicant
company.
- Attachment G: Personal Financial Report and Biographical Information for
each individual required to fill out a Background Check Authorization form.
- An application for mortgage broker license must have at least $10,000 on
deposit or in an established line of credit. Letters of credit or lines of
credit must be from either a bank or other depository institution only. A
copy of the line of credit agreement, commitment letter, and promissory note
should be submitted, if applicable.
- Financial report as well as audited statements not older than 90 days for
each individual owning, directly or indirectly, 10 percent or more of the
entity.
- If the applicant is a newly organized entity, then a beginning balance sheet,
pro forma balance sheet and income statement for the first year of operation
should be submitted.
- Certificate of Good Standing from the District of Columbia must also be
attached.
- Check made payable to DC Treasurer in the appropriate amount. The amount
will include licensing fee, investigation fee as well as a non-refundable
application fee.
In order to expedite the processing of your application, make sure that the
application is complete, the check amount is right and all the required documents
are attached.
If you would like to renew your existing license, you may visit DISB Banking
Services: Application for Mortgage Lender and/or Broker License - Renewal for
additional information. An applicant applying for a renewal license must complete
and submit the renewal application prior to the current license expiration date.
For more information, visit the Office
of Banking and Financial Institutions of the District of Columbia.
|
| |
Major Cities Include: Washington DC
This website has been prepared for informational purposes only.
Please make sure you read the site
disclaimer. |
|
Find Mortgage Licensing and Training
Information In Other States
|
| |
Alabama,
Alaska,
Arizona,
Arkansas,
California,
Colorado,
Connecticut,
Delaware,
Florida,
Georgia,
Hawaii,
Idaho,
Illionois,
Indiana,
Iowa,
Kansas,
Kentucky,
Louisiana,
Maine,
Maryland,
Massachusetts,
Michigan,
Minnesota,
Mississippi,
Missouri,
Montana,
Nebraska,
Nevada,
New
Hampshire, New
Jersey, New
Mexico, New
York, North
Carolina, North
Dakota, Ohio,
Oklahoma,
Oregon,
Pennsylvania,
Rhode
Island, South
Carolina, South
Dakota, Tennessee,
Texas,Utah,
Vermont,
Virginia,
Washington,
West
Virginia, Wisconsin,Wyoming |
|
| |
|
|