Mortgage Broker and/or Lender Licensing

License:  Illinois Residential Mortgage Broker License

Physical Office Required:  No
Qualifying Individual Required: Yes, 3 years experience or equivalent pre-licensing education
Minimum Net Worth:  Illinois headquarters: $50,000, Non-Illinois companies: $150,000, min. 20% liquidity
Financial Statements:  Audited (without IL office)
Surety Bond Amount:  $25,000 / $100k Fidelity for those without an Illinois office
Company License Fee:  $2,800

Regulated by:

Office of Banks and Real Estate
Illinois Department of Financial and Professional Regulation
100 West Randolph, 9th Floor
Chicago, Illinois 60601
Phone: 800-532-8785
Fax: 312-793-7097
FPR.MortgageLicensing@illinois.gov