{"data":{"id":"us-dc/d.c.-code-26-1103","jurisdiction":"us-dc","citation":"D.C. Code § 26-1103","heading":"License requirements.","body":"(a)\n(1)\nNo person shall engage in business as a mortgage loan originator, loan officer, mortgage lender, mortgage broker, or any permissible combination thereof, or hold himself out to the public to be a mortgage loan originator, loan officer, mortgage lender, mortgage broker, or any permissible combination thereof, unless such person has first obtained a license under this chapter. Each licensee shall register with, and maintain a valid unique identifier issued by, the NMLSR.\n(2)\nEach independent contractor loan processor or underwriter licensed as a mortgage loan originator shall have, and maintain, a valid unique identifier issued by the NMLSR.\n(3)\nAn individual engaging solely in loan processor or underwriting activities, who does not represent to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that such individual can or will perform any of the activities of a mortgage loan originator shall not be required to obtain and maintain a license under this chapter.\n\n(b)\nTo qualify for a license, an applicant shall satisfy the Superintendent [Commissioner] that the applicant, including its members, officers, directors, and principals is of good moral character and has sufficient financial responsibility, business experience, and general fitness to:\n(1)\nEngage in business as a mortgage loan originator, loan officer, mortgage lender, or mortgage broker;\n(2)\nWarrant the belief that the business will be conducted lawfully, honestly, fairly, and efficiently; and\n(3)\nMeet the minimum liquidity and capital requirements as prescribed by the Commissioner.\n\n(b-1)\nAn applicant for a mortgage loan originator’s license shall have a sponsor.\n\n(c)\nThe Superintendent [Commissioner] may deny an application for a license to any person who has committed any act prior to the granting of the license that would be a ground for suspension or revocation of a license under this chapter.\n\n(c-1)\nThe Commissioner shall deny an application if the applicant has:\n(1)\nHad a mortgage loan originator license revoked by any governmental jurisdiction;\n(2)\nBeen convicted of, or pled guilty or nolo contendere to, a felony in a domestic, foreign, or military court during the 7-year period preceding the date of the application for licensing and registration; or\n(3)\nAt any time preceding the date of application, been convicted of, or pled guilty or nolo contendere to a felony, if such felony involved an act of fraud or dishonesty, a breach of trust, or money laundering.\n\n(d)\nTo apply for a license an applicant shall:\n(1)\nComplete and sign an application made under oath on the form that the Commissioner requires;\n(2)\nComply with all conditions and provisions of the application for licensure.\n\n(e)\nThe application shall include:\n(1)\nIf the applicant is an individual, the applicant’s name, business address, and telephone number, and residential address and telephone number;\n(2)\nIf the applicant is a partnership, limited liability company, or other noncorporate business association, the business name, business address, and telephone number, and the residential address and telephone number of each:\n(A)\nGeneral partner, if the applicant is a limited partnership;\n(B)\nGeneral partner who holds an interest in the partnership of more than 10%, if the applicant is a general partnership; or\n(C)\nMember, if the applicant is a limited liability company or a noncorporate business association;\n(3)\nIf the applicant is a corporation:\n(A)\nThe name, address, and telephone number of the corporate entity; and\n(B)\nThe name, business telephone number, and residential address and telephone number of the president, senior vice presidents, secretary, and treasurer, each director and each stockholder owning or controlling 10% or more of any class of stock in the corporation;\n(4)\nThe name under which the mortgage lender or mortgage broker business is to be conducted;\n(5)\nThe name and address of the applicant’s registered agent, if any;\n(6)\nThe address of the location of the business to be licensed;\n(7)\nWhether the applicant seeks a license to act as a mortgage loan originator, loan officer, mortgage lender, mortgage broker, or any permissible combination thereof; and\n(8)\nSuch other information concerning the financial responsibility, background, experience, and activities of the applicant and its members, officers, directors, and principals as the Superintendent [Commissioner] may require.\n\n(f)\nWith each application for licensure, the applicant shall pay the applicable fees prescribed by the Commissioner and any third-party fees.\n\n(g)\nThe Superintendent [Commissioner] may, from time to time, increase or decrease the fees set forth in this section. The fees shall be fixed at such rates, and computed on such bases and in such manner as may, in the judgment of the Superintendent [Commissioner], be necessary to defray the approximate costs of carrying out the regulatory functions set forth in this chapter. These fees shall not be abated by surrender, suspension, or revocation of a license.\n\n(h)\nFor each license for which an applicant applies, the applicant shall:\n(1)\nSubmit a separate application;\n(2)\nPay a separate license fee;\n(3)\n(A)\nFile a separate surety bond or other financial guaranty under subsection (i) of this section;\n(B)\nThe applicant shall demonstrate that the applicant has met net worth and surety bond requirements or, as prescribed by the Commissioner, paid into a District of Columbia fund;\n(4)\nMeet educational requirements prescribed by the Commissioner;\n(5)\nProvide proof of compliance with pre-licensure testing and post-licensure continuing education requirements as prescribed by the Commissioner; and\n(6)\nComply with any other requirement prescribed by the Commissioner.\n\n(h-1)\n(1)\nThe Commissioner shall require, by rule, that an applicant applying for licensure under this chapter, and any such other person as the Commissioner considers appropriate, submit his name, contact information and other identifying information, fingerprints, written consent to a criminal background check, an independent credit report, and information related to any administrative, civil, or criminal findings by any governmental jurisdiction with the applicant’s application.\n(2)\nFor the purposes of this chapter, the Commissioner may use the NMLSR as an agent for requesting information from, and distributing information to, the Federal Bureau of Investigation, the Department of Justice, any governmental agency, or any source so directed by the Commissioner.\n\n(h-2)\nThe Commissioner may waive or defer any licensing requirement, other than requirements mandated by 12 U.S.C. § 5105, 5106, and 5108(d), for good cause shown in writing.\n\n(i)\nAn applicant for an original license or for the renewal of a license shall file a surety bond with each original application and any renewal application for the license.\n(1)\nThe surety bond shall:\n(A)\nRun to the Commissioner for the benefit of the District and any person who has been damaged by a licensee as a result of violating any law or regulation governing the activities of mortgage loan originators, mortgage lenders, or mortgage brokers;\n(B)\nBe issued by a surety company authorized to do business in the District;\n(C)\nBe conditioned upon the applicant complying with all District laws regulating the activities of mortgage lenders, mortgage brokers, and mortgage loan lending and performing all written agreements with borrowers or prospective borrowers, accounting for all funds received by the licensee in conformity with a standard system of accounting consistently applied; and\n(D)\nBe continuously maintained thereafter for as long as any license issued under this chapter remains in force.\n(2)\nRepealed.\n(3)\nRepealed.\n(4)\nRepealed.\n(5)\nAny person who may be damaged by noncompliance of a licensee with any condition of such bond may proceed on such bond against the principal or surety thereon, or both, to recover damages. Regardless of the number of years the bond remains in effect, the number of premiums paid, the number of renewals of the license, or the number of claims made, the aggregate liability under the bond shall not exceed the penal sum of the bond.\n(6)\nSurety bond requirements shall be prescribed by the Commissioner.\n\n(j)\nAny license issued pursuant to this section shall be issued as a Financial Services endorsement to a basic business license under the basic business license system as set forth in subchapter I-A of Chapter 28 of Title 47 of the District of Columbia Official Code.","path":["Title 26. Banks and Other Financial Institutions.","Chapter 11. Mortgage Lenders and Brokers."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/26-1103","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"24809fbc92f086bce58d57ad348f707887122fc3a18f20ea94e7e1a4ccf783dd","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-26-1102","next":"us-dc/d.c.-code-26-1104"},"notice":"GroundRules: Original legal text. Not legal advice."}