Financial Statement & Net Worth
State requirements for financial statements and net worth vary by jurisdiction and license type. Review the comprehensive matrix below to understand the specific requirements for your state and license type.
Financial Statement & Net Worth Requirements by State
| State | License Type | New Applicants | Annual | Net Worth |
|---|---|---|---|---|
| AK | Mortgage Broker/Lender License | Unaudited (not compiled/reviewed) | Unaudited | None |
| AL | Consumer Credit License | Unaudited-Compiled | None | None |
| AL | Mortgage Brokers License | Unaudited-Compiled | None | None |
| AR | Combination Mortgage Banker-Broker Servicer License | Audited | Audited | $25,000 |
| AR | Mortgage Banker License | Audited | Audited | $25,000 |
| AR | Mortgage Broker License | Unaudited | None | $25,000 |
| AR | Mortgage Servicer License | Audited | Audited | $25,000 |
| AZ | Commercial Mortgage Banker License | Audited | Audited | $100,000 |
| AZ | Commercial Mortgage Broker License | Unaudited | Unaudited | Positive |
| AZ | Mortgage Banker License | Audited | Audited | $100,000 |
| AZ | Mortgage Broker License | Unaudited | Unaudited | Positive |
| AZ | Registered Exempt Person | None | None | None |
| CA-BRE | Real Estate Broker License | None | None | None |
| CA-BRE | Real Estate Corporation License | None | None | None |
| CA-DBO | Exempt Company Registration | None | None | None |
| CA-DBO | Finance Lenders Law License | Unaudited | None | $250,000 |
| CA-DBO | Residential Mortgage Lending Act License | Audited | Audited | $250,000 |
| CO | Mortgage Company Registration | None | None | None |
| CT | Exempt Registration | None | None | None |
| CT | Mortgage Broker License | Unaudited (not compiled/reviewed) | None | $50,000 |
| CT | Mortgage Correspondent Lender License | Unaudited | None | $50,000 |
| CT | Mortgage Lender License | Unaudited | None | $250,000 |
| DC | Mortgage Broker License | Unaudited | Unaudited | $25,000 |
| DC | Mortgage Dual Authority License | Unaudited | Unaudited | $225,000 |
| DC | Mortgage Lender License | Unaudited | Unaudited | $200,000 |
| DE | Broker License | Unaudited | None | Positive |
| DE | Lender License | Unaudited | None | Positive |
Note: This matrix provides general guidance. Requirements may change. Consult your state's regulatory agency for the most current information.
Need Mortgage Licenses or Exemptions?
Consult with Herb Thomas, the foremost attorney on mortgage licenses in the US.