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Mortgage lender, broker, and loan originator information for consumers

The Division of Banks licenses and examines mortgage lenders, brokers, and loan originators. Learn more about the regulation of mortgage lenders, brokers, and loan originators and their differences.

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Mortgage lenders

  • Mortgage lenders, are considered any persons engaged in the business of making mortgage loans or issuing commitments for mortgage loans.

Mortgages brokers

  • Mortgages brokers, are considered any persons who directly or indirectly negotiates, places, assists in placement, or finds mortgage loans on residential property for others for compensation or gain, or in the expectation of compensation or gain.  Mortgage brokers may also offer to negotiate, place, assist in placement or find mortgage loans on residential property for others.

Loan originators

  • Loan Originators, are considered any persons who for compensation or gain, or in the expectation of compensation or gain, takes a residential mortgage loan application or offers/negotiates terms of a residential mortgage loan.

Regulatory authority

The Division of Banks licenses and examines mortgage lenders, brokers, and loan originators. 

Mortgage lenders making 50 or more home mortgage loans in the previous calendar year are examined to assess their record of meeting the mortgage credit needs of the Commonwealth, including low-and moderate-income neighborhoods and consumers, consistent with safe and sound lending practices. 

Verify licenses of mortgage lenders, brokers, or loan originators

License information for mortgage lenders, brokers, and loan originations can be found using the Nationwide Multi-State Licensing System (NMLS).

  • NMLS is a free service to confirm that the financial-services company or professional you are working with or plan to work with is authorized to conduct business in their state.
  • The NMLS also contains licensing/registration information on consumer finance, debt and money service companies, branches, and individuals licensed by state and federal regulatory agencies participating in NMLS. 
  • Updates to the NMLS are made nightly on business days to ensure the most current information is available.
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