Physical Location Required

Individual Loan Officer Licensing Required?

Testing Required to Become Loan Officer?

Part of the Nationwide Mortgage Licensing System?

License Required for Loan Modification?

Yes

Broker Requirements:

(1) $350 non-refundable investigation fee

(2) $25,000 Surety Bond (for each licensed location)

(3) Recent financial statements in accordance with GAAP and signed by officer of company (CPA sudited are not required at this time)

(4) Business/Personal past "biography"

(5) $350 annual renewal fee

(6) No physical location is required; however, if out of state, ou must hava a Registered Agent

(7) Background check completed, but NO fingerprint cards are required at this time

Loan Officer Requirements:

Individuals are not licensed in the state of Vermont.

Vermont Department of Banking, Insurance, Securities & Health Care Administration - Banking Division

89 Main Street, Drawer 20

Montpelier, VT 05620-3101

Phone: 802.828.3301

Website: www.bishca.state.vt.us

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