The Michigan Fee Schedule — Mortgage Loan Originators is a set of fees charged by the Michigan Department of Insurance and Financial Services (DIES) for mortgage loan originators operating in the state of Michigan. This fee schedule includes two types of fees: application fees and renewal fees. Application fees apply to all new applications for a mortgage loan originator license in the state of Michigan. The fee is $100 per application. Renewal fees apply to all mortgage loan originators who are currently licensed in the state of Michigan and renewing their license. The renewal fee is $75 per license. The Michigan Fee Schedule — Mortgage Loan Originators is applicable to all persons originating residential mortgage loans in the state of Michigan, including mortgage brokers, lenders, and any other mortgage loan originators.
Michigan Fee Schedule - Mortgage Loan Originators
Description
How to fill out Michigan Fee Schedule - Mortgage Loan Originators?
Handling legal paperwork requires attention, precision, and using well-drafted blanks. US Legal Forms has been helping people countrywide do just that for 25 years, so when you pick your Michigan Fee Schedule - Mortgage Loan Originators template from our library, you can be certain it meets federal and state regulations.
Dealing with our service is easy and quick. To obtain the required paperwork, all you’ll need is an account with a valid subscription. Here’s a quick guide for you to find your Michigan Fee Schedule - Mortgage Loan Originators within minutes:
- Make sure to carefully look through the form content and its correspondence with general and legal requirements by previewing it or reading its description.
- Look for another formal template if the previously opened one doesn’t suit your situation or state regulations (the tab for that is on the top page corner).
- ​Log in to your account and save the Michigan Fee Schedule - Mortgage Loan Originators in the format you need. If it’s your first time with our service, click Buy now to continue.
- Register for an account, choose your subscription plan, and pay with your credit card or PayPal account.
- Choose in what format you want to obtain your form and click Download. Print the blank or add it to a professional PDF editor to submit it paper-free.
All documents are created for multi-usage, like the Michigan Fee Schedule - Mortgage Loan Originators you see on this page. If you need them in the future, you can fill them out without re-payment - simply open the My Forms tab in your profile and complete your document any time you need it. Try US Legal Forms and accomplish your business and personal paperwork quickly and in full legal compliance!
Form popularity
FAQ
Mortgage Loan Originator License ? $250 application fee, $30 NMLS initial processing fee.
Fees NameFeeUnitMA License Fee$500per licenseMA Investigation Fee$115per licenseCredit Report Fee$15per licenseFBI Criminal Background Check Fee$36.25per license1 more row
You may submit a renewal request up to 30 days after the end of the regular renewal period, but there will be a late fee assessed of $25.00 per day depending on your license type.
Complete the NMLS Application You'll need to pay $250 for the Michigan portion of the licensing fee. Additionally, a credit report must be submitted at the time of application for a fee of $15.
Loan origination fees are typically about 0.5 percent to 1 percent of your loan amount. With home prices averaging around $240,000, loan origination fees could be about $1,200 to $2,400, depending on the actual price tag.
1st Mortgage Broker/Lender License Most common license type for MI brokers and/or lenders. Financial statements must show net worth of at least $25,000.