MLO License Transfer/Sponsorship/Application

SECTION A: Transfer License to GMCC
MLO can only be sponsored by one company per State. *CA DRE BROKER licensee can be sponsored by more than one company in CA.
End all other company sponsorships that conflict with GMCC.

View list of GMCC approved branch location and licenses (updated regularly):


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SECTION B: Request Sponsorship from GMCC
MLO must email Vivian to request sponsorship of existing or new licenses.

Outstanding license item notifications are sent by NMLS system via email. They can also be viewed via NMLS Composite View. All outstanding license items need to be reviewed and addressed. License items state what needs to be done to clear. MLO can request help by contacting the Recruiting Team. To streamline assistance from the Recruiting Team, print PDF and email the outstanding license items from the Composite View to Recruiting Team

***GMCC and staff will NOT log into MLO NMLS account, submit/edit filings, answer disclosure questions, complete forms, or issue any statements on behalf of MLO***

MLO must have accepted sponsorship AND approved license to originate loans. To inquire about status, email/call State Regulator:


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SECTION C: New State License Applications
PE/CE Classes:
Select state from the map:
Scroll all the way to the bottom to Mortgage Loan Originator License and select New Application. Follow all instructions on the checklist and submit MU4 form to request license.

After requesting new license via MU4, follow Sponsorship Instructions in SECTION B.

Review State Pay Types & Distance Requirements BEFORE requesting new license. NMLS and state fees are usually non-refundable.

Some states (red dot) require MLO to reside within a certain distance from a licensed branch location. Note that not all GMCC branch locations are licensed in ALL states that company is approved in. Refer to branch list in SECTION A to see which state licenses are approved for which individual branch.

W2 states (highlighted) have a different compensation structure than 1099 States. If not already on a W2 pay structure, email James to see if a W2 state license is feasible before requesting license. *W2 pay structure requires ALL states to be paid W2.

***CONTACT Vivian before applying for South Carolina MLO license

State Pay Types and Distance Requirements are subject to change at any time in accordance with compliance.


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Florida Fingerprinting

SECTION D: MLO Surety Bond
If applicable, submit completed Surety Bond forms to GMCC’s preferred carrier: Arthur Gallagher
Denise Smith

GMCC will not pay for individual MLO surety bonds.
MLO does not need to use GMCC’s preferred carrier.


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SECTION E: Request LO Contract
Email Vivian to generate LO contract/changes and advise desired LO comp.

LO comp is the minimum pricing that MLO must lock and must be consistent across all files. If locked pricing is less than LO comp, borrower will need to be charged points to cover the difference. If locked pricing is more than LO comp, the excess can be given to borrower as lender credit (up to certain limitations).

LO comp can be changed every 3 months effective new loan applications dated on the 1st of the 4th month.

OPTIONAL to set a minimum or maximum comp on top of base LO comp (does not apply to brokered loans).

Gross minimum and maximum comp only applies if “base” gross commission (eg: 1% x loan amount) falls outside of the minimum and maximum.

For example if the loan amount is $500k and comp is 1%, then gross commission is $5000. Let’s say minimum is $7000. That is more than gross commission $5000. GMCC needs to pay LO $7000 and LO will need to lock pricing with enough excess to cover the $2000 difference (lock pricing minimum 101.4)

Vice versa with maximum comp of… let’s say $4000. That means even if gross commission is OVER $4000, GMCC will only pay LO $4000. There will be $1000 that isn’t paid and that can go back to cover any pricing shortage or give to borrower as lender credit. At minimum must lock pricing 100.8.

All brokered loans subject to $695 processing fee.

Net broker commission may not exceed net correspondent commission (as if the loan was closed through correspondent channel).