Broker Requirements:

(1) $350 license fee (main office)

(2) $350 license fee (additional licensed offices)

(3) $44 processing fee for fingerprints, please provide fingerprint cards (2 sets)

(4) Criminal background check completed

(5) Minimum FICO score of 575 for applicant

(6) Financial statements showing minimum net worth of $10,000; audited financials are preferred but NOT required. Must be current within 90 days.

(7) $50,000 Surety Bond

(8) 10 yrs employment/experience and residence history

(9) Registered Agent

NOTE:For excellent resources to those wanting to become Mortgage Broker in this state, please visit and register at www.business4wv.com.

Loan Officer Requirements:

(1) Completed packets must be sent with Mortgage Broker packets

(2) Fingerprints for background check w/ $44 processing fee

(3) $150 application/licensing fee per applicant

Contact Information:

West Virginia Division of Banking

1900 Kanawha Boulevard, East

Building #3, Room 311

Charleston, WV 25305-0240

Phone: 304.558.2294

Fax: 304.558.0442

Website: www.wvdob.org/professionals/n_mortgage.htm

Map of West Virginia Division of Banking: