(1) $450 License/Application Fee & Non-Refundable Investigation Fee (each for 1st mortgages and 2nd mortgages)

(2) $25,000 Surety Bond (if applying for 2nd mortgage only)

(3) Complete 10 yr personal and employment history

(4) Personal Disclosure Statement signed

(5) Confidential Background Info Consent Form signed

(6) Financials showing net worth of $25,000

(7) If no physical office in state, must have an approved Registered Agent.

NOTE: There is a separate license for Mortgage Broker's handling 1st mortgages and 2nd mortgages. An applicant may apply for one or both types of licensing. Please visit the Labor & Ecomonic Growth website below for application, fee information, etc.

Loan Officer Requirements:

(1) 18 Years of Age

(2) Passing score of at least 75% on loan officer examination, prior to application

(3) Complete application 

(4) Criminal Background Check

(5) Pre-registration education (prior to application)

            - Exception to the requirement: Applicant has originated

      mortgage loans for 4.5 out of the last 5 years 

Contact Information:

Michigan Labor & Economic Growth

P.O. Box 30004

Lansing, MI 48909

Phone: 517.373.1820

Fax: 517.373.2129

Website: http://www.michigan.gov/dleg/0,1607,7-154-10555_22535_22536---,00.html

Map of Michigan Labor & Economic Growth

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