Article Summary: This article will help anyone looking for information pertaining to a mortgage license in the state of Mississippi or anyone looking to become a mortgage broker in Mississippi.
The
Mississippi Department of Banking and Consumer Finance (DBCF), www.dbcf.state.ms.us supervises and regulates all aspects of the Mortgage Brokering business. Effective July 1, 2000, this includes any mortgage activity directly, indirectly, or by electronic processes, to solicit, place or negotiate mortgage loans within the state.
Applicants who wish to
become a Mortgage Broker in Mississippi pay a non-refundable license fee of $750 and they also need to provide a $25,000 Surety Bond in favor of the State of Mississippi. They need to provide either proof of having at least two years experience in the mortgage lending business or take an examination. When renewing a license, twelve hours of approved continuing education classes are required.
Applicants provide a set of fingerprints from any local law enforcement agency to be used with a full criminal history investigation by the FBI.
The
Mississippi Association of Mortgage Brokers (MAMB), www.msamb.org, is an affiliate of the National Association of Mortgage Brokers (NAMB), www.namb.org. The NAMB has established a communications network to assist those wanting to
acquire a Mortgage Broker License in Mississippi, and for existing Mortgage Brokers in the state.
We also offer information and resources for Mississippi Commercial Mortgage