New Jersey Mortgage License Requirements
Application Requirements to become licensed in New Jersey as a mortgage loan originator (MLO) or Qualified Individual (QI):
| Description | Requirement |
|---|---|
| Temporary Authority to Operate Eligible (MLO | Yes |
| Temporary Authority to Operate Eligible (QI) | No |
| Application Fee (MLO) | $150.00 |
| Application Fee (QI) | $500.00 |
| License Registration Fee (MLO & QI) | $0.00 |
| NMLS Processing Fee (MLO & QI) | $35.00 |
| Sponsorship Fee* (MLO) | $50.00 |
| Sponsorship Fee* (QI) | $250.00 |
| Credit Report Required (MLO & QI) | $15.00 |
| Criminal Background Check Required (MLO & QI) | $36.25 |
| Testing Required (MLO & QI) | Yes, passing score of 75% or higher |
| SAFE MLO Test Cost (MLO & QI) | $110.00 |
| Work Remote Allowed (MLO & QI) | No |
*Note: A sponsorship request must be submitted by your employer. NJ will review and accept or reject the sponsorship request.
New Jersey NMLS Pre-Licensing Education Requirements:
New state-licensed MLOs and Qualified Individuals are required to complete 20 hours of NMLS-approved education. This includes:
3 hours of federal law
3 hours of ethics
2 hours of non-traditional mortgage lending
8 hours of electives
4 hours of New Jersey state-specific education
New Jersey Continuing Education Requirements:
State-licensed MLOs and Qualified Individuals are required to complete 12 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:
3 hours of federal law
2 hours of ethics
2 hours of non-traditional mortgage lending
3 hours of electives
2 hours of New Jersey state-specific education
MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.
New Jersey Department of Banking and Insurance Contact Info:
Phone: 609-292-7272
Email: bliconline@dobi.nj.gov
Website: www.state.nj.us/dobi