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 State Licensing Requirements 

 
Company Licenses Description Requirements Checklist
Escrow Depository License This license will be available September 1, 2016. Pursuant to Chapter 449, Hawaii Revised Statutes (“HRS”), no person shall act as an escrow depository in this State unless it is a corporation licensed to do so by the Commissioner of Financial Institutions. An escrow depository, as defined by Chapter 449, HRS, means the corporation which, in an escrow, and for compensation, receives, holds, and delivers the money, other consideration, or instrument affecting title to real property. Certain exemptions from Chapter 449, HRS can be found in Section 449-3, HRS.
Exempt Sponsoring Mortgage Loan Originator Company This is a registration; not a license, nor an application for a license. This registration is for any person who is not required to be licensed under HRS Chapter 454F, but has the obligation to register with the Nationwide Mortgage Licensing System because one or more of the person's employees or exclusive agents engages in the business of a mortgage loan originator and is required to be licensed as a mortgage loan originator. (More Details)
Money Transmitter License This license is required for any person or company engaging in the business of (a) selling or issuing payment instruments (such as drafts, money orders, traveler's checks, or any other electronic instruments or written instruments, including stored value cards or devices), or (b) receiving money or “monetary value” (defined broadly and which includes virtual currency) for transmission to any location by any and all means, including wire, facsimile, or electronic transfer. This license is not required for a provider of courier services, a seller or issuer of instruments such as gift cards only redeemable by that issuer for goods and services, an authorized delegate of a licensee, and certain types of institutions listed in HRS Sections 489D-5 and 489D-9.5. (More Details)
Mortgage Loan Originator Company License This license is required for any company who employs or utilizes the exclusive services of any individual required to be licensed as a mortgage loan originator. This license is also required for any individual who engages in the business of a mortgage loan originator as a sole proprietorship. (More Details)
Mortgage Servicer License This license is required for any person responsible for receiving any scheduled periodic payments from a borrower pursuant to the terms of any residential mortgage loan, including amounts for escrow accounts under section 10 of the Real Estate Settlement Procedures Act, 12 United State Code Section 2609, and for making the payments to the owner of the loan or other third parties of principal and interest and such other payments with respect to the amounts received from the borrower as may be required pursuant to the terms of the mortgage servicing loan documents or servicing contract.
Mortgage Servicer Loan Modification License Per Act 122, 2016 Hawaii Sessions Law, effective July 1st, 2016, the Mortgage Servicer Loan Modification License is repealed and will no longer be available in NMLS. Current licensees should request to surrender their Mortgage Servicer Loan Modification License through NMLS by July 30th, 2016. (More Details)
Non-Profit Registration This is a registration; not a license, nor an application for a license. This registration is for a non-profit organization that is not required to be licensed under HRS Chapter 454F, but has the obligation to register with the Nationwide Mortgage Licensing System because one or more of the organization's employees or exclusive agents engages in the business of a mortgage loan originator. (More Details)
Branch Licenses Description Requirements Checklist
Escrow Depository Branch License This license will be available September 1, 2016. Pursuant to Section 449-20, Hawaii Revised Statutes, no escrow depository may establish a branch office without first obtaining prior written approval from the commissioner. The application shall set forth the reasons for the branch office and other information that may be required by the Commissioner of Financial Institutions. This license should only be applied for by a company that also holds or is applying for an Escrow Depository License.
Money Transmitter Branch Registration Money transmitter branches are not required to be licensed; however, a money transmitter must register its Hawaii branches in NMLS using the Branch form. (More Details)
Mortgage Loan Originator Company Branch License This license is required for any approved mortgage loan originator company branch office, other than the principal place of business. (More Details)
Individual Licenses Description Requirements Checklist
Mortgage Loan Originator License This license is required for any individual, who for compensation or gain or in the expectation of compensation or gain takes a residential mortgage loan application; or offers or negotiates terms of a mortgage loan on residential property in Hawaii. This license is required for any underwriter or loan processor who originates mortgage loans and works as an independent contractor. (More Details)
Sole Proprietor Mortgage Loan Originator License This license is required for any individual sole proprietor or independent contractor whose company consist of a single individual not exempt under HRS Chapter 454F-2, who for compensation or gain or in the expectation of compensation or gain takes a residential mortgage loan application; or offers or negotiates terms of a mortgage loan on residential property in Hawaii. The sole proprietor or independent contractor must also apply for a Mortgage Loan Originator Company license. (More Details)
 

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