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Licensing Renewal

All entities holding a Mortgage License in Arizona must submit a renewal request through NMLS between the established renewal dates.  You may submit a renewal request up to 30 days after the end of the regular renewal period, but there will be a late fee assessed of $25.00 per day depending on your license type.  The NMLS streamlined renewal process allows you to conveniently manage the renewal of your company and branch licenses through your entity’s NMLS account.  Specific renewal dates and information for each license type is set forth below:

Mortgage Broker,  Commercial Mortgage Broker:

A licensee shall pay the renewal fee on or before December 31 of each year. Licenses not renewed by December 31 are suspended, and the licensee shall not act as a mortgage broker or a commercial mortgage broker until the license is renewed or a new license is issued pursuant to this article. A person may renew a suspended license by paying the renewal fee plus twenty-five dollars for each day after December 31 that a license renewal fee is not received by the superintendent and applying for renewal as prescribed by the superintendent. A license that is not renewed by January 31 expires. A license shall not be granted to the holder of an expired license except as provided in this article for the issuance of an original license.

Mortgage Banker:

A licensee shall pay the renewal fee on or before December 31. Licenses not renewed by December 31 are suspended, and the licensee shall not act as a mortgage banker until the license is renewed or a new license is issued pursuant to this article. A person may renew a suspended license by paying the renewal fee plus twenty-five dollars for each day after December 31 that a license renewal fee is not received by the superintendent and applying for renewal as prescribed by the superintendent. Licenses that are not renewed by January 31 expire. A license shall not be granted to the holder of an expired license except as provided in this article for the issuance of an original license.

Commercial Mortgage Banker:
If a license is not renewed by December 31 of each year, the license is suspended. The licensee shall not act as a commercial mortgage banker until the license is renewed or a new license is issued pursuant to this article.  A person may renew a suspended license by applying for renewal as prescribed by the superintendent.  Licenses that are not renewed by January 31 expire. A license shall not be granted to the holder of an expired license except as provided in this article for issuing an original license.

Registered Exempt Person:

A person shall make an application for renewal of a certificate of exemption in writing on the forms, in the manner and accompanied by the information prescribed by the superintendent. The superintendent may require additional information on the experience, background, honesty, truthfulness, integrity and competency of the applicant and the responsible individual designated by the applicant.  Renewal must be made to the Department by December 31 of each year.

Loan Originator:
A person shall make an application for renewal of a license in writing in the manner prescribed by the superintendent and accompanied by the information prescribed by the superintendent.  Before submitting a renewal application, an applicant for renewal of a loan originator license shall have satisfactorily completed eight approved continuing education units that include at least:
1. Three hours of federal law.
2. Two hours of ethics, including instruction on fraud, consumer protection and fair lending issues.
3. Two hours of training related to lending standards for the nontraditional mortgage product marketplace.

4. One hour of Arizona law.