Licensees

Starting on April 16, 2012, the Vermont Banking Division  will expand its use of the Nationwide Mortgage Licensing System & Registry (NMLS) to manage other non-depository financial service licenses.  Through NMLS, companies will be able to apply for, amend, and renew license authority conveniently and safely online. For additional information on the expansion of NMLS, click here

Transition Periods For Existing Licensees:

Debt Adjuster Licenses - Janaury 1, 2013 through March 31, 2013 Details

Check Cashing & Currency Exchange Licenses - July 1, 2012 through September 30, 2012 Details

Motor Vehicle Retail Installment Sales Finance Licenses - April 16, 2012 through June 30, 2012 Details

Retail Installment Sales Finance Licenses - April 16, 2012 through June 30, 2012 Details

Licensee Examination Information

Information regarding frequency and content of examinations of Licensed Lenders Details

Loan Servicers

This license is required of any company or sole proprietorship who engages in the business of servicing a residential mortgage loan, directly or indirectly, owed or due or asserted to be owed or due to a third party.  Click Loan Servicer License for more details. 

Lender License

This license is required of any company or sole proprietorship who engages in the business of making loans in Vermont.  Click Lender License for more details.

Commercial Lender License

This license is required of any company or sole proprietorship who engages in the business of making solely commercial loans in Vermont.  Click Commercial Lender License for more details.

Mortgage Broker License

This license is required of any company or sole proprietorship, who for compensation or gain, or in the expectation of compensation or gain, directly or indirectly negotiates, places, assists in placement, finds or offers to negotiate, place, assist in placement or find mortgage loans, other than commercial loans, secured by Vermont real property for others. Click Mortgage Broker for more details.

Mortgage Broker - Sole Proprietor License

This license is designed specifically for a sole proprietorship who engages in limited (5 or fewer loans per calendar year)mortgage broker activity, for whom no person other than the individual sole proprietor is authorized to act under the license. Click Mortgage Broker - Sole Proprietor for more details.

Mortgage Loan Originator License

This license is required of any individual that:

• takes a residential mortgage loan application; or
• offers or negotiates terms of a residential mortgage loan

Click Mortgage Loan Originator for more details.

Sales Finance Company License

This license is required of any company or sole proprietorsship who purchases one or more retail installment contracts from one or more retail sellers located in Vermont.  Click Sales Finance Company for more details.

Debt Adjuster License

This license is required of any company or sole proprietorship that contracts with a debtor to distribute, supervise, coordinate, negotiate, or control the distribution of money to one or more of the debtor's creditors in full or partial payment of an obligation.  Click Debt Adjuster for more details.

Money Services License

Money Transmitter

• This license is required of any company or sole proprietorship who engages in the business of selling or issuing payment instruments, stored value, or receiving money or monetary value for transmission to another location.

Check Cashing & Currency Exchange

• This license is required of any company or sole proprietorship who engages in the business of cashing checks or providing currency exchange.

Click Money Servicer for more details.