How Much Does It Cost To Get A Mortgage License?

In commercial real estate agency you will hear many stories about commissions and fees. Wholesalers and consolidators will purchase a bulk number of room’s usually in large amounts from the hotel vendors and receive a low wholesale price for doing so. The same concept applies a company who sells their products to wholesale suppliers in bulk.

Since abrupt eyewitness accounts or rumors rarely sell a good story, except in gonzo journalism, hard facts are difficult to come by. Journalists have been granted the right to access information of private organizations and the activities of the government, but it isn’t that easy with their PR (public relations) agents blocking the way.

On July 11, 2014, the CFPB issued supervisory and enforcement guidance entitled, “Policy Guidance on Supervisory and Enforcement Considerations Relevant to Mortgage Brokers Transitioning to Mini-Correspondent Lenders.” The guidance addresses regulatory requirements applicable to mortgage brokers under the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA).

These fees range across the industry and typically range based on the number of states you choose to get licensed in. For example, the fees you would pay to AM Licensing would range from $1000 down to $400 depending on how many states you hired us for.

Additionally there are many other types of coverage that a business owner should be aware of such as insurance for Equipment, Employee Dishonesty and Crime, Property Insurance for your building and its contents, Design Professional Liability, Builder’s Risk and Employment Practices Liability Insurance to name as few.