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Loan Servicers

The State of Vermont participates in the Nationwide Multistate Licensing System (NMLS).  All applications for a lender license must be submitted through NMLS.

Frequently Asked Questions

Jurisdiction Specific Forms

Financial Statement


Vermont does not require any reports outside of NMLS at this time. 

Vermont Related/Referenced Statutes and Regulations

Who is required to have this license?

Any company that receives a scheduled periodic payment from a borrower pursuant to the terms of a residential mortgage loan, including amounts for escrow accounts, and makes the payments to the owner of the loan or another third party of principal and interest and other payments with respect to the amounts received from the borrower as may be required pursuant to the terms of the servicing loan document or servicing contract.  In the case of a home equity conversion mortgage or a reverse mortgage, loan servicing includes making payment to the borrower.  [Note: The company’s main office must be licensed as a loan servicer prior to, or simultaneously with, the filing of a branch loan servicer license.]

Each location, whether located in Vermont or not, desiring to engage in the business of servicing Vermont residential mortgage loans must obtain a separate license by filing a Form MU3 through the NMLS.

Who does not need this license?

The following is a partial list of exceptions.  For a complete list of exceptions, please refer to 8 V.S.A. § 2901(b)

  • a  depository institution [see the definition of “depository institution” in 8 V.S.A. § 11101(32)]
  • a Vermont licensed lender that retains the servicing rights on a loan originally closed in the lender's name and subsequently sold in whole or in part
  • a Vermont licensed debt adjuster [see definition of "debt adjuster' in 8 V.S.A. § 4861 as amended by Act 137]
  • an attorney licensed in Vermont when collecting a debt on behalf of a client
  • a HUD approved housing counseling agencies with a physical presence in Vermont and only lends state or federal funds
What are the fees?


$2,100.00 (includes a $1000.00 Licensing Fee, a $1000.00 Investigation Fee; and the $100 NMLS processing fee)


$1,100.00 (Includes $100 NMLS processing fee)

Change in Address: $100.00

What are the prerequisites for license application?
  • Bond amount: $ 100,000.00, minimum amount  or such sum as the commissioner may require.
  • Registered Agent recorded with the Vermont Secretary of State.