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Article Summary : This article will help anyone looking for information pertaining to a mortgage license in the state of New Jersey or anyone looking to become a mortgage broker in New Jersey. The New Jersey Department of Banking and Insurance (DOBI), supervises and regulates all aspects of the Mortgage Broker License. Separate licenses are required for handling first mortgages and second mortgages. Out-of-state Mortgage Brokers must still be licensed in New Jersey in order to conduct business within the state. Applicants who desire to become a Mortgage Broker in New Jersey pay a $300 non-refundable application fee plus $1,400 for the license. They also provide a Surety Bond in the amount of $100,000. Audited Financial Statements must reflect a tangible net worth of $50,000. Although no continuing...