The Department of Banking, Insurance,
Securities & Health Care Administration (BISHCA), regulates all aspects of
becoming a Mortgage Broker in Vermont. Offices are located in Montpelier.
All Vermont mortgage licenses are handled through the National Mortgage Licensing System.
Prelicensing requirements include approved courses that are 20 or more hours and contain 3
hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus
12 or more hours of electives. This may be in addition to Vermont-required content. Continuing Education
Requirements include at least eight hours of NMLS approved instruction.
The licensing fee for NMLS for Loan
Originators is $169, and the fee for Mortgage
Broker is $1,100. Click on the link in the preceding sentence for more details
about each license.
Applicants for any mortgage licenses in Vermont mush certify that they are current on
both all Vermont state taxes and child support obligations. Those desiring to become a
Mortgage Broker also must provide a Surety Bond
in the amount of $25,000.00.
Recent Financial Statements, along with a thorough Biographical Report on the business and
personal past of an applicant are also included with the application.
Vermont Mortgage Forms
Vermont Reciprocity States
(as of 2/23/2010)
Vermont Approved Mortgage Schools Prelicensing and Postlicensing
Abacus Mortgage Training
|Last Update: 2/22/2010
This list may not include all approved schools. Please visit the BISHCA website for the latest list of approved