CMG is a fully licensed mortgage lender in all 50 states – plus Guam, Puerto Rico, and the U.S. Virgin Islands. So yes, a “business trip” to the Virgin Islands is technically on the table. Kidding… sort of.
Loan Officers at CMG have the freedom to get licensed in as many states as they choose. The responsibility for state license fees and continuing education lies with the Loan Officer. While corporate policy encourages strategic licensing – meaning licenses should support repeatable or marketable business opportunities – there is room for exception.
North Texas regional leadership believes every loan matters. If there’s a business case to get licensed in a state where the branch is not currently present, go for it. If the branch is already licensed, the Loan Officer’s licensing cost is the only expense – and the expectation is to originate wherever business can be earned.
Not Licensed? Not a Problem
If you’re currently at a bank or credit union and haven’t held a state license before – don’t worry. CMG’s licensing team is available to walk you through the entire process. In Texas, the required 20-hour pre-licensing course can be completed in just two days. While no one loves taking time out for coursework, these hours often include valuable insights into industry standards and practices.
Whether it’s the 20-hour course to get started or the annual 8-hour continuing education requirement, these are short-term investments that lead to long-term career gains. Don’t let licensing requirements hold you back from transitioning to a more flexible and rewarding model.
Temporary Authority
CMG supports Temporary Authority to Operate in states that allow it, like Texas. This enables Loan Officers to begin working on loans immediately upon submitting a license application, without having to wait for full approval.
This is a huge advantage during transition periods. When Loan Officers move to CMG, they don’t need to sit on the sidelines while waiting for license transfers. You can start originating loans on Day One.
Just note: a very small number of states do not allow Temporary Authority. Our licensing team can confirm which states apply.
Out-of-State Referrals
Loan Officers who choose not to get licensed in a particular state can still benefit from referral opportunities. CMG’s internal referral program allows a referral fee to be paid to the referring Loan Officer.
Furthermore, these referred units count toward production totals for the annual President’s Council trip, making it both a financial and strategic win.
The Bank Advantage (Without the Bank Compliance)
CMG is currently in the process of acquiring Greenwoods State Bank, a small bank headquartered in Wisconsin. The offical closing is projected to be in Q4 of 2025. While this acquisition will change our landscape and offer a multitude of advantages, the details regarding licensing and the bank’s structure are still being finalized.
Call to Action
Curious about expanding your license footprint or making a move from a depository institution? Let’s talk.
Our team will walk you through the licensing process, help structure your production plan, and show you how CMG’s national platform can unlock more opportunity without the red tape.