Mortgage licensing / Hawaii

Hawaii Mortgage Loan Originator Company License

company licence · NMLS HIORIGINATOR_C · DFI

Requirements (9)

1. Step 1

   For Mortgage Loan Originator Companies with headquarters out of state: Hawaii requires that companies have and maintain a principal place of business in this State. For those companies that maintain their corporate headquarters out of State, the company will have already filed a NMLS Company (MU1) Form for their headquarters, but must add Hawaii as a "checked jurisdiction." Because NMLS can only accommodate one Company (MU1) Form per company, a NMLS Branch Form should be filed for the "Hawaii Principal Place of Business." Out of State companies must also designate a "Qualifying Individual” in the NMLS Company (MU1) Form, who must be licensed as a Hawaii mortgage loan originator and who may be the same individual as the required "Hawaii Principal Place of Business" branch manager, who must also be licensed as a Hawaii mortgage loan originator. Please also note that Hawaii law requires the appointment of a registered agent with an address in Hawaii.

   Submitted via: NMLS

2. Step 2

   Other Trade Name: DBA’s should be listed under Other Trade Names on the NMLS Company (MU1) Form. Upload a file-stamped copy of the Certificate of Registration of Trade Name from the Business Registration Division of the State of Hawaii Department of Commerce and Consumer Affairs. Upload this document in NMLS under the Document Type “Trade Name/Assumed Name Registration Certificates” in the Document Uploads section of the Company (MU1) Form. The box in the “forced” column should be checked if either the Commissioner of Financial Institutions or the Business Registration Division of the Hawaii Department of Commerce and Consumer Affairs will not allow the company to use its legal name for any reason. Hawaii does not limit the number of trade names a company can register and use.

   Submitted via: NMLS

3. Step 3

   Resident/Registered Agent: The Resident/Registered Agent section of the NMLS Company Form should be completed with the information currently on record with the Business Registration Division of the State of Hawaii Department of Commerce and Consumer Affairs.

   Submitted via: NMLS

4. Step 4

   Qualifying Individual: Each company is required to designate a qualifying individual in charge of the mortgage loan origination activities or in charge of the oversight of the company’s licensed mortgage loan originators. The qualifying individual is required to be a Hawaii licensed mortgage loan originator. The qualifying individual may also be the designated branch manager of a branch.

   Submitted via: NMLS

5. Step 5

   Credit Report: Individuals in a position of control are required to authorize a credit report through NMLS. 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.

   Submitted via: NMLS

6. Step 6

   MU2 Individual FBI Criminal Background Check Requirements: The followingindividuals, as specified below, on the Company Form (MU1) are required to authorize a FBI criminal background check (CBC) through NMLS. *Effective March 1, 2022, Hawaii will no longer require a State criminal background check. Direct Owners • Direct Owners include any person that owns, beneficially owns, has the right to vote, or has the power to sell or direct the sale of 10% or more of a class of voting security of the applicant or licensee. Executive Officers • All executive officers, directors, general partners, and managing members. Indirect Owners • Indirect Owners include any person that owns, beneficially owns, has the right to vote, or has the power to sell or direct the sale of 10% or more of a class of voting security of the applicant or licensee. • In the case of an owner that is a corporation, each shareholder that beneficially owns, has the right to vote, or has the power to sell or direct the sale of 25% or more of a class of voting security of that corporation. • In the case of an owner that is a partnership, all general partners and those limited and special partners that have the right to receive upon dissolution, or have contributed a minimum of 25% or more of the partnership’s capital. • In the case of an owner that is a trust, each trustee of the trust. In the case of an owner that is a Limited Liability Company (“LLC”), (i) those members that have the right to receive upon dissolution, or have contributed, 25% or more of the LLC’s capital, and (ii) if managed by elected or appointed managers, all elected or appointed managers.· Continue up the chain of ownership listing all 25% or more owners at each level of ownership. After authorizing a FBI criminal background check through the submission of the Company Form (MU1) and Individual Form (MU2), you must schedule an appointment to be fingerprinted if new prints are required. See the Quick Guides - Company section of the NMLS Resource Center for more information. 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.

   Submitted via: NMLS

7. Step 7

   Certificate of Authority/Good Standing Certificate: For Companies formed and doing business only in Hawaii, upload a Certificate of Good Standing from the Business Registration Division of the State of Hawaii Department of Commerce and Consumer Affairs dated not more than 60 days prior to the filing of an application through NMLS. For Companies formed outside of Hawaii, upload a Certificate of Good Standing issued by the state in which the company is formed, and a Certificate of Good Standing issued by the Business Registration Division of the State of Hawaii Department of Commerce and Consumer Affairs, dated not more than 60 days prior to the filing of an application through NMLS. Upload this document in NMLS under the Document Type “Certificate of Authority/Good Standing Certificate” in the Document Uploads section of the Company (MU1) Form.

   Submitted via: NMLS

8. Step 8

   Management Chart: Upload an organizational chart showing the applicant’s divisions, officers, and managers. Upload this document in NMLS under the Document Type “Management Chart” in the Document Uploads section of the Company (MU1) Form.

   Submitted via: NMLS

9. Step 9

   Organizational Chart/Description: Upload an organizational chart if applicant is owned by another entity or entities or person, or has subsidiaries or affiliated entities. Upload this document in NMLS under the Document Type “Organizational Chart/Description” in the Document Uploads section of the Company (MU1) Form.

   Submitted via: NMLS

General information

Other Hawaii mortgage licenses

• Escrow Depository Branch License
• Escrow Depository License
• Mortgage Loan Originator License
• Mortgage Servicer License
• Sole Proprietor Mortgage Loan Originator License
• All 6 Hawaii licenses

Sourced from the NMLS/CSBS state licensing record, last updated May 17, 2023. Requirements change — confirm against the state agency before filing. Not legal advice.