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Mortgage licensing / West Virginia

West Virginia Mortgage Lender License

company licence · NMLS WVLENDER_C · DFI

Who is required to have this license? Any company that originates, funds, makes, accepts, purchases or services mortgages for personal, family or household use that are secured by a mortgage, deed of trust or other equivalent consensual security interest on a dwelling as defined in Section 103(v) of the Truth in Lending Act or residential real estate upon which is constructed or intended to be constructed a dwelling. Who does not need this license? • Federally insured depository institutions • Regulated consumer lender licensees • Insurance companies • Any agency or instrumentality of West Virginia, federal, county or municipal government • Nonprofit community development organizations making mortgage loans to promote home ownership or improvements for the disadvantaged which loans are subject to federal, state, county or municipal government supervision and oversight • Habitat for Humanity International, Inc., and its affiliates providing low-income housing within West Virginia

Requirements (15)

  1. Step 1

    If the applicant is (1) a wholly owned subsidiary, direct or indirect, of a company supervised and regulated by the Securities and Exchange Commission whose stock is publicly traded on a registered exchange within the U.S. or (2) a wholly owned subsidiary, direct or indirect, of an entity subject to supervision and regulation by a U.S. federal banking regulator, the credit and background checks are not required. MU2 individuals are considered key individuals unless the company has provided a written explanation to the West Virginia Division of Financial Institutions (WVDFI) to the contrary. Control and Key Individuals outside the U.S. must submit comprehensive background information obtained from a third-party vendor specializing in international background reports. Reports must be translated to English and denominated in U.S. dollars, including comprehensive criminal and credit information.

  2. Step 2

    Each branch location planning to conduct business under this license authority must be separately authorized and file Form MU3 in NMLS. Every location must have a licensed mortgage loan originator (MLO). If you plan to employ individuals who currently hold a West Virginia MLO license or believe a statutory exception exists, contact licensing staff to discuss prior to submitting the license request. Each individual originating mortgages must be separately authorized and file Form MU4 in NMLS. After the MU4 is submitted, the company must submit a sponsorship request before the license will be approved. See quick guide “Create a Company Sponsorship” NMLS Quick Guides for assistance. A manager must be appointed for all locations where the licensee conducts business with consumers. This individual and their business address must match the address listed as the “Main Address” on Form MU1.

  3. Step 3

    The Resident/Registered Agent section of Form MU1 must be completed with the information on record with the West Virginia Secretary of State. West Virginia Mortgage Lenders are prohibited from using trade names, fictitious names, or dba names unless such name has been specifically approved by the West Virginia Secretary of State and the WVDFI.

    Submitted via: NMLS

  4. Step 4

    Jurisdiction-specific requirements, as identified on the checklist below, must be received with this checklist within 5 business days of the electronic submission of your application through the NMLS.

  5. Step 5

    WV Secretary of State Documentation: A certified copy of: • The Corporate Charter or Articles of Incorporation (corporation), or • The Articles of Organization and Operating Agreement (LLC), or • The Partnership Agreement (partnership of any form)

    Submitted via: NMLS

  6. Step 6

    WV Secretary of State - Certificate of Authorization/Certificate of Good Standing: Copy issued by the West Virginia Secretary of State and dated not more than 60 days prior to the filing of an application in NMLS.

    Submitted via: NMLS

  7. Step 7

    WV Secretary of State - Trade Name Registration: Provide a certificate for each dba, fictitious, or trade name to be used by the applicant.

    Submitted via: NMLS

  8. Step 8

    WV Department of Revenue (Tax Department) - Business Registration: All companies registering to conduct business in West Virginia must complete initial required filings before submitting an application to the WVDFI. The registration may be completed online at www.business4wv.com or by contacting the WV Tax Department at (304) 558-3333.

    Submitted via: NMLS

  9. Step 9

    Financial Statements - Audited: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Audited Financial Statements must be submitted through the Filing Tab in NMLS prior to the submission of the license request. For additional help, see the Financial Statement Information Page on the NMLS website. Provide an audited financial statement prepared in accordance with Generally Accepted Accounting Principles for the previous two year-ends. A tangible net worth of $250,000 is required for licensure.

    Submitted via: NMLS - Financial Statements Section

  10. Step 10

    Financial Statements - Interim: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Interim Financial Statements dated within 90 days preceding the application must be submitted through the Filing Tab in NMLS with the license request. For additional help, see the Financial Statement Information Page on the NMLS website. The interim financial statement must be prepared in accordance with Generally Accepted Accounting Principles and reflect a tangible net worth of $250,000.

    Submitted via: NMLS - Financial Statement Section

  11. Step 11

    The WVDFI requires Electronic Surety Bonds in NMLS as follows: • $100,000 if principal has annual mortgage loan originations of up to $3 million • $150,000 if principal has annual mortgage loan originations greater than $3 million up to $10 million • $250,000 if principal has annual mortgage loan originations greater than $10 million • $200,000 if principal acts as a servicer of mortgage loans and has annual mortgage loan originations less than $10 million • $250,000 if principal services mortgage loans and has annual mortgage loan originations greater than $10 million

  12. Step 12

    Contact Individuals - Examination and Compliance: Provide the name, title, address, telephone number, and email address for each individual.

    Submitted via: NMLS

  13. Step 13

    MLO License Application(s): If an MLO is not required, submit an email to WVDFI licensing staff stating the reason for such determination. Company license will not be approved until an associated MLO is in an approvable status. All temporary authority MLO applicants must also have a fully approved and licensed employment location to operate under temporary authority. A pending application does not meet the threshold.

    Submitted via: NMLS

  14. Step 14

    Certificate of Compliance by Executive Officer (must be signed and uploaded to NMLS): I certify that as long as this entity maintains a license in West Virginia, it will comply with all applicable requirements in the state, including federal and state mortgage laws, consumer protection laws, and legislative rules. I further certify that I understand and confirm the following: That the applicant will be subject to the provisions set forth in the West Virginia Code §31-17-1 et seq; That the applicant is subject to the provisions set forth in the West Virginia Consumer Credit and Protection Act, Chapter 46A of the West Virginia Code, which include but are not limited to, maximum late fees on loans, prepayment penalties and methods of curing default; That total points and fees permitted on mortgage contracts secured by real estate located in West Virginia are limited to six points including the yield spread and that up front points are limited to five; That the applicant will comply with the provisions set forth in West Virginia Code §31-17A-9a when permitting employees to work from alternate locations; including but not limited to, data security and privacy safeguards, appropriate risk-based monitoring, employee training, and written policies, procedures, and oversight; and That other provisions of West Virginia State law may be applicable to mortgage activities in West Virginia. By: ______________________________________ Title: ____________________________________ NMLS ID: ______________________ Applicant Name: ____________________________

    Submitted via: NMLS

  15. Step 15

    The WVDFI will review all submissions and communicate with you through NMLS. To review your status in NMLS, click the Tasks tab and click Work List. Do not email the agency for status updates.

General information

Pre-requisites for license applications? • Tangible Net Worth $250,000 • Bond amount - Ranges from $100,000 to $250,000 • Criminal background check • Credit check • Experience - Management must clearly demonstrate experience that meets a minimum of two years of full management and operation (including the compliance function) of a verifiable mortgage lending or brokering entity. • Testing • Pre-license and Continuing education by sponsored Mortgage Loan Originators

Other West Virginia mortgage licenses

Sourced from the NMLS/CSBS state licensing record, last updated June 10, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.

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