Commercial Surety Bonds

Georgia Mortgage Broker Bonds

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The Georgia Department of Banking and Finance currently oversees all the licensing for individuals that wish to become a licensed Mortgage Broker in Georgia. Georgia is quite strict when it comes to qualifying a person for a license. They will ask for the following:

• Original Fingerprints
• $500 Annual License fee
• $250 Initial Investigation Fee
• $50,000 Surety Bond or Irrevocable Letter of Credit
• CPA Audited Financial Statements
• Copy of your most recent tax returns
• Passport Photo
• Net Worth requirement of $25,000

Georgia also has strict educational and experience requirements to go along with everything they require. You will need at least 2 years of verifiable experience within the mortgage industry. If you are unable to provide proof of your experience you may be required to complete 40 hours of education prior to approval for your license. If you are not a resident of Georgia you will need a minimum of two years verifiable experience and complete a 4 hour education course before licensing. If you want a license and are from out of state you need to have a physical office located in Georgia as well.

Bad Credit Georgia Mortgage Broker Bonds

Any applicant with less than perfect credit is encouraged to apply with JW Bond Consultants, Inc. We have a special program that is tailored to meet the needs of applicants that are considered higher risk.

Georgia License Requirements

Age: 18

State Residency: Required. All out of state Brokers must have a physical location within the state.

Experience: 2 years that you can prove or equivalent education with proof of completion.

Education: 2 years equivalent, must be able to prove

Continuing Education: None

Net Worth: $25,000

Surety Bond: $50,000

Background Check: Criminal and credit. Any criminal activity that has not been proven innocent will result in denial of license.

Managing Principle: Must have a licensed individual per office location

Georgia State Licensing Fees

Initial Application: $500 + $250 Investigation Fee

Branch Location: $500

Renewal Application: $500

Branch Offices:

In State Requirements: License is required for in-state offices.

Licensure Requirements: License required for all individual branch offices.

Branch Manager: None

Exemptions:

Entities: None known

Safe Harbor: None known

*This Information for licensing is provided only as a quick reference, make sure you contact the state to verify all information prior to making your application.

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