The Office of Consumer Credit Regulation administers laws relating to non-bank mortgage lending, consumer credit and collection in the state of Maine.

Following information can be helpful in applying for a about Mortgage Broker license in Maine:

• All Credit Service Organizations must be registered in order to operate their businesses in Maine. Unregistered CSOs cannot broker even one or two loans in Maine without being registered.
• Previous loan broker experience is not required in order to qualify for registration.
• Currently there is no requirement for continuing education of applicants and registrants. However, it is recommended that applicants and registrants check the Office of Consumer Credit Regulations (OCCR) website for regular updates. The website can be accessed at Consumer Credit Regulation Home Page.
• The following documents must be enclosed along with your completed and signed application:
  • A completed bond, in the format prescribed in the application package.
  • A sample copy of the signed written agreement describing services offered, guarantees or promises of refund, effective term of agreement, terms of payment, and the "Notice to Consumer".
  • A sample copy of the written disclosure which shows provision for proof of receipt by the consumer.
  • A resume of each principal officer, owner or partner.
  • A check for the application fee.
• If your application is complete and you have met the requirements to operate as a CSO in the state of Maine, your registration will typically be approved within three weeks following receipt by OCCR.
• Presently there are no net worth requirements for a CSO; however, to become registered a CSO must post a $10,000 surety bond and be prepared to demonstrate financial responsibility.
• The registration period is for the duration of one year, i.e. from February 1 to January 31.
• Completed CSO renewal packets should be received by the Maine OCCR no later than the end of the second week in January. There are no penalties for submitting the renewal application after 31st January. But in this case, the registration will expire and applicant will have to start the application process all over again and apply for a new registration.