Any person or business that directly or indirectly solicits, processes, places, or negotiates mortgage loans for others, or offers to solicit, process, place, or negotiate mortgage loans for others or who closes mortgage loans which may be in the mortgage broker's own name with funds provided by others and which loans are assigned within 24 hours of the funding of the loans to the mortgage lenders providing the funding of such loans in the State of Georgia must be licensed as a Georgia Mortgage Broker.  Loan Processors are required to be licensed as mortgage broker’s.  Licensees must post and maintain a Mortgage Broker License Surety Bond in the amount of $50,000.00.

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