Texas Mortgage Broker Requirements
American Mortgage Licensing is your one stop shop to receive a Texas Mortgage Company or Banker License. We fully complete your application, file it with the state agency and follow up with the agency until you are approved. We will also assist in setting up your classes and exam. We also provide office solutions to meet the in-state physical office requirement for companies seeking a license from outside the state of Texas.
Total combined cost for the Texas state filing fees and licensing services are roughly $1,609* through American Mortgage Licensing. To receive a proposal or to get started on your application, contact us today at 469.688.8441, or you can use the contact us form below.
What are the requirements to obtain a Texas Mortgage Company License?
The Texas Mortgage Company License has two portions; an individual (loan originator) license and a company license. The new state requirements call for only 20 hours of education and there are no longer minimum experience requirements. If you have not completed the standard NMLS 20 hour course, we can help set up these courses on your behalf with the state's best education providers.
The Texas Mortgage Company License covers all 1st mortgages in Texas and any 2nd mortgage with an interest rate of less than 10%. If a broker/lender will be offering 2nd mortgages that are greater than 10%, they must also obtain the Texas Regulatory Lender License through the Office of Consumer Credit Commission (OCCC). AM Licensing can assist in obtaining this license as well.
There are no minimum net worth requirements for the Texas Mortgage Company License. There is also no longer a surety bond requirement.
What does this mean?
If you will only be brokering loans with an interest rate of less than 10% then you will only need to apply for the Texas Mortgage Company License and a Texas Mortgage Loan Originator License for any individual that will originate loans.
What are the Fees?
|American Mortgage Licensing's services
|Texas Filing Fees (Broker and Company)
|Surety Bond Premiums
|Education Courses (Depends on the number of hours required)
||NMLS 20 Hour Course - $290
How do I Start the Process?
To begin your project immediately, contact American Mortgage Licensing at 469.688.8441, or use the form below. We will be happy to answer any questions you have on the Texas Mortgage Company License. If you are interested in additional states, please browse our website for information and pricing discounts on multi-states. We license brokers, lenders and mortgage servicers in all fifty states.
We look forward to the opportunity to serve you. Please let us know what we can do for you.