American Mortgage Licensing provides full service assistance for mortgage professionals seeking a Georgia Mortgage Broker license, or Georgia Lender license. We manage the entire Georgia mortgage broker or lender licensing process to ensure that your applications have the best chance at an expedited approval.
Georgia Mortgage Broker Requirements
Mortgage brokers in Georgia are governed by the Georgia Department of Banking and Finance.
A physical office in the state of Georgia is not required for mortgage brokers or lenders unless the company's state of incorporation requires a physical office in their state. That is somewhat confusing, but if your home state requires brick and mortar (physical office), Georgia will in turn also require you to have a physical office in Georgia. Please review information on your homes state's broker requirements page if you are unsure.
Mortgage brokers seeking a license in Georgia are required to either provide a surety bond in the amount of $50,000 or a $50,000 Irrevocable Letter of Credit. Also, financial statements are required and must show a minimum tangible net worth of $25,000. Georgia requires brokers to have 40 hours of pre-licensing education unless the broker has 2 years of verifiable experience. In this case the broker will only be required to take a 4 hour online course pertaining to Georgia laws and regulations.
Loan officers must be W2, but are not currently licensed. Each branch office must have a branch license and designated manager.
Georgia Mortgage Licensing Fees
Mortgage brokers seeking a Georgia mortgage license must pay a $250 investigation fee and a $500 annual license fee.
For complete assistance on your Georgia Mortgage License, call American Mortgage Licensing to start your project today, 469.688.8441.
If you're a Do-It-Yourself kind of person and just want someone to guide you through the process while you do all the paperwork, you will want to check out our sister company website for the Georgia Broker and Lender License Guide. Here, you can download complete guides on how to work your way through each state's mortgage application. This information is priceless as it will save you countless hours of research and ensure that your company submits an application that will be accepted by the state agencies.