Michigan Modification to Mortgage Loan Originator Fees

• October 25, 2016
• Theresa Dydzak

Michigan’s Department of Insurance and Financial Services updated its annual licensing fees for the Mortgage Brokers, Lenders and Servicers Licensing Act and the Secondary Mortgage Act. The current fees will remain in place for the remainder of 2016. The new fees, as outlined below, will be effective between January 1^st and December 31^st of 2017.

License application

• Loan Originator License fee………………………………………………………….$250.00

Amendments

• Change in Employer/Sponsor fee ………………………………………………….$100.00
• Loan Originator Name & Business Address Amendment fee ………………….$15.00

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