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 State Licensing Requirements 

 
Company Licenses Description Requirements Checklist
Correspondent Residential Mortgage Lender License This license is required of any business entity, including a sole proprietorship, who for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly takes a residential mortgage loan application, or offers, negotiates, originates, or acquires residential mortgage loans in the primary market. Residential mortgage loans include both first and second mortgage loans on New Jersey property. This license differs from the residential mortgage lender in that the holder may not, in the regular course of business, hold mortgage loans in portfolio or service mortgage loans, for more than 90 days. (More Details)
Residential Mortgage Broker License This license is required of any business entity, including a sole proprietorship, who for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly takes a residential mortgage loan application for others, or negotiates, places or sells for others, or offers to take an application for, negotiate, place or sell, residential mortgage loans in the primary market for others. Residential mortgage loans include both first and second mortgage loans on New Jersey property. (More Details)
Residential Mortgage Lender License This license is required of any business entity, including a sole proprietorship, who for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly takes a residential mortgage loan application, or offers, negotiates, originates, or acquires residential mortgage loans in the primary market. Residential mortgage loans include both first and second mortgage loans on New Jersey property. (More Details)
Branch Licenses Description Requirements Checklist
Correspondent Residential Mortgage Lender Branch License This license is required for any location of a Correspondent Residential Mortgage Lender, other than its principal licensed office, where in the regular course of business, applications for residential New Jersey mortgage loans are distributed to or received from consumers, loan records are maintained, underwriting decisions are made, commitments or lock-in agreements are issued, or any fees or charges relating to such loans are received from consumers. (More Details)
Residential Mortgage Broker Branch License This license is required for any location of a Residential Mortgage Broker, other than its principal licensed office, where in the regular course of business, applications for residential New Jersey mortgage loans are distributed to or received from consumers, loan records are maintained, underwriting decisions are made, commitments or lock-in agreements are issued, or any fees or charges relating to such loans are received from consumers. (More Details)
Residential Mortgage Lender Branch License This license is required for any location of a Residential Mortgage Lender, other than its principal licensed office, where in the regular course of business, applications for residential New Jersey mortgage loans are distributed to or received from consumers, loan records are maintained, underwriting decisions are made, commitments or lock-in agreements are issued, or any fees or charges relating to such loans are received from consumers. (More Details)
Individual Licenses Description Requirements Checklist
Mortgage Loan Originator License This license is required for any natural person who for compensation or gain, or in expectation of compensation or gain, either directly or indirectly takes a residential mortgage loan application, or offers or negotiates terms of a residential mortgage loan. Residential mortgage loans include both first and second mortgage loans on New Jersey property. (More Details)
Qualified Individual Correspondent Residential Mortgage Lender License This license is required for a natural person who must be an officer, director, partner, owner or principal of a business entity licensed or to be licensed as a Correspondent Residential Mortgage Lender and is required as a condition of the business entity’s qualification for licensure. The individual must minimally meet all of the licensing criteria for a mortgage loan originator. (More Details)
Qualified Individual Residential Mortgage Broker License This license is required for a natural person who must be an officer, director, partner, owner or principal of a business entity licensed or to be licensed as a Residential Mortgage Broker and is required as a condition of the business entity’s qualification for licensure. The individual must minimally meet all of the licensing criteria for a mortgage loan originator. (More Details)
Qualified Individual Residential Mortgage Lender License This license is required for a natural person who must be an officer, director, partner, owner or principal of a business entity licensed or to be licensed as a Residential Mortgage Lender and is required as a condition of the business entity’s qualification for licensure. The individual must minimally meet all of the licensing criteria for a mortgage loan originator. (More Details)
 

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