DID YOU KNOW?
The Michigan Department of Insurance and Financial Services recently published its annual schedule of licensing fees for all applicants, licensees, and registrants under the Mortgage Brokers, Lenders, and Servicers Licensing Act; Mortgage Loan Originator Licensing Act; and Secondary Mortgage Loan Act.
These fees are effective from January 1, 2021 to December 31, 2021.
Tennessee Announces 2020-2021 Annual Supervision Fees for Mortgage Licensees
The Tennessee Department of Financial Institutions announced its annual supervision fee for non-depository financial institutions for 2020-2021. For mortgage licensees, the fee is $1,000. Mortgage loan originators (MLOs) will continue to pay a licensing and renewal fee of $100 and a sponsorship fee of $100.
The fees went into effect on November 1, 2020.
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