§ 6132. License fees.

670 words·~3 min read·/pa/title-7/chapter-61/6132

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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.

07c6132v

(Aug. 5, 2009, P.L.117, No.31, eff. imd.; Dec. 22, 2017, P.L.1260, No.81; Feb. 3, 2022, P.L.24, No.8, eff. 60 days)

2022 Amendment. Act 8 amended subsecs.

(a)intro. par. and (1),

(b)intro. par. and

(1)and

(d)and added subsecs. (a.1) and (b.1).

2017 Amendment. Act 81 amended subsecs. (a),

(b)and (d). Section 9(2) of Act 81 provided that the amendment of section 6132 shall take effect upon the effective date of regulations promulgated under section 6141 of this title.

07c6133s