Mortgage licensing / New Jersey

New Jersey Correspondent Residential Mortgage Lender License

company licence · NMLS NJCORRRESLENDER_C · DOBI

Requirements (30)

1. Step 1

   Other Trade Name: 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 New Jersey Department of Banking and Insurance does not allow more than three (3) other trade names. If operating under an “Other Trade Name”, upload a copy of the registration of alternate name as filed with and approved by the New Jersey Division of Revenue for each d/b/a or alternate name to be used in New Jersey regarding ability to do business under that trade name. a copy of the registration of alternate name as filed with and approved by the New Jersey Division of Revenue for each d/b/a or alternate name to be used in New Jersey. If the company is operating as a Sole Proprietor, upload a filed Trade Name Certificate from the municipality(ies) or county(ies) where the applicant intends to operate. This document should be named NJCRML Trade Name – Assumed Name. NOTE: each d/b/a name must also be included on the company’s surety bond.

   Submitted via: NMLS Upload in NMLS: under the Document Type Trade Name/Assumed Name Registration Certificates in the Document Uploads section of the Company Form (MU1).

2. Step 2

   Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1) and must match the information currently on record with the New Jersey Division of Revenue and Enterprise Services.

   Submitted via: NMLS

3. Step 3

   Qualifying Individual: At least one individual who is an officer, director, partner, member, owner, or principal must obtain a Qualified Individual license. The individual must have a designation as an officer, director, partner, member, owner or other principal and list New Jersey as a jurisdiction. This individual must be listed in the Qualifying Individual section of Company Form (MU1).

   Submitted via: NMLS

4. Step 4

   Financial Statements: Upload an unqualified, audited financial statement prepared by a Certified Public Accountant or Public Accountant in good standing in accordance with Generally Accepted Accounting Principles dated within 90 days of your fiscal year end. Financial statements should include a balance sheet, income statement, and statement of cash flows and all relevant notes thereto. The financial statement must illustrate a company’s tangible net worth of $150,000. Note: Financial statements are uploaded separately under the Filing tab and Financial Statement submenu link. See the Financial Statements Quick Guide for instructions.

   Submitted via: NMLS

5. Step 5

   Certificate of Authority/Good Standing Certificate: Upload a State-issued and approved document (typically by the Secretary of State’s office), dated not more than 60 days prior to the filing of the application through NMLS that demonstrates authorization to do business in the applicant’s state of formation and in NJ. This document should be named [[State prefix] Certificate of Authority OR [State prefix] Certificate of Good Standing].

   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).

6. Step 6

   Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the requested applicable documentation detailed below. Original formation documents and all subsequent amendments, thereto including a list of any name changes. Sole Proprietor • No applicable documentation General Partnership: • Partnership Agreement (including all amendments). Limited Liability Partnership: • Certificate of Limited Liability Partnership; and • Partnership Agreement (including all amendments). Limited Partnership: • Certificate of Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Limited Partnership: • Certificate of Limited Liability Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Company (“LLC”): • Articles of Organization (including all amendments); • Operating Agreement (including all amendments); • IRS Form 2553 or IRS Form 8832 if S-Corp treatment elected; and • LLC resolution if authority not in operating agreement. Corporation: • Articles of Incorporation (including all amendments); • By-laws (including all amendments), if applicable; • Shareholder Agreement (including all amendments), if applicable; • IRS Form 2553 if S-Corp treatment elected; and • Corporate resolution if authority to complete application not in By-Laws or Shareholder Agreement, as amended, as applicable.

   Submitted via: Upload in NMLS: under the Document Type Formation Document in the Document Uploads section of the Company Form (MU1). This document should be named Formation Documentation [Date of Creation (MM-DD-YYYY)].

7. Step 7

   Organizational Chart/Description: Submit a chart showing (or a description which includes) the percentage of ownership of: • Direct Owners (total direct ownership percentage must equate to 100%) • Indirect Owners • Subsidiaries and Affiliates of the applicant/licensee This document should be named [Company Legal Name] Organizational Chart – Description. Note: If the existing uploaded Organizational Chart/Description already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

   Submitted via: Upload in NMLS: under the Document Type Organizational Chart/Description in the Document Uploads section of the Company Form (MU1).

8. Step 8

   Surety Bond: Submit company bond in the amount of $150,000 furnished by a surety company authorized to conduct business in New Jersey. The name of the principal insured on the bond must match exactly the full legal name of applicant, including any Other Trade Names. Click here to access the form. This document should be named [License Type] Surety Bond. Surety Bond Requirements Table NJ Loan Volume Bond Amount $0 to $50,000,000 $150,000 $50,000,001 to $75,000,000 $200,000 $75,000,001 to $100,000,000 $250,000 $100,000,000 and over $300,000

   Submitted via: Upload in NMLS: under the Document Type Surety Bond in the Document Uploads section of the Company Form (MU1). AND Mail to New Jersey Department of Banking and Insurance

9. Step 9

   Certification Of Office Suitability: Upload a certification of office suitability. The forms may be found at: Offices Located In New Jersey or Offices Located Outside of New Jersey. This document should be named NJ Certificate of Office Suitability

   Submitted via: Upload in NMLS: under the Document Type Additional Requirements in the Document Uploads section of the Company Form (MU1).

10. Step 10

    State Criminal History Record Check: The completion of a NJ State Police criminal history record check with IDENTOGO IS REQIRED. You may schedule an appointment to have an electronic fingerprint scan at uenroll.identogo.com using Service Code 2F1G71 and Contributor Case Number BKRMLA. If electronic fingerprinting through Identogo is not available in your area, please email blicbc@dobi.nj.gov for fingerprint cards. PLEASE NOTE this is in addition to the FBI Criminal Background Check authorized through the NMLS. For information on the NJ LiveScan fingerprinting process, go to: https://www.nj.gov/dobi/banklicensing/rmla/rmlaprincipalsfingerprint.html

    Submitted via: Electronically via Identogo OR Mail to Identogo

11. Step 11

    Submission of Company Form (MU1): Complete and submit the Company Form (MU1) in NMLS. This form serves as the application for the license/registration through NMLS.

    Submitted via: NMLS

12. Step 12

    Primary Contact Employees: The following individuals must be entered into the Contact Employees section of the Company Form (MU1). • Primary Company Contact. • Primary Consumer Complaint Contact.

    Submitted via: NMLS

13. Step 13

    Non-Primary Contact Employees: New Jersey Department of Banking and Insurancerequires that an individual(s) be identified as a Non-Primary Contact for the following areas. These contacts must be listed in the Contact Employees section of the Company Form (MU1). • Licensing • Exam Delivery • Consumer Complaint (Regulator) • Legal • Pre-Exam Contact

    Submitted via: NMLS

14. Step 14

    Bank Account: Bank account information is not required. The Bank Account section of the Company Form (MU1) can be left blank.

15. Step 15

    Disclosure Questions: Provide a complete and detailed explanation and document upload for each “Yes” response to Disclosure Questions made by the company or related control persons (MU2). Upload a copy of any applicable orders or supporting documents in NMLS. Additional information may be required outside NMLS after review of explanation and uploaded information in NMLS. See the Company Disclosure Explanations Quick Guide for instructions.

    Submitted via: Upload in NMLS in the Disclosure Explanations section of the Company Form (MU1) or Individual Form (MU2).

16. Step 16

    Control Person (MU2) Attestation: Complete the Individual Form (MU2) in NMLS. This form must be attested to by the applicable control person before it is able to be submitted along with the Company Form (MU1).

    Submitted via: NMLS

17. Step 17

    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. This authorization is made when the Individual Form (MU2) is submitted as part of the Company Form (MU1).

    Submitted via: NMLS

18. Step 18

    MU2 Individual FBI Criminal Background Check Requirements: The followingIndividuals, as specified below, on the Company Form (MU1) are required to authorize an FBI criminal background check (CBC) through NMLS. Direct Owners • Natural persons owning 10% or greater in the Licensee. Executive Officers • Each new officer, director, partner, member, or other principal Indirect Owners • Natural persons holding 10% or greater diluted, indirect ownership interest in the Licensee. Qualifying Individuals • Complete Criminal Background Checks for Qualifying Individuals according to the Qualified Individual License checklist. 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 if new prints are required. See the Criminal Background Check 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

19. Step 19

    AML/BSA Policy: Upload the most recent version of Anti-Money Laundering (AML) / Bank Secrecy Act (BSA) Policy and the most recent Independent Review of the AML/BSA Program. AML/BSA Policy This document should be named AML/BSA Policy [approval date mm-dd-yyyy]. Independent Review of AML/BSA Program This document should be named AML/BSA Policy Independent Review [review date mm-dd-yyyy].

    Submitted via: Upload in NMLS: under the Document Type AML/BSA Policy in the Document Uploads section of the Company Form (MU1).

20. Step 20

    Business Plan: Upload a business plan outlining the following information: • Marketing strategies • Products • Target markets • Fee schedule • Operating structure the applicant intends to employ. This document should be named [Company Legal Name] Business Plan. Note: If the existing uploaded business plan already includes the above information, an additional document does not need to be uploaded. 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.

    Submitted via: Upload in NMLS: under the Document Type Business Plan in the Document Uploads section of the Company Form (MU1).

21. Step 21

    Location of Records Agreement: Upload a Location of Records Agreement. The agreement will be countersigned by your reviewer. The agreement may be found here: Location of Books and Records. The document should be names NJ Location of Books and Records. The location of the records on the form should match the Books and Records Location on the MU1.

    Submitted via: Upload in NMLS: under the Document Type Additional Requirements in the Document Uploads section of the Company Form (MU1).

22. Step 22

    Management Chart: Submit a Management chart displaying the applicant’s directors, officers, and managers (individual name and title). Must also identify compliance reporting and internal audit structure. The chart should reflect the company’s Senior Management. This document should be named [Company Legal Name] Management Chart. Note: 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.

    Submitted via: Upload in NMLS: under the Document Type Management Chart in the Document Uploads section of the Company Form (MU1).

23. Step 23

    Credit Report Explanations: Submit a line by line, detailed letter of explanation of all derogatory credit accounts along with proof of payoffs, payment arrangements and evidence of payments made, or evidence of any formal dispute filed (documents must be dated). Accounts to address include, but are not limited to: collections items, charge offs, accounts currently past due, accounts with serious delinquencies in the last 3 years, repossessions, loan modifications, etc. Note: Items regarding bankruptcy, foreclosure actions, outstanding judgments or liens, or delinquent child support payments should be addressed in the Disclosure Explanations section of your Individual Form (MU2). This document should be named Credit Report Explanations – Sub Name – Document Creation Date.

    Submitted via: Upload in NMLS: under the Document Type Credit Report Explanations in the Document Uploads section of the Individual Form (MU2).

24. Step 24

    Legal Name/Status Documentation: Upload legal documentation of legal name or legal status. This may be certified copies of divorce decree, marriage certificate, copy of driver’s license, passports, etc. This document should be named [Document Name] (Ex. Driver’s License, Marriage Certificate, etc.).

    Submitted via: Upload in NMLS: under the Document Type Legal Name/Status Documentation in the Document Uploads section of the Individual Form (MU2).

25. Step 25

    Memorandum of Tax Certification: Provide a certified memorandum indicating all tax obligations to the State have been paid or that a payment plan (if applicable) is in place. Click here to access the form. This document should be named [State Abbreviation] – Memorandum of Tax Certification.

    Submitted via: Upload in NMLS: under the Document Type Memorandum of Tax Certification in the Document Uploads section of the Individual Form (MU2).

26. Step 26

    State Background Check Authorization: The followingindividuals, as specified below, on the Company Form (MU1) are required to upload a copy of the payment receipt issued by Identogo, the Live Scan fingerprint vendor, at the time of completion of the fingerprinting. Find the information on the State Criminal Background Check below. Note: This is separate from the NMLS federal background check for the submission of the Individual Form (MU4). Direct Owners • Natural persons owning 10% or greater in the Licensee. Executive Officers • Each new officer, director, partner, member, or other principal Indirect Owners • Natural persons holding 10% or greater diluted, indirect ownership interest in the Licensee. Qualifying Individuals • Complete Criminal Background Checks for Qualifying Individuals according to the Qualified Individual License checklist. This document should be named NJ – BC Authorization.

    Submitted via: Upload in NMLS: under the Document Type State Background Check Authorization in the Document Uploads section of the Individual Form (MU2).

27. Step 27

    Verification of Experience: Providea license specific resume with detailed job descriptions and/or duties performed evidencing experience in the industry the company is applying for a license. Detailed job descriptions and duties with all employers need to be incorporated into a resume to demonstrate experience related to the specific state license being applied for. This document should be named [Document Type] – License Name

    Submitted via: Upload in NMLS: under the Document Type Verification of Experience in the Document Uploads section of the Individual Form (MU2).

28. Step 28

    Company Staffing and Internal Policies: Upload document(s) including information on staffing and internal organizational policies and procedures. If submitting multiple policies, upload and name each policy separately. The document must include the following information: • Advertising / Marketing / Social Media • Business Continuity • Compliance Management Systems • Information Technology / Security / Disaster Recovery • Loan Origination Groups/Teams, if applicable. • Loan Originator Supervision • Mortgage Application and Origination: TRID / ATR-QM/ ECOA/ Adverse Actions, etc. • Quality Control - Internal/External Audit • Recordkeeping • SAFE Act • TILA • RESPA • Third-party Mortgage Loan Originator, Mortgage Loan Processor, and Mortgage Loan Underwriter Oversight, if applicable. • Underwriting This document should be named [Name of Policy]. NOTE: Policies and procedures uploaded are being verified for presence, but not being verified for compliance.

    Submitted via: Upload in NMLS: under the Document Type Company Staffing and Internal Policies in the Document Uploads section of the Company Form (MU1).

29. Step 29

    Document Samples: Upload copies of the following sample documents used in the regular course of business in connection with this license: • Broker Agreement, if acting in the capacity of a broker. • NJ Application disclosure. This document should be named [Name of Document Sample].

    Submitted via: Upload in NMLS: under the Document Type Document Samples in the Document Uploads section of the Company Form (MU1).

30. Step 30

    Warehouse Line of Credit Documentation: Submit the following documentation related to a Warehouse Line of Credit: • Letter from creditor(s) confirming: • Name of creditor • Amount of line of credit • Expiration date for line of credit, if any. OR • Letter of engagement with any creditor(s). This document should be named [License Type and Lender Name].

    Submitted via: Upload in NMLS: under the Document Type Warehouse Line of Credit Documentation in the Document Uploads section of the Company Form (MU1).

General information

Other New Jersey mortgage licenses

• Correspondent Residential Mortgage Lender License
• Federal Contract Student Loan Servicer License
• Federal Contract Student Loan Servicer License
• Mortgage Loan Originator License
• Mortgage Servicer License
• Mortgage Servicer License
• All 15 New Jersey licenses

Sourced from the NMLS/CSBS state licensing record, last updated October 12, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.