Alabama MORTGAGE BROKER LICENSE

1. Any person who directly or indirectly solicits, processes, places, or negotiates mortgage loans for a borrower, or offers to solicit, process, place, or negotiate mortgage loans for a borrower is required to be licensed under the Alabama Mortgage Broker Licensing Act. Each entity, however organized, must file a Company (MU1) Form for the company, an Individual (MU2) Form for each control person and executive officer if applicable, a Branch (MU3) Form for each branch location, and an Individual (MU4) Form for each mortgage loan originator working for the entity. THIS LICENSE COVERS COMPANIES THAT CONDUCT MORTGAGE BROKERING, MORTGAGE PROCESSING, MORTGAGE UNDERWRITING, OR LEAD GENERATION. 2. The Resident/Registered Agent section of the Company (MU1) Form should be completed with the information currently on record with the Secretary of State of Alabama. 3. Applicants must list d/b/a names in the “Other Trade Names” section on Company (MU1) Form for Alabama. 4. Financial Statements should be submitted through the Filing Tab in NMLS prior to the submission of your Form MU1 filing. For additional help, see the Financial Statement Information page and quick guide posted on the NMLS website here; http://mortgage.nationwidelicensingsystem.org/slr/common/fs/Pages/default.aspx Provide a financial statement prepared by a Certified Public Accountant in accordance with Generally Accepted Accounting Principles covering the last fiscal year end. Financial statements should include a Balance Sheet, Income Statement and all relevant notes thereto. 5. The fees associated with this license type can be found on the License Requirements and Fees Charts on the NMLS Resource Center. 6. All fees are collected through the NMLS and ARE NOT REFUNDABLE. 7. The regulator will review the filing and all required documents and communicate with you through NMLS. To review your status in NMLS, click the Tasks tab and click Work List. 8. Each branch location, wherever located, desiring to conduct business under this license authority must be separately authorized and will require a filing of the Branch (MU3) Form through NMLS. 9. Each individual originating mortgages needs to be separately authorized and licensed and will require a filing of Form MU4 through NMLS. After the Individual (MU4) Form is submitted, the company must submit a sponsorship request to the regulator before the individual MU4 license will be approved. A quick guide entitled “Create a Company Sponsorship” at the following link will help walk you through this process: NMLS Quick Guides. 10. Jurisdiction-specific requirements as identified on the checklist below must be submitted through NMLS: NMLS Unique ID Number: ________________________ Applicant Legal Name: ______________________________________ City & State: ______________________________________