West Virginia Mortgage Broker Bonds

License Overview

Mortgage Brokers in the state of West Virginia are regulated by the West Virginia Division of Banking. Before applying for an application West Virginia Mortgage Brokers are required to register their company at the West Virginia web site. The state also has a credit score requirement for all applicants wishing to be licensed. The minimum FICO score the state will accept is a 575. If you are below a 500 FICO your application will not be considered. FICO scores between 500 and 575 may be considered but a written explanation must be submitted and you will be required to justify all credit issues.

Mortgage Brokers in the state of West Virginia are regulated by the West Virginia Division of Banking. Before applying for an application West Virginia Mortgage Brokers are required to register their company at the West Virginia web site. The state also has a credit score requirement for all applicants wishing to be licensed. The minimum FICO score the state will accept is a 575. If you are below a 500 FICO your application will not be considered. FICO scores between 500 and 575 may be considered but a written explanation must be submitted and you will be required to justify all credit issues.

Bad Credit West Virginia 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.

West Virginia License Requirements

Age: No Requirement

State Residency: No Requirement

Experience: A background in the mortgage industry with a verified 10 years of work

Education: No Requirement

Continuing Education: No Requirement

Net Worth: $10,000

Surety Bond: $50,000 minimum and up to $100,000 for tabling funds

Free Surety Bond Quote

Background Check: Criminal & credit checking

West Virginia State Licensing Fees

Initial Application: $350

Branch Location: $350

Renewal Application: $350

Branch Offices:

In State Requirements: No Requirement

Licensure Requirements: Physical location not required

Exemptions:

Entities: Attorney, Banks, Credit Union, Savings and loan Company

Safe Harbor: None

*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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