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 State Licensing Requirements 

 
Company Licenses Description Requirements Checklist
Adjustment Service Company License This license is required of any corporation, limited liability company, association, partnership or individual engaged as principal in the business of prorating the income of a debtor to the debtor’s creditor or creditors, or of assuming the obligations of any debtor by purchasing the accounts the debtor may have with the debtor’s several creditors, in return for which the principal receives a service charge or other consideration. If the main office location (headquarters) will be engaging in Wisconsin adjustment service company activity or retaining records, the main office location is the “Company” license. If more than one location is being licensed, the remaining locations should be designated as a “Branch.” Companies whose main office location will NOT be engaging in Wisconsin adjustment service company activity or retaining records should instead submit a WI Adjustment Service Company Registration (Main Office-No Activity) New Application.
Adjustment Service Company Registration (Main Office - No Activity) This registration is specifically for a company whose main office location (headquarters) will NOT be engaging in Wisconsin adjustment service company activity or retaining records, but the company has one or more branch locations from which the Wisconsin adjustment service company activity will be conducted. Each location where Wisconsin adjustment service company activity will be conducted or records will be retained should be designated as a “Branch.” If the main office location will be engaging in Wisconsin adjustment service company activity or retaining records, the WI Adjustment Service Company License New Application should be submitted instead of this registration.
Exempt Company Registration A depository institution that voluntarily registers with the division for the purpose of sponsoring licensed mortgage loan originators that are under the depository institution’s direct supervision and control should apply for this registration. (More Details)
Loan Company License This license is required of any company, partnership or sole proprietor that does business under Section 138.09, Wis. Stats., charges interest authorized by Section 138.09(7), Wis. Stats., or assesses a finance charge on a consumer loan in excess or 18% per year. If more than one location is being licensed, one location must be selected as the “Company” license and the remaining locations designated as a “Branch.” Banks, savings banks, savings and loan associations, trust companies, credit unions or any of their affiliates do not need this license.
Loan Company Registration (Main Office-No Activity) This registration is specifically for a company whose main office location (headquarters) will NOT be engaging in Wisconsin loan company activity or retaining records, but the company has one or more branch locations from which the Wisconsin loan company activity will be conducted.
Mortgage Banker License This license is required of anyone who originates residential mortgage loans; sells residential mortgage loans or interests in residential mortgage loans; services residential mortgage loans; or provides escrow services. (More Details)
Mortgage Broker License This license is required of anyone who, on behalf of a residential mortgage loan applicant or an investor and for commission, money or other thing of value, finds a residential mortgage loan or negotiates a residential mortgage loan or commitment for a residential mortgage loan or engages in table funding. (More Details)
Payday Lender License This license is required of any company, partnership or sole proprietor that originates or services a payday loan involving a Wisconsin resident. If more than one location is being licensed, one location must be selected as the “Company” license and the remaining locations designated as a “Branch.” Banks, savings banks, savings and loan associations, trust companies, credit unions or any of their affiliates do not need this license.
Payday Lender Registration (Main Office-No Activity) This registration is specifically for a company whose main office location (headquarters) will NOT be engaging in Wisconsin payday lending activity or retaining records, but the company has one or more branch locations from which the Wisconsin payday lending activity will be conducted.
Seller of Checks This license is required of any company or sole proprietorship, who as a service or for a fee or other consideration, engages in the business as a seller of checks. (More Details)
Branch Licenses Description Requirements Checklist
Adjustment Service Company Branch License This license is required of any office that does business under Section 218.02, Wis. Stats., engages in the business of prorating the income of a debtor to the debtor’s creditor or creditors, or of assuming the obligations of any debtor by purchasing the accounts the debtor may have with the debtor’s several creditors, in return for which the principal receives a service charge or other consideration. Any location where books and records related to activity subject to Section 218.02, Wis. Stats., are maintained is required to have this license.
Exempt Branch Registration All branch offices where a mortgage loan originator sponsored by a registered entity engages in business as a mortgage loan originator on behalf of the registered entity should apply for this registration. (More Details)
Loan Company Branch License This license is required of any branch that does business under Section 138.09, Wis. Stats., charges interest authorized by Section 138.09(7), Wis. Stats., or assesses a finance charge on a consumer loan in excess or 18% per year is required to have this license. Any location where books and records affecting loans made pursuant to Section 138.09, Wis. Stats. are maintained is required to have this license. If more than one location is being licensed, one location must be selected as the “Company” license and the remaining locations designated as a “Branch.” Banks, savings banks, savings and loan associations, trust companies, credit unions or any of their affiliates do not need this license.
Mortgage Banker License (Branch) This license is required for all offices, other than the main office identified on the Mortgage Banker License, whether located in Wisconsin or not, which conduct business with Wisconsin residents. (More Details)
Mortgage Broker License (Branch) This license is required for all offices, other than the main office identified on the Mortgage Broker License, whether located in Wisconsin or not, which conduct business with Wisconsin residents. (More Details)
Payday Lender Branch License This license is required of any branch that originates or services a payday loan involving a Wisconsin resident is required to have this license. Any location where books and records affecting loans made pursuant to Section 138.14, Wis. Stats. are maintained is required to have this license. If more than one location is being licensed, one location must be selected as the “Company” license and the remaining locations designated as a “Branch.” Banks, savings banks, savings and loan associations, trust companies, credit unions or any of their affiliates do not need this license.
Individual Licenses Description Requirements Checklist
Mortgage Loan Originator (WI Resident Veteran Only) This License is required of any individual who, for compensation or gain or in the expectation of compensation or gain, takes a residential mortgage loan application OR offers or negotiates terms of a residential mortgage loan. (More Details)
Mortgage Loan Originator License This license is required of any individual who, for compensation or gain or in the expectation of compensation or gain, takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan. (More Details)
 

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