Minnesota Mortgage Licensing

Mortgage Banker or Broker

Residential Mortgage Originator License

Physical In-State Office Required: No
Qualifying Individual: No
Minimum Net Worth: $0
Surety Bond: $100,000
Education/Experience: None
Exemptions: Exemption from Bond Requirement went away on 12/31/2010

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$225 – Foreign Entity App
$125 – Registered Agent Fee
$1,200 – Company License Fee
$1,000 – MN $100k Surety Bond

Mortgage Servicer

Residential Mortgage Servicer License

Physical In-State Office Required: No
Qualifying Individual: No
Minimum Net Worth: $0
Surety Bond: $100,000
Education/Experience: None

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$225 – Foreign Entity App
$125 – Registered Agent Fee
$650 – Company License Fee
$1,000 – MN $100k Surety Bond

Regulated by:

Department of Commerce

85 7th Place East, Suite 500
St. Paul, MN 55101
Phone: 651-296-2135
Robin Brown | 651-282-9855