What is the initial licensing fee for a branch office in the Mortgage Loan Recovery Fund?

The initial licensing fee for a branch office in the Mortgage Loan Recovery Fund is set at $250. This fee is part of the regulatory framework that ensures compliance and provides a degree of security for consumers engaged with branch offices in the mortgage loan sector.

Having a standardized fee helps maintain consistency across the industry and ensures that branch offices contribute to the Recovery Fund, which serves to protect borrowers from financial losses that may occur due to the actions of licensed mortgage loan originators. This understanding of the fee structure and its purpose is essential for mortgage loan originators operating in Hawaii, as it highlights the state's commitment to consumer protection and the integrity of the mortgage lending industry.