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NMLS Dollar Facts
NMLS
16
Real Estate & Planning
Not Applicable
08/05/2012
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Cards

Term
Payment 10 days late
 Definition
$10
Term
Payment 15 days late
 Definition
$15
Term
10 days plus a $10 a day /no branch notice
 Definition
$100
Term
License Fee, fingerprint fee, NMLS
 Definition
$169
Term
Fee to open a branch
 Definition
$200
Term
Not pulling an ad when ordered to do so
 Definition
$500
Term
Using an unapproved location
 Definition
$500
Term
Fee to act as a Mortgage Lender plus $100 investigation fee
 Definition
$900
Term
Admin penalties for violations
 Definition
$2500
Term
Maximum CRMLA assessment
 Definition
$5,000
Term
Do Not Call violation
 Definition
$16,000
Term
Civil penalties for violators
 Definition
$25,000
Term
Mortgage broker surety bond
 Definition
$25,000
Term
Mortgage lender's surety bond
 Definition
$50,000
Term
Bond can be increased to this if licensee is not in compliance
 Definition
$100,000
Term
Tangible net worth of mortgage lender
 Definition
$250,000
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