Georgia Mortgage Broker/Processor License
company licence · NMLS GABROKPROCLIC_C · DBF
This application is to be completed and filed by each applicant, regardless of whether it is organized as a company or sole proprietorship, for a license or registration to engage in a mortgage business as a broker or processor. Pursuant to the Georgia Residential Mortgage Act, “Mortgage Broker” means any person who directly or indirectly solicits, processes, places, or negotiates mortgage loans for others, or offers to solicit, process, place, or negotiate mortgage loans for others or who closes mortgage loans which may be in the mortgage broker's own name with funds provided by others and which loans are assigned within 24 hours of the funding of the loans to the mortgage lenders providing the funding of such loans.
Requirements (17)
Step 1
Financial Statements: Upload a copy of the most recent fiscal year financial statements prepared in compliance with generally accepted accounting principals (GAAP). NOTE: Financial statements should include at a minimum a balance sheet, income statement and all relevant notes thereto. If the applicant is a start-up company, if determined to be acceptable by the Department, a beginning balance sheet and a pro forma balance sheet and income statement for the first year of operation may be provided.Submitted via: Upload in NMLS: under the Document Type Additional Requirements in the Document Uploads section of the Company Form (MU1).
Step 2
Other Trade Name/DBA: If operating under a name that is different from the applicant’s legal name, that name (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). The Department of Banking and Finance does not limit the number of trade names. Applicants should not include “dba” in front of their Other Trade Name. The name input in NMLS should be exactly as it will be used in advertising, documents, etc. Applicants should indicate if the Other Trade Name is forced by a state by checking the box in the forced column. A forced Other Trade Name is one that is required to be used because the state’s Secretary of State or other agency will not allow the company to use its legal name. Other Trade Names must not include the words “corporation, incorporated, etc.” or any variation/abbreviation that would give the impression the entity is incorporated. NOTE: The only exception to this will be in the case where the Trade Name is a “forced” name for Georgia in instances where the name is not available. Pursuant to O.C.G.A. § 10-1-490, trade names are registered with the clerk of superior court of the county in which the business is chiefly carried on or, in the case of a domestic corporation using a trade name, in the county of its legal domicile.Submitted via: NMLS
Step 3
Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1). The registered agent for service of process must be located in the State of Georgia and must have a physical address in this state where he/she may be served. For corporate, LLC and partnership applicants, if the applicant is an entity organized in Georgia, the agent for service must be the same natural person or legal entity recorded with the Georgia Secretary of State.Submitted via: NMLS
Step 4
Primary Contact Employees: The following individuals must be entered into the Contact Employees section of the Company Form (MU1). The primary company contact should be an owner/officer/employee of the company and NOT a third party (e.g., CPA firm, consultant). 1. Primary Company Contact. 2. Primary Consumer Complaint Contact.Submitted via: NMLS
Step 5
Credit Report: Owners with 10% or more direct or indirect interest in the applicant, executive officers, and other persons with control are required to authorize a credit report through NMLS. Such individuals will be required to complete an Identity Verification Process (IDV) along with an individual attestation before a license request for your company can be filed through NMLS. This authorization is made when the Individual Form (MU2) is submitted as part of the Company Form (MU1).See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.Submitted via: NMLS
Step 6
MU2 Individual FBI Criminal Background Check Requirements: Owners with 10% or more direct or indirect interest in the applicant , executive officers, and other persons with control are required to authorize an FBI criminal background check (CBC) through NMLS. A criminal background increases the difficulty of making a favorable finding on an application. No individual that has been convicted of or entered a plea of guilty or nolo contendere to a felony (a) within the previous seven years or (b) at any time, if such felony is a disqualifying crime as defined by O.C.G.A. § 7-1-1007(7.1) is eligible to be an MU2/control person of a licensee unless the felony has been remedied pursuant to O.C.G.A. § 7-1-1004(i). After authorizing an FBI criminal background check through the submission of the Company Form (MU1) and Individual Form (MU2), you must schedule an appointment to be fingerprinted. Note:If you are able to ‘Use Existing Prints’ to process the FBI criminal background check, you DO NOT have to schedule an appointment. NMLS will automatically submit the fingerprints on file. See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.Submitted via: NMLS
Step 7
Electronic Surety Bond: Electronic Surety Bond via NMLS in the amount of $150,000 furnished and submitted by a surety company authorized to conduct business in Georgia. The name of the principal insured on the bond must match exactly the Full Legal Name of applicant on the MU1 and any organizing documents. See the ESB Adoption Table and the ESB for NMLS Licensees page of the NMLS Recourse Center for more information.Submitted via: Electronic Surety Bond in NMLS
Step 8
Business Plan: Upload a business plan describing company operations and include, at a minimum, the following: • State the business activities that will be conducted in Georgia; • Mortgage activities (e.g., brokering, processing, lending, servicing, underwriting, etc.); • Products offered (Conventional loans, Government loans, etc.); • Target markets (consumers, businesses, etc.); • Marketing strategies; and, • Operating structure. Note: A company should only upload a single business plan. If state-specific material is required, this information should be added to the existing uploaded business plan. This document should be named [Company Legal Name] Business Plan.Submitted via: Upload in NMLS: under the Document Type Business Plan in the Document Uploads section of the Company Form (MU1).
Step 9
Certificate of Authority (Foreign/Out-of-State Entities):Upload a State-issued and approved document (typically by the Secretary of State’s office) that demonstrates authorization to do business in Georgia. This document should be named [[State prefix] Certificate of Authority.Submitted via: Upload in NMLS: under the Document Type Certificate of Authority/Good Standing Certificate in the Document Uploads section of the Company Form (MU1).
Step 10
Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the applicable documentation. Original formation documents and all subsequent amendments, thereto including a list of any name changes. For organizations being formed as domestic (Georgia) corporations, LLCs, LLPs, etc., the type of organizing document will vary (e.g., Certificate of Incorporation/Certificate of Organization/Certificate of Partnership). Please note that a Sole Proprietorship does not have to be registered with the Georgia Secretary of State; therefore, the applicant is not required to submit Articles or Certificate of Authority but should file the business name as an “Other Trade Name” in NMLS. This document should be named Formation Documentation [Date of Creation (MM-DD-YYYY)].Submitted via: Upload in NMLS: under Formation Document” in the Document Uploads section of the Company Form (MU1).
Step 11
Management Chart: Submit a management chart displaying the applicant’s executive officers/control persons (individual name and title). Executive Officers/Control Persons: Individuals, regardless of title, who have the power, directly or indirectly, to direct the management or policies of a person, whether through the ownership of voting or nonvoting securities, by contract, or otherwise. Can include: Board of Directors, President, Executive Vice President, Senior Vice President, Treasurer, Secretary, or similarly elected or appointed senior corporate officers; Chief Executive Officer, Chief Financial Officer, Chief Operations Officer, Chief Compliance Officer/BSA Officer, and Chief Information Security Officer. Note: It is important that the management chart identifies, at a minimum, the highest-ranking individual at the company, as well as the individuals that oversee the functional areas of finance, operations, compliance, internal audit and information security. A company must have an individual or individual(s) who operate in the capacity of a board of directors and carry out the responsibilities of the board of directors as defined in O.C.G.A. 7-1-1023. If the existing uploaded management chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart. This document should be named [Company Legal Name] Management Chart.Submitted via: Upload in NMLS: under Management Chart in the Document Uploads section of the Company Form (MU1).
Step 12
Organizational/Ownership Chart: Submit a chart showing the total percentage of ownership of: • Direct Owners • Indirect Owners Note: Georgia's threshold for direct and indirect ownership disclosure is 10%. All owners with 10% or more direct or indirect interest in the applicant must be identified on the organizational chart. If a trust is listed as an owner, the trustee(s) must be identified. If the existing uploaded Organizational/Ownership Chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single organizational chart. This document should be named [Company Legal Name] Organizational Chart – Description.Submitted via: Upload in NMLS: under Organizational Chart/Description in the Document Uploads section of the Company Form (MU1).
Step 13
BSA/AML Policy: Upload the most recent version of the Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Policy. Companies are encouraged to review guidance on FinCen’s website as well as examination manuals that can be found here for mortgage companies prior to the submission of the BSA/AML policy to ensure full compliance with the BSA/AML regulations. Below are the components of the policy that must be addressed for a new license application: 1. Risk Assessment – Requirement that a risk assessment be performed, the process used to develop the risk assessment including definitions of risk ratings such as high, medium, and low, how the risk assessment will be used by the company, that it be reviewed by the Board or management, and the time frame and/or events that would require it to be reviewed and updated. 2. Board/Management Governance – Requirement that the Board or management shall be informed of all BSA/AML initiatives, identified deficiencies within the program, corrective action taken, all SARs filed, and changes to the BSA/AML program. 3. Internal Routines and Controls – Requirement that the company will meet all regulatory requirements; requires the implementation of a risk-based customer identification program, OFAC, and customer due diligence along with the processes and procedures that will be used; requires sufficient controls, defines monitoring systems, and identifies reportable transactions, including when SARs and CTR’s/Form 8300 will be used; and provides for the adequate supervision of employees that engage in activities covered by BSA and its implementing regulations. 4. Independent Testing – Requires the completion of the independent testing and that the scope should be commensurate with the size and complexity of the organization. The policy should also specify the timeframe in which the independent testing will be conducted. 5. BSA/AML Compliance Officer – Designates a Compliance Officer, provides a description of the BSA/AML officers responsibilities, defines the reporting structure of the BSA/AML officer, and provides for program continuity in the event of changes or departure of the BSA/AML officer. 6. BSA/AML Compliance Training and Job Descriptions – Requirement that training should be provided to all new hires, specify the time frame that all existing employees will receive ongoing training, requirement that the training should be specific to the individuals job responsibilities, including ongoing training for directors, senior management, and the BSA/AML officer. In addition, the policy should require that BSA/AML compliance be included in job descriptions and performance evaluations of appropriate personnel. 7. Record Retention – Defines the record retention requirements under the BSA/AML regulations.Submitted via: Upload in NMLS: under AML/BSA Policy in the Document Uploads section of the Company Form (MU1).
Step 14
Information Security/Cybersecurity Policy: Upload the most recent version of your company’s Information Security/Cybersecurity Policy. Companies are encouraged to review guidance for the Safeguards Rule on the Federal Trade Commission’s (FTC) website prior to the submission of the Information Security/Cybersecurity Policy to ensure full compliance with information security regulations. Below are the components of the policy that must be addressed for a new license application: 1. Designated Individual – Designate an individual (e.g. Chief Information Security Officer) that is qualified to implement and supervise the information security program. 2. Reporting to Board/Management – The Designated Individual must report in writing regularly – and at least annually – to the Board of Directors or other governing body. If your company does not have a Board or its equivalent, the report must go to a senior officer responsible for the information security program. 3. Risk Assessment – Conduct a risk assessment to determine foreseeable risks and threats – internal and external – to the security, confidentiality, and integrity of customer information. 4. Safeguards – Design and implement safeguards to control the risks identified through the risk assessment. 5. Monitor and Test – Requires regular monitoring and testing to determine the effectiveness of your safeguards. 6. Training – Provide employees with security awareness training and schedule regular ongoing training. 7. Monitor Service Providers – Ensure that any service providers used are qualified and that they maintain appropriate controls to safeguard consumer information. 8. Periodic Updates – Keep the information security program current. 9. Incident Response Plan – Requires a written incident response plan to address any potential security event. 10. Notification of Information Security Event – The Department and the FTC must be notified in the event of a qualifying information security incident. 11. Business Continuity Plan – Requires a written business continuity and disaster recovery plan.Submitted via: Upload in NMLS: under Additional Requirements in the Document Uploads section of the Company Form (MU1).
Step 15
Verification of Lawful Presence Within the United States. This form must be completed by any one of the individuals listed as an owner or officer on the company’s MU1. Be sure to include a copy of the secure and verifiable document selected. Click here to download the Affidavit package. This document should be named [Company Legal Name] GA Affidavit.Submitted via: Upload in NMLS: under Legal Name/Status Documentation in the Document Uploads section of the Individual Form (MU2).
Step 16
State Background Check Authorization: Individuals identified as control persons (as defined above) listed on the Company Form (MU1) are required to upload an executed original copy of the Background Check Authorization Form consenting to a criminal history record check on the proposed control persons. Click here to download the Background Authorization form. Note: This is separate from the NMLS federal background check for the submission of the Individual Form (MU2). This document is required regardless if it has been submitted for a prior or current application.Submitted via: This document should be named [State Abbreviation] – BC Authorization.
Step 17
Tangible Net Worth: Minimum tangible net worth of $50,000.Submitted via: NMLS
General information
GENERAL INFORMATION
Who Is Required to Have This License/Registration?
Pursuant to the Georgia Residential Mortgage Act (GRMA), located in the Official Code of Georgia Annotated (O.C.G.A.) § 7-1-1000 et. seq.), a “Mortgage Broker” is any person (individual, sole proprietorship, corporation, limited liability company, partnership, trust, or any other group of individuals, however organized), unless otherwise exempt, who directly or indirectly solicits, processes, places, or negotiates mortgage loans for others, or offers to solicit, process, place, or negotiate mortgage loans for others or who closes mortgage loans which may be in the mortgage broker's own name with funds provided by others and which loans are assigned within 24 hours of the funding of the loans to the mortgage lenders providing the funding of such loans in Georgia.
Loan Processors are, by definition, required by Georgia law to have a mortgage broker’s license unless such person is otherwise exempt under Georgia law.
Georgia law defines a mortgage loan as a loan or agreement to extend credit made to a natural person, which loan is secured by a deed to secure debt, security deed, mortgage, security instrument, deed of trust, or other document representing a security interest or lien upon any interest in one-to-four family residential property located in Georgia, regardless of where made, including the renewal or refinancing of any such loan.
Laws governing the residential mortgage industry are primarily found in the GRMA. Access to the entire Georgia Code is provided by LexisNexis from the Georgia General Assembly's website. Go to the O.C.G.A.
Rules governing the residential mortgage industry are primarily located at Chapter 80-11. Certain application, investigation, supervision, examination and other fees are also found at Chapter 80-5.
Activities Authorized Under This License/Registration
This license authorizes the following activities. See the Business Activities Definitions for a full list and description of the activity.
• First mortgage brokering
• Second mortgage brokering
• Foreclosure consulting/foreclosure rescue
• Home equity lending/lines of credit
• Reverse mortgage brokering
• High cost home loans
• Third party mortgage loan processing
• Lead generation
• Mortgage loan modifications
• Manufactured housing financing
What do I need to know before I apply?
Physical Place of Business: Effective January 1, 2021, a physical place of business is no longer required to obtain a mortgage broker/processor license/registration in Georgia.
On-site Manager: An on-site manager is required to be appointed for the main office and all other Georgia locations where the licensee conducts business with consumers in the state of Georgia. For the Main Office location, this individual may be referred to as the Branch Manager and his/her business address must match the address listed as the “Main Address” on Form MU1. Georgia does not have a Qualifying Individual requirement.
Mortgage Loan Originator (MLO) Requirement: Mortgage broker/processor applicants must have a Georgia licensed MLO in place before the mortgage broker/processor application can be approved. Failure to employ and sponsor a Georgia licensed MLO or pending Georgia MLO applicant may result in the administrative withdrawal of the mortgage broker/processor application. The only exception is for a mortgage broker/processor that clearly indicates via its NMLS business activities and business plan that it will only act as a processor.
Warehouse Lines: Brokers using warehouse lines are considered lenders and must apply for a lender license, meet the $250,000 electronic surety bond, and other requirements noted for lender applicants.
Control Persons: Control means the direct or indirect possession of power to direct or cause the direction of the management and policies of a person. The following persons must be separately identified and included in the Direct Owners/Executive Officers and Indirect Owners sections of the NMLS Company Form MU1:
(1) Ultimate equitable owner:
a. Owns, directly or indirectly, a 10 percent or more interest in a corporation or any other form of business organization;
b. Owns, directly or indirectly, 10 percent or more of the voting shares of any corporation or any other form of business organization; or
c. Exerts control, directly or indirectly, over a corporation or any other form of business organization, regardless of whether such person owns or controls such interest through one or more natural persons or one or more proxies, powers of attorney, nominees, corporations, associations, limited liability companies, partnerships, trusts, joint stock companies, other entities or devices, or any combination thereof.
(2) Executive officer: The chief executive officer, president, chief financial officer, chief operating officer, each vice president with responsibility involving policy-making functions for a significant aspect of a person's business, secretary, treasurer, or any other person performing similar managerial or supervisory functions with respect to any organization, whether incorporated or unincorporated.
(3) Officers, directors, or other persons who direct the affairs of or control or establish policy for the applicant.
Each MU2/Control Person is required to authorize a FBI criminal background check (CBC) through NMLS. A criminal background increases the difficulty of making a favorable finding on an application. No individual that has been convicted of or entered a plea of guilty or nolo contendere to a felony (a) within the previous seven years or (b) at any time, if such felony is a disqualifying crime as defined by O.C.G.A. § 7-1-1007(7.1) is eligible to be an MU2/control person of a licensee unless the felony has been remedied pursuant to O.C.G.A. § 7-1-1004(i).
'Disqualifying crime' means any felony, as defined in Code Section 16-1-3, involving conversion, theft, money laundering, bribery, dishonesty, false statements or omissions, perjury, extortion, breach of trust, forgery, counterfeiting, embezzlement, insider trading, tax evasion, kickbacks, identity theft, cyber attacks, social engineering, fraud, including but not limited to check fraud, credit card fraud, mortgage fraud, medical fraud, corporate fraud, bank account fraud, payment (point of sale) fraud, currency fraud, bank fraud, and securities fraud, or a felony directly related to the financial services business.
Minimum Tangible Net Worth
Pursuant to O.C.G.A. § 7-1-1022(c)(1), each applicant and licensee shall maintain, as a continuing requirement of licensure, a minimum tangible net worth of $50,000.
Pre-Requisites for License/Registration Applications
In the case of applications for reinstatement of a previously revoked, withdrawn or denied license, all outstanding issues such as fines, fees, or documentary filings must be resolved before a favorable decision can be made on the application.
For an application to be considered complete, all requirements in the checklist that follows must be met PRIOR to submission of the application. The Department reserves the right to request additional information not included on the checklist that follows. Incomplete applications may be administratively withdrawn by the Department within 5 business days of submission if the application is incomplete. If the application is administratively withdrawn, a new license request will have to be submitted through the NMLS. Application fees are non-refundable.
If your application for licensure is approved, you will receive a copy of your license certificate from the Department via email. A copy of your license certificate can also be obtained from the Department’s website. Please note that the Department’s system is not connected to the NMLS, so there is at least a one business day delay in the approval e-mail from our system. Please check your spam folder if you do not receive the Department's approval e-mail within two business days.
Document Uploads Guidance
Documents that must be uploaded to the Document Uploads section of the Company Form (MU1) in NMLS are indicated in the checklist below. When uploading documents:
• Follow the guidance in Document Upload Descriptions and Examples.
• Only upload documents relevant to the company application.
• Only upload documents where there is a selectable document category. If inappropriate documents are uploaded that should not be, you will be contacted by your regulator and asked to remove them from NMLS.
• Do not upload the same company documents multiple times. Generally, unless the document is state-specific, if the document has already been uploaded for another state, a new upload is not required unless changes have been made.
• If a document previously uploaded has been revised, delete the old document and replace it with the new document (history of the old document will remain in NMLS).
• For state-specific documents (e.g., Verification of Lawful Presence, Background Authorization Form), be sure to indicate the applicable state.
Helpful Resources
• Company Form (MU1) Filing Instructions
• Document Upload Descriptions and Examples
• Individual Form (MU2) Filing Quick Guide
• Payment Options Quick Guide
• License Status Definitions Quick Guide
Other Georgia mortgage licenses
Sourced from the NMLS/CSBS state licensing record, last updated August 28, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.