The State of New Jersey
NJ Department of Banking and Insurance
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Home > Banking Division > Banking Licensees > Home Financing Agency > FAQs
Frequently Asked Questions - Home Financing Agency

1.
How long does it take to process an application?

A properly completed application will be processed within 30 days of receipt.

2. What is required to obtain the license?
All information as to how to apply for a license is contained in the instructions

3. When does the license expire?
All licenses that are initially issued anytime between July 1, 2011 and June 30, 2013 will expire on June 30, 2013.  Thereafter, all licenses will be subject to renewal for a 2-year term beginning on July 1st of  an odd year and expiring on June 30th of  the following odd year, ie July 1, 2013 through June 30, 2015.

4. How can I get a copy of the law governing this license?
See Frequently Requested Documents, which lists the cost of copies of the statutes and send remittance with request to the address provided.

5. Can I pay the application fee by credit card?
Currently, credit card payments are not permissible.

6. What if my application is withdrawn or denied?
All fees paid are non-refundable.

7. What is the procedure if I change my address?
Complete the Request for Change of Legal Name or Address form found on our web site.

8. What is the procedure if I change the business name or add an alternate name?
Complete the Request for Change of Legal Name or Address form found on our web site. Enclose a copy of the amended Certificate of Incorporation, if a corporation; a copy of the amended Certificate of Formation, if a limited liability company; a copy of the amended or new trade name certificate, if a partnership or sole proprietorship; a copy of amended Certificate of Authority to do business in New Jersey, if a foreign corporation; a copy of the Registration of Alternate Name, if adding a "doing business as" name.

9. What must I do if my license is lost or destroyed?
You are required to notify the Department in writing to request the printing of a duplicate license.

10. When do I file the annual report?
All annual reports are due by May 1st. They can be filed online.

11. How do I renew my license?
Renewal instructions will be sent to you on or before April 1st of the year in which your license expires.

12. What must I do if I go out of business?
You are required to notify the Department in writing and surrender the license to the Department.

13. What if I change the legal style of the business?
You must file a new application reflecting the new legal style.  For example, if you change from a sole proprietorship to a corporation, a new application with supporting documentation must be filed in the name of the corporation.

14. Is the license transferrable?
No.  A license may not be transferred from one entity to another.

15. How can I contact DOBI if I have a question that wasn’t answered above?
You can put your question in writing and fax it to us at (609) 633-0822 or by e-mail to bliconline@dobi.state.nj.us.
 
 
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New Jersey Department of Banking and Insurance