Statement from Commissioner Michael Pieciak

Statement from Commissioner Pieciak: DFR staff have been directed to work remotely from home, and will continue to do so until further notice. The department is still conducting business, however the remote nature of our work may cause some temporary disruptions or delays in DFR services. Read the full letter for more information about contacting DFR.

Combination License

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

New company license applications are required to meet all surety bond requirements by completing the electronic surety bond process.


Annual Report of Licensee for YE 12/31/2019 is now in electronic form. Due April 1, 2020. Note: This report is not required for Licensed Lenders that engage in only residential mortgage lending.

Note: This due date has been moved to June 1, 2020 in light of the COVID-19 pandemic

Vermont Related/Referenced Statutes and Regulations

Title 8, V.S.A. Chapter 73, Licensed Lenders, Mortgage Brokers, Mortgage Loan Originators, Sales Finance Companies, and Loan Solicitation Companies 
Title 8, V.S.A. Chapter 72, General Provisions

Who is eligible to have this license?

Any company or who is engaged in business covered by two or more of the following licenses in Vermont: lender license, mortgage broker license, loan solicitation license, and loan servicer license.  [Note: The company’s main office must obtain a combination license prior to, or simultaneously with, the filing of a branch combination license.]
Each location, whether located in Vermont or not, desiring to engage in the business activities covered by the combination license in Vermont must obtain a separate license by filing a Form MU3 through the NMLS.

What are the fees?

Initial Application:

$3,100.00 (includes a $1,500.00 Licensing Fee, a $1,500.00 Investigation Fee; and the $100 NMLS processing fee)

Additional Applications:

  • Corporate licenses - $3,100.00 (includes a $1,500.00 Licensing Fee, a $1,500.00 Investigation Fee, and $100.00 NMLS processing fee)
  • Branch licenses - $3,020.00  (includes a $1,500.00 Licensing Fee, a $1,500.00 Investigation Fee, and $20.00 NMLS processing fee)


  • Corporate licenses -  $1,800.00 (Includes $100 NMLS processing fee)
  • Branch licenses - $1,730.00 (Includes $30 NMLS processing fee)
  • Change in Address: $100.00
What are the prerequisites for license application?

Applicant must be licensed to engage in the combination business activities in its state of domicile and must be in good standing in its state of domicile with its banking regulator or equivalent financial industry regulator.

  • Bond amount: $ 200,000.00, minimum amount (the required bond amount increases based upon the dollar amount of loans originated in Vermont)
  • Registered Agent recorded with the Vermont Secretary of State

Contact Information

Department of Financial Regulation
Consumer Services 
89 Main Street, Montpelier, VT 05620 - 3101

833-DFR-HOTLINE (toll free)
833-337-4685 (toll free)

Public Information
For public records, media inquiries, and press releases visit our Public Information web page

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Employee Information