| Colorado Mortgage Licensing Requirements |
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In state Brokers are Required to have an LLC, but are not required to have a physical location. In Colorado, the licensing requirements mostly fall on the individual Loan Officer. If you are an out of state broker, looking to do business in Colorado must register with the Colorado Secretary of State.
Brokers Requirements for those who Raise Money from Individual Investors to Fund Loans:You will need a license under Securities Division. Please see following link for information before applying -http://www.dora.state.co.us/securities/mb(i).htm When applying for a Mortgage Broker-Dealer and/or Sales Representative license(s) file the following documents (refer to Fee Schedule for specific requirements): (1) Checks payable to the Colorado State Treasurer (2) Mortgage Broker Form or Agent application (Form U-4) for each person who representing firm (3) Proof the applicant has passed the Uniform Securities Agent State Law Examination (Series 63) - if licensed as a Real Estate Broker or Salesman, you are excused from this examination requirement, must provide proof of license (4) Designated Supervisor -one person must be designated as primary to supervise all licensed sales representatives (5) Mortgage Broker-Dealer maintaining possession or control of investor funds must meet certain financial requirements - options for requirements are listed in Rules.
Loan Officer Requirements:No Individual Loan Officer Requirements (besides 18 years of age). The state is hinting that this might change in the near future.
Contact Information for Broker Registration:Colorado Division of Real Estate Phone: 303.894.5953 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it Website: www.dora.state.co.us
Contact Information for Brokers who Raise Money from Individual Investors to Fund Loans:Colorado Division of Securities 1560 Broadway, Suite #900 Denver, Colorado 80202
Map for Colorado Division of Securities:View Larger Map
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