Step 1: Complete pre-license education and exam

Florida mortgage brokers are required to complete a 20-hour pre-licensure course approved by the NMLS.

The course must include two hours of Florida-specific content as well as assignments required by the Office of Financial Regulation.

After you have completed the educational courses, you will need to pass the NMLS Mortgage licensing exam.

There is a $100 fee to take the exam.

Step 2: Get a mortgage broker surety bond

The Florida Office of Financial Regulation requires mortgage brokers to post a Florida surety bond before receiving a license. The bonds help ensure that brokers adhere to all regulations and provide financial protection to the state and consumers in the event they are damaged by the broker.

The required amount for a Florida mortgage broker bond is $10,000. You only need to pay a small portion of the bond amount as a premium. This is normally between 1% and 5%. Before the surety company issues the bond, they will evaluate your industry experience, credit history, and financial standing to determine your premium.

Step 3: Become a licensed mortgage loan originator

To get a mortgage broker license, your business must have at least one person with a mortgage loan originator license. This person will have to complete a separate application process to get the Mortgage Loan Originator (MLO) license. The application process is also handled by the NMLS.

Step 4: Submit license application

After you’ve met all the requirements, you can submit your mortgage broker license application through the NMLS website. When completing the form you will need to provide the following information:

  • Personal information about your principal loan originator
  • Form MU2 for each control person in your business
  • FBI and state criminal history background check
  • Credit report

You can upload these documents online using the NMLS web portal. Your application will also need to include the following fees:

  • $425 application fee
  • $100 NMLS initial processing fee
  • $15 credit report fee per control person
  • $38.75 FBI criminal background check fee

Florida mortgage broker license frequently asked questions

How do you renew a Florida mortgage broker license?

Florida mortgage broker licenses expire annually on December 31. To renew your license you will need to complete the Office of Financial Regulation’s renewal requirements which include continuing education and submitting another credit report and background check.

There is a $375 renewal fee to renew your license.

If you fail to renew your license by the expiration date, it will expire and you will need to pay a $250 reinstatement fee.

How much does a Florida mortgage broker license cost?

Mortgage brokers must pay $578.75 in fees to get their license. There is also the annual license renewal fee.

Get bonded with EZ Surety bonds

These are the steps to becoming a licensed mortgage broker in Florida. When you’re ready to start the licensing process, EZ Surety can offer you a free online quote for your Florida mortgage broker bond. Apply online today or get in touch today to learn more.