| Description: |
An individual who, on behalf of a mortgage banker or mortgate broker, finds a loan or negotiates a land contract, loan or commitment for a loan. Any individual, including an officer, W-9 subcontractor employee or W-2 hourly or salaried employee who performs such activities on behalf of a mortgage banker or mortgage broker, must be licensed.
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| License Type: |
Original
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| Duration: |
2 years.
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| Fees: |
Registration fee of $250.00; renewal fee of $250 every two years from the month the license is issued; additonal $100 fee if renewing after expiration date.
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| Prerequisites: |
Verification by signature of licensed mortgage broker or mortgage banker, as provided in Sec. 224.72 (3), Wis. Stats. Supply individual's Social Security number.
A loan originator may only work on behalf of ONE mortgage banker or mortgage broker at any given time. A loan originator that wishes to work on behalf of a new registered mortgage banker or mortgage broker must apply on forms prescribed and provided by the division and submit the required fee, as provided in Chapter DFI - Banking 41 of the Wisconsin Administrative Code.
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| Wisconsin Statutes: |
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| Administrative Rules/Codes: |
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Contact Information
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| Contact:
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Mortgage Banking Section
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Home Page: |
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| E-mail : |
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| Hours
of Operation: |
7:45 a.m. - 4:30 p.m., Monday through Friday
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| Phone: |
(608)266-8308
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| Fax: |
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| TTY/TDD: |
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| Mail
Address: |
PO Box 7876,
Madison,
WI
53707-7876
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| Street Address: |
345 West Washington Avenue, 4th Floor,
Madison,
WI
53707
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| Agency Web Site: |
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For additional assistance with business-related license, permit and registration information please email the Department of Commerce's Business Development Assistance Center or phone them at 1-800-HELP-BUS(iness) (1-800-435-7287).
In addition, you may also find business start-up information at Build Your Business.
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