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Article Summary : This article will help anyone looking for information pertaining to a mortgage license in the state of Illinois or anyone looking to become a mortgage broker in Illinois. In Illinois, the Bureau of Residential Finance , under the Division of Banks and Real Estate, handles all aspects of licensing and supervising under the Residential Mortgage License Act. Applicants who desire to become a Mortgage Broker in Illinois pay a non-refundable Investigation Fee of $1,500 plus a non-refundable License Fee of $1,200. In addition, applicants provide a Surety Bond in the amount of at least $20,000. In Illinois Mortgage Brokers are exempt from filing an annual renewal report. The required financial statements provided with the application must reflect a net worth of $35,000 in order to...