||Below you will find information on the following
topics for Vermont: Mortgage Broker Licensing, Mortgage
Broker Training, Mortgage Broker License Requirements, Vermont
Mortgage Laws and Regulations, Mortgage Broker Schools, etc.
If you would like to find information about another state then
here and select the state.
Vermont Mortgage License and Education Information
|| The State of Vermont,
Department of Banking, Insurance, Securities & Health Care Administration
issues and regulates Mortgage Broker Licensing in the state of Vermont.
The following information is required to obtain a Mortgage Broker License in
- Submit a completed and signed application on the prescribed form along with
stipulated investigation and license fees and other required documents to
- The license year is from January 1 to December 31. On or before December
1 of each year, every licensee is required to pay to the commissioner a renewal
of license fee for the next succeeding calendar year, and at the same time
the licensee must also file with the commissioner a bond in the same amount
and of the same character as required by section 2203 of Title 8 Chapter 73
of Vermont Statues or as required by the commissioner under section 2207 of
the same title.
- A certified copy of the Articles of Organization or Certificate of Incorporation
must be enclosed with the application. If the applicant is a foreign corporation
or LLC, then the date of qualification to do business in Vermont must be provided.
- The applicant must attach a copy of the Certificate of Authority or a Certificate
of Good Standing issued by the Vermont Secretary of State dated no more than
six months prior to application date.
- Applicants are also required to include a copy of the Broker/Prospective
Borrower Agreement as required by Regulation B-96-1.
- Submit audited financial statements prepared in accordance with the Generally
Accepted Accounting Principles as of the close of the last fiscal year.
- Mortgage Brokers must maintain a surety bond in the amount of $10,000.
- Currently, there are no specific educational or experience requirements
to obtain a mortgage broker license.
- In advance of taking any fee or collecting any charges, or at the time the
prospective borrower submits a signed application, a written agreement in
a form approved by the commissioner must be prepared by the mortgage broker,
and must be signed by both the mortgage broker and the prospective borrower.
For more information, visit State
of Vermont, Banking Division - Department of Banking, Insurance, Securities
& Health Care Administration.
Application forms can be downloaded at Licenses
Application Procedures & Forms for Lenders, Mortgage Brokers & Finance
Additional information on Regulation B-96-1 on Mortgage Brokers can be found
Banking Division REGULATION B-96-1 Mortgage Brokers.
Major Cities Include: Burlington, Essex, Rutland, Colchester, South Burlington, Brattleboro, Hartford, Barre, Bennington, Essex Junction, Montpelier, Williston, Shelburne, Winooski, Middlebury, Lyndon, Newport, Randolph
This website has been prepared for informational purposes only.
Please make sure you read the site
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