(a) Initial application fees.--Except as set forth in subsections (a.1) and (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, $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.
(4) For mortgage servicers, $2,500 for the principal place of business and an additional fee of $1,250 for each branch location.
(a.1) Enhanced initial application fees.--Except as set forth in subsection (d)(1), if in any calendar year there is at least a 20% reduction in the total number of branch licenses that existed in calendar year 2021, 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, $1,725 for the principal place of business and an additional fee of $1,725 for each branch office.
(2) For mortgage brokers, $1,150 for the principal place of business and an additional fee of $300 for each branch office.
(3) For mortgage originators, $225.
(4) For mortgage servicers, $2,875 for the principal place of business and an additional fee of $1,450 for each branch location.
(b) Renewal fees.--Prior to each annual renewal of a license, except as set forth in subsections (b.1) and (d)(2), a licensee shall pay to the department a nonrefundable license renewal fee as set forth under this subsection.
(1) For mortgage lenders, $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.
(4) For mortgage servicers, $1,000 for the principal place of business and an additional fee of $500 for each branch location.
(b.1) Enhanced renewal fees.--Prior to each annual renewal of a license, except as set forth in subsection (d)(2), if in any calendar year there is at least a 20% reduction in the total number of branch licenses renewed in calendar year 2021, a licensee shall pay to the department a nonrefundable license renewal fee as set forth under this subsection:
(1) For mortgage lenders, $875 for the principal place of business and an additional fee of $875 for each branch office.
(2) For mortgage brokers, $575 for the principal place of business and an additional fee of $300 for each branch office.
(3) For mortgage originators, $125.
(4) For mortgage servicers, $1,150 for the principal place of business and an additional fee of $575 for each branch location.
(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) or (a.1) if the applicant is also individually a mortgage lender applicant, mortgage servicer 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) or (b.1) if the licensee is also individually a mortgage lender licensee or mortgage broker licensee.
Credits
2008, July 8, P.L. 796, No. 56, § 1, effective in 120 days [Nov. 5, 2008]. Amended 2009, Aug. 5, P.L. 117, No. 31, § 9, imd. effective; 2017, Dec. 22, P.L. 1260, No. 81, § 7, effective upon promulgation of regulations under 7 Pa.C.S.A. § 6141 [48 Pa.B. 2493, April 28, 2018]; 2022, Feb. 3, P.L. 24, No. 8, § 3, effective in 60 days [April 4, 2022].
7 Pa.C.S.A. § 6132, PA ST 7 Pa.C.S.A. § 6132
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
