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Wisconsin Mortgage Broker License


 

Wisconsin Mortgage Broker Requirements

Mortgage brokers in the state of Wisconsin are licensed and regulated by the Wisconsin Department of Financial Institutions.

Out of state applicants seeking a Wisconsin mortgage broker license are not required to maintain a physical office in the state of Wisconsin, however, they must submit reviewed financials that demonstrate a net worth of at least $250,000 and maintain a surety bond in the amount of $120,000. Applicants with a bona-fide office in the state of Wisconsin do not need to meet these same requirements. Each office must maintain a licensed manager.

Each mortgage broker applicant must pass an exam. All loan officers are required to be licensed in the state of Wisconsin.

Wisconsin Mortgage Licensing Fees

The Wisconsin Department of Financial Institutions charges an application fee in the amount of $750.

For complete assistance on your Wisconsin Mortgage License, call American Mortgage Licensing to start your project today, 469.688.8441.