State Licensing Requirements

Mississippi

Electronic filings through NMLS may be delayed if all required items on the appropriate checklist below are not submitted to the regulator.

Check state agency website for further information: Mississippi Department of Banking and Consumer Finance

Common Requirements

The following requirements are handled through a common process for all jurisdictions:

Renewals - Annual license renewal for 2010

Financial Statements - Submitting financial statements through NMLS

Professional Requirements - Testing, education and background check requirements for individual Mortgage Loan Originators

Policy - Common policies, including the Policy Guidebook for Licensees

Company Licenses	Description	Requirements Checklist
Mortgage Lender License	This license is required by any company, individual or sole proprietor who directly or indirectly or by electronic activity originates, makes, funds or purchases or offers to originate, make, or fund or purchase a residential mortgage loan or who services mortgage loans. (More Details)	New Application Amendment Surrender
Mortgage Broker License	This license is required by an company, individual or sole proprietor who directly or indirectly or by electronic activity solicits, places or negotiates mortgage loans for others, or offers to solicit, place or negotiate mortgage loans for others that does not close mortgage loans in the company name, does not use its own funds, or who closes mortgage loans in the name of the company, and sells, assigns or transfers the loan to others within forty-eight hours of the closing. (More Details)	New Application Amendment Surrender
Branch Licenses	Description	Requirements Checklist
Mortgage Branch License	This license is required of any office other than the main office licensed inside or outside the state of Mississippi that has direct contact with consumers regarding origination or brokering of Mississippi residential property. (More Details)	New Application Amendment Surrender
Individual Licenses	Description	Requirements Checklist
Mortgage Loan Originator License	This license is required of any natural person who is an employee of a licensed mortgage broker or mortgage lender assigned to one licensed location, whose conduct of the mortgage business is the responsibility of the company, and whose job responsibilities include direct contact with borrowers during the loan origination process, which may include soliciting, negotiating, acquiring, arranging or making mortgage loans for others, assisting with the preparation of loan applications or other documents, quoting loan rates or terms, or providing required disclosures. (More Details)	New Application Amendment Surrender