Article Summary: This article will help anyone looking for information pertaining to a mortgage license in the state of Hawaii or anyone looking to become a mortgage broker in Hawaii.
In Hawaii, the
Department of Commerce & Consumer Affairs (DCCA), www.state.hi.us/dcca, through the Professional and Vocational Licensing Division, ensures regulatory compliance of the laws and regulations pertaining to
becoming a Mortgage Broker in Hawaii.
Applicants who desire to become a Mortgage Broker in Hawaii must be 18 years of age or older, pay the required fees, and post a continuous Surety Bond of $15,000 issued by a surety company licensed to do business in Hawaii. Applicants need to exhibit experience, financial integrity and competency with financial transactions. This includes two years of experience with financial transactions dealing with first mortgages or subordinate mortgage financing, or equivalent experience.
All Mortgage Brokers must maintain a principal place of business within the state. They are required to comply with all provisions of the Real Estate Settlement Procedures Act, the Truth in Lending Act, and the Equal Credit Opportunity Act.
The
Hawaii Association of Mortgage Brokers (HAMB), an affiliate of the National Association of Mortgage Brokers (NAMB), www.namb.org, provides online educational opportunities and a place to keep in touch with the pulse of the industry for those who want to obtain
Mortgage Broker License in Hawaii.
We also offer information and resources for Hawaii Commercial Mortgage