When are applicants and licensees required to pay the annual assessments for certified public accountant (CPA) and Attorney General (AG) costs incurred by the Division?
New mortgage broker, mortgage banker, escrow agency and independent licensee (loan modification consultant, foreclosure consultant and covered service provider) applicants, both principal offices and additional branches, are required to pay the annual AG and CPA assessments to NMLS prior to issuance of a license and following completion of the background investigation. New mortgage agent and associated licensee (loan modification consultant, foreclosure consultant and covered service provider) applicants are required to pay the annual AG assessment to NMLS prior to issuance of a license and following completion of the background investigation. By law, mortgage agents and associated licensees are not required to pay the CPA assessment. Existing Licensees: Annually, the Division will mail invoices to all licensed mortgage brokers, mortgage bankers, escrow agencies and independent loan modification consultant, foreclosure consultant and covered service provider licensees (principal office
