§6132. License fees.

(a) Initial application fees.--Except as set forth in subsection (d)(1), an applicant shall pay to the department at the time an application is filed an initial nonrefundable application fee as set forth under this subsection.

(1) For mortgage lenders and mortgage loan correspondents, $1,500 for the principal place of business and an additional fee of $1,500 for each branch office.

(2) For mortgage brokers, $1,000 for the principal place of business and an additional fee of $250 for each branch office.

(3) For mortgage originators, $200.

(b) Renewal fees.--Prior to each annual renewal of a license, except as set forth in subsection (d)(2), a licensee shall pay to the department a nonrefundable license renewal fee as set forth under this subsection.

(1) For mortgage lenders and mortgage loan correspondents, $750 for the principal place of business and an additional fee of $750 for each branch office.

(2) For mortgage brokers, $500 for the principal place of business and an additional fee of $250 for each branch office.

(3) For mortgage originators, $100.

(c) No abatement of fee.--No abatement of a licensee fee shall be made if the license is issued for a period of less than one year.

(d) Exception to mortgage originator license fees.--

(1) An applicant shall not be required to pay the fee for a mortgage originator license as provided in subsection (a) if the applicant is also individually a mortgage lender applicant, mortgage loan correspondent applicant or mortgage broker applicant.

(2) A licensee shall not be required to pay the fee for a mortgage originator license as provided in subsection (b) if the licensee is also individually a mortgage lender licensee, mortgage loan correspondent licensee or mortgage broker licensee.

(Aug. 5, 2009, P.L.117, No.31, eff. imd.)

Notation

2009 Amendment.  Act 31 amended subsecs. (a)(1) and (2) and (b) intro. par., (1) and (2) and added subsec. (d).