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Nationwide Mortgage Licensing System (“NMLS”) and Loan Originator Licensing

This page will provide current information about our Department relating to NMLS and Loan Originator licensing.  Please check back often for updates.

Latest News

Responsible Individual and Loan Originator Education as of September 25, 2009

Loan Originator Professional Requirements under SAFE as of September 25, 2009

The Arizona Department of Financial Institutions will begin accepting loan originator license applications through NMLS starting October 1, 2009.

List of Arizona Approved Course Providers

CSBS Launches SAFE Act-Required Mortgage Testing and Education Programs

HB2143 - Loan Originators; Mortgage Recovery Fund
HB 2143 is intended to bring the Arizona Loan Originator law into compliance with other states with regard to Loan Originator licensing. With few exceptions, Loan Originators would have to complete 20 hours of pre-licensing education; complete 8 hours of continuing education to renewal their license; have had a background check completed prior to licensure; complete a test on Federal and State laws/rules; and would require Loan Originators to be licensed starting July 1, 2010. To review HB 2143, please click here.

Important Links:

Renewal Checklist – mortgage industry (mortgage broker, mortgage banker, commercial mortgage banker)

NMLS (Nationwide Mortgage Licensing System) Resource Center

Arizona mortgage licensing requirements (includes the Requirement Checklists for New Applications, Amendments and license Surrender)

Loan Originator Professional Requirements:
            Loan Originator Testing Information
            Loan Originator Education (Course Providers and Course Listing)

RI Continuing Education Information

Mortgage Broker Course of Study and Testing Information

IMPORTANT DATES:

October 1, 2009 Applicants may begin applying for a commercial mortgage broker license through NMLS.

October 1, 2009 HB2143 (amending the loan originator statutes), HB2486 (creating the commercial mortgage broker license) and HB2318 (allowing a mortgage banker to convert to a mortgage broker) become effective.

November 2, 2009 All licensed mortgage brokers, mortgage bankers, commercial mortgage bankers and commercial mortgage brokers may submit their license renewals through NMLS.

December 31, 2009 All licensed mortgage brokers, mortgage bankers, commercial mortgage bankers and commercial mortgage brokers must have renewed their license.  If licenses have not been renewed, they will be suspended.

January 31, 2009 All mortgage brokers, mortgage bankers, commercial mortgage bankers and commercial mortgage brokers who have not renewed their license will expire.

July 1, 2010 Loan originators may not transact business in Arizona as a loan originator unless they are licensed by our Department.