We are a FDIC and NJDOBI regulated Bank and are thinking about opening up a loan production office early next year. We are in the very early stages of exploring this option and have a few questions.

1. Does anyone know whether an application will be required? Any notice requirements?

2. What activities may be performed at the LPO? We will obviously limit the office to lending functions only, but specifically what is allowed before the LPO will be considered a branch?

There is no posted application to open an LPO. Give them a call, they are quick to call back.