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WBK Industry News - State Regulatory Developments

Michigan Publishes Mortgage Licensing Fees for 2019

The Michigan Department of Insurance and Financial Services has published its annual licensing fee schedule applicable to Michigan mortgage lenders, brokers, servicers, and loan originators.  Specifically, the schedule establishes the mortgage license, registration, and amendment fees under the Mortgage Brokers, Lenders, and Servicers Licensing Act, the Mortgage Loan Originator Licensing Act, and the Secondary Mortgage Loan Act.

The new schedule of fees makes no changes to the applicable licensing fees as compared to 2018. The new schedule will be effective for the licensing year January 1, 2019 to December 31, 2019.

The schedule of fees for each Michigan licensing act can be found at the following links: Mortgage Brokers, Lenders and Servicers Licensing Act Fees, Secondary Mortgage Loan Act Fees, and Mortgage Loan Originator Licensing Act Fees.