Mortgage Broker Licensing

License:  Maine Loan Broker License

Physical Office Required:  No
Qualifying Individual Required: On site designated manager, but no prior experience requirements
Minimum Net Worth:  $25,000
Financial Statements:  Unaudited (certified by officer)
Surety Bond Amount:  $25,000
Company License Fee:  $500

Mortgage Lender Licensing

License:  Maine Supervised Lender License

Physical Office Required:  No
Qualifying Individual Required:  Yes, on-site manager
Minimum Net Worth:  $25,000 for each licensed location
Financial Statements:  Audited
Surety Bond Amount:  $50,000 per licensed location
Company License Fee:  $350

Regulated by:

Office of Consumer Credit Regulation
35 State House Station
Augusta, Maine 04333-0035
Phone: 207-624-8527
Fax: 207-582-7699