Mortgage licensing / Arizona

Arizona Commercial Mortgage Banker License

company licence · NMLS AZCOMMBANKER_C · DIFI

Requirements (16)

1. Step 1

   Branch Locations: • Arizona is a brick and mortar state. At least 1 place of business must be an Arizona residence or commercial property. If the entity's physical address is not located in Arizona, a separate branch application is required. • A separate branch application must be submitted for all additional branch locations.

   Submitted via: NMLS

2. Step 2

   Other Trade Name(s): • List your DBA or Trade Name(s) used in Arizona in the "Other Trade Names" section of the Company Form MU1. • You may only transact business in the legal name of the entity and any name(s) approved and listed for Arizona under the "Other Trade Names" section in NMLS. • A licensee may not use an assumed name or trade name that either 1. Is so substantially similar to the assumed name or trade name of another department licensee that it may cause uncertainty or confusion among the public; 2. Tends to deceive or mislead the public as to the nature of business that the licensee conducts. • A person using an approved assumed or trade name shall notify the AZ-DIFI within 15 days after any material change to the name. • It is recommended that each DBA or Trade name is registered with the Arizona Secretary of State.

   Submitted via: NMLS

3. Step 3

   Responsible Individual (Qualifying Individual): • List one person who qualifies as your Arizona Responsible Individual in the "Qualifying Individual" section of the Company Form MU1. Qualifications for this Position: • Must be a resident of Arizona • A W2 employee of the company (this does NOT include a 1099- independent contractor) • Have not fewer than three year's experience in the business of making mortgage banking loans or equivalent lending experience in a related business. • NOTE: The Responsible Individual will be required to complete 12 hours of continuing education (CE) relating to the mortgage industry prior to renewal each year. 8 hours of Loan Originator CE can be applied towards the 12 hour requirement. Completion certificates should be uploaded under "Verification of Experience" in the Document Uploads section of the Form MU2. "Active Management" means directing a licensee's activities by a responsible individual, who; Is knowledgeable about the licensee's Arizona activities; Supervises compliance with: The lows enforced by the Department of Insurance and Financial Institutions as they relate to the licensee, and other applicable laws and rules; And has sufficient authority to ensure compliance. "Resident of this state" means a natural person domiciled in Arizona. Responsible Individual" or "responsible person" - AAC R20-4-102(27) states: "as those terms are used in ARS § 6-903, 6-943, 6-973, and 6-976, means a resident of this state who: Lives in Arizona during the entire period of designation as the responsible individual on a license; Is in active management of a licensee's affairs; Meets the qualifications listed ARS § 6-903, 6-943, or 6-973; and is an officer, director, member, partner, employee, or trustee of a licensed entity. Equivalent and Related Experience • An applicant may satisfy the three year's experience requirement of ARS § 6-943 by the types of lending-related experience listed in this subsection. The Department counts each month in the following types of work experience, or as a responsible individual, both under ARS § 6-943(C). The Department counts a fractional month of experience, at least as a full month. • Mortgage banker with an Arizona license, responsible individual, or branch manager for a licensee • Mortgage broker with an Arizona license, responsible individual, or branch manager for a licensee • Loan officer with responsibility primarily for loans secured by lien interests on real property • Lender's branch manager with responsibility primarily for loans secured by lien interests on real property • Mortgage banker with a license from another state, or responsible individual for the mortgage banker • Mortgage broker with a license from another state, or responsible individual for the mortgage broker • Attorney certified by any state as real estate specialist • An applicant with insufficient actual experience of the types listed in subsection (A) may satisfy the remainder of the three years' experience requirement of ARS § 6-943 by the types of related experience listed in this subsection. The Department counts each month in the following types of work experience according to the ratio listed below, of actual experience to equivalent experience, credited toward qualifying for a license, or as a responsible individual, both under ARS § 6-943(C). The Department counts a fractional month of experience, at least 15 days long, as a full month. An applicant receives credit in only one area listed and for not more than three years' actual experience. The remaining years of experience required to qualify for a license shall be obtained from types of work experiences listed in subsection (A). • Attorney without state bar certified real estate specialty...3:2 • Paralegal with experience in real estate matters...3:2 • Loan underwriter...3:2 • Mortgage banker or mortgage broker from another state without license...3:2 • Real estate broker with an Arizona license or license from a state with substantially equivalent licensing requirements...3:2 • Escrow officer...3:2 • Trust officer with a title company...3:2 • Executive, supervisor, or policy maker involved in administering or operating a mortgage-related business...3:1.5 • Title officer with a title company...3:1.5 • Real estate broker, not qualified under subsection (B)(5)...3:1.5 • Loan processor with responsibility primarily for loans secured by lien interests on real property...3:1.5 • Lender's branch manager with responsibility primarily for loans not secured by lien interests on real property...3:1.5 • Real property salesperson, with an Arizona license or a license from a state with substantially equivalent licensing requirements...3:1 • Loan officer, with responsibility primarily for loans not secured by lien interests on real property...3:1

   Submitted via: NMLS

4. Step 4

   Verification of Experience: For the Responsible Individual,provide the following: • List all applicable Employment History (pertaining to the experience requirement above) in the “Employment History” section of the individual’s Form MU2. If the department needs supporting information (such as a resume or a letter(s) of reference) to determine eligibility, we will place a deficiency via the NMLS during the review of the application.

   Submitted via: NMLS

5. Step 5

   MU2 Individual FBI Criminal Background Check Requirements: Pursuant to ARS § 6-123.01, AZ-DIFI has the authority to require fingerprints and background checks for all applicants, licenses, active managers or responsible individuals, or any organizer, director or officer of any corporate applicant or licensee, or any individual in control of a licensee or applicant, or any individual who seeks to acquire control of a licensee or each key individual. The following individuals, specified on the Company Form MU1 are required to authorize an FBI criminal background check (CBC) through the NMLS. Direct Owners/Officers - CBC is not required for individuals who have had a CBC completed and reviewed by the AZ-DIFI within the previous 12 months. • All individuals who hold 20% or more of the voting shares. • Top 3 individuals that are responsible for and provide oversight for the entity's business activity.Qualifying Individual - CBC is not required for individuals who have had a CBC completed and reviewed by the AZ-DIFI within the previous 12 months. After review of the application the Department may require additional CBC's to be completed as stated below. Indirect Owners and Additional Officers - CBC is not required for individuals who have had a CBC completed and reviewed by the AZ-DIFI within the previous 12 months. After authorizing an FBI criminal background check through the submission of the Company Form MU1 and Individual Form MU2, you must schedule an appointment to be fingerprinted if new prints are required. See the Quick Guides - Company section of the NMLS Resource Center for more information. Note: If you are able to "Use Existing Prints" to process the FBI criminal background check, you DO NOT have to schedule an appointment. NMLS will automatically submit the fingerprints on file.

   Submitted via: NMLS

6. Step 6

   Formation Document: Upload a certified copy of the applicable document listed below into the Document Uploads section of the Company Form MU1 • The Corporate Charter or Articles of Incorportaion • The Articles of Organization and Operating Agreement (LLC) • The Partnership Agreement (Partnership of any form

   Submitted via: NMLS

7. Step 7

   Surety Bond: If your investors are limited solely to Institutional Investors, the Surety Bond amount is $25,000. Otherwise the Surety Bond amount is $100,000. "Institutional investor" means a state or national bank, a state or federal savings and loan association, a state or federal savings bank, a state or federal credit union, a federal government agency or instrumentality, a quasi-federal government agency, a financial enterprise, a licensed real estate broker or salesman, a profit sharing or pension trust, or an insurance company. • Upload a Surety Bond into the “Document Uploads” section of the Form MU1. You must use the Arizona Surety Bond Form. • The bond must be signed by all parties. The name of the officer that signs the bond must be printed on the bond. • Arizona requires one surety bond per license type (it will cover all DBA licenses). Do not include any DBA names on the surety bond form. Contact the department at felicensing@difi.az.gov for guidance if you will be using Cash or Cash Alternatives in lieu of a Surety Bond.

   Submitted via: NMLS

8. Step 8

   Personal Financial Statement: (Sole Proprietors Only) Upload a completed Personal Financial Statement form into the “Document Uploads” section of the Form MU2. You must use the Arizona Personal Financial Statement form. This document should be named AZ – Personal Financial Statement.

   Submitted via: NMLS

9. Step 9

   Documentation of Citizenship or Alien Status (Sole Proprietors Only): If you are applying as a sole proprietor, Arizona requires a copy of appropriate documentation of citizenship or alien status. Please refer to A.R.S. Section 41-1080. • Upload Documentation of Citizenship or Alien Status into the NMLS under the Document Type “Legal Name/Status Documentation” in the “Document Uploads” section of the Form MU2. A driver’s license from the following states WILL NOT satisfy this requirement: California, Colorado, Connecticut, Delaware, District of Columbia, Hawaii, Illinois, Maryland, New Mexico, New York, Nevada, Utah, Vermont, and Washington.

   Submitted via: NMLS

10. Step 10

    Business Plan: • Upload a Business Plan under “Business Plan”in the “Document Uploads” section of the Form MU1. This document should be named [Company Legal Name] Business Plan. • The business plan must include: marketing strategies, products, target markets, and the operating structure that the applicant intends to employ. If an existing uploaded business plan already includes the above information, an additional document does not need to be uploaded. A company should only upload a single business plan. If state-specific material is required, this information should be added to the existing uploaded business plan.

    Submitted via: NMLS

11. Step 11

    Management Chart: • Upload a Management Chart under “Management Chart” in the “Document Uploads” section of the Form MU1. This document should be named [Company Legal Name] Management Chart. • The management chart must include a chart displaying the applicant’s divisions, officers, and managers (individual name and title). It must also identify compliance reporting and internal audit structure. If the existing uploaded management chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

    Submitted via: NMLS

12. Step 12

    Organizational Chart/Description: • Upload an Organizational Chart under “Organizational Chart/Description” in the “Document Uploads” section of the Form MU1. This document should be named [Company Legal Name] Organizational Chart – Description. • The organizational chart must include a chart showing (or a description which includes) the percentage of ownership of Direct Owners and Indirect Owners as well as Subsidiaries and Affiliates of the applicant. If the existing uploaded Organizational Chart/Description already includes the above information, an additional document does not need to be uploaded.

    Submitted via: NMLS

13. Step 13

    Resident/Registered Agent: Add the information currently on record with Arizona Corporation Commissionin the “Resident/Registered Agent” section of the Form MU1.

    Submitted via: NMLS

14. Step 14

    Financial Statements: Net Worth Requirement: $100,000.00 at all times • Upload the most current CPA Audited Financial Statement on the applicant or that of the applicant’s parent company that has been prepared by an independent certified public accountant in accordance with generally accepted accounting principles under the Filing tab “Financial Statement” submenu. The CPA must include all of the following in the audited financial statements package: 1. The certified public accountant’s opinion as to the fairness of the presentation in conformity with GAAP. 2. A balance sheet prepared within the previous six months and certified by the applicant. 3. A statement of operations and retained earnings and a statement of changes in financial position. 4. Notes to the financial statement, if applicable. If the CPA Audited Financial Statement is older than 6 months, the department requires a current, Unaudited Balance Statement and Profit & Loss Statement in addition to the most current audited financials. OR If the applicant’s own resources are derived exclusively from correspondent contracts with institutional investors: • Upload, in PDF format, the most current financial statement or that of the applicant’s parent company prepared according to generally accepted accounting principles, under the Filing tab “Financial Statement” submenu, including: 1. A balance sheet prepared within the immediately preceding six months and certified by the applicant. 2. If the applicant has begun operations, a statement of operations and retained earnings and a statement of changes in financial position. 3. Notes to the financial statement, if applicable.

    Submitted via: NMLS

15. Step 15

    Notice to Applicants (Effective July 3, 2015): In accordance with ARS § 41-1030: • An agency shall not base a licensing decision in whole or in part on a licensing requirement or condition that is not specifically authorized by this statute, rule or state tribal gaming compact. A general grant of authority in statute does not constitute a basis for imposing a licensing requirement or condition unless a rule is made pursuant to that general grant of authority that specifically authorizes the requirement or condition. • This statute may be enforced in a private civil action and relief may be awarded against the state. The court may award reasonable attorney fees, damages and all fees associated with the license application to a party that prevails in an action against the state for a violation of this section. • A state employee may not intentionally or knowingly violate this statute. A violation of this statute is cause for disciplinary action or dismissal pursuant to the agency's adopted personnel policy.NOTE: This statute does not abrogate the immunity provided by ARS § 12-820.01 or ARS § 12-820.02.

16. Step 16

    AZ Application Fee: $1,000 AZ Prorated License Fee: If you apply in Your prorated license fee will be Jan/Feb/Mar $1,250 April/May/June $937.50 July/Aug/Sept $625 Oct 312.50 Nov/Dec $1562.50 (includes renewal fee for next year) NMLS Processing Fee: $120

    Submitted via: NMLS

General information

Other Arizona mortgage licenses

• Commercial Mortgage Banker Branch License
• Commercial Mortgage Broker Branch License
• Commercial Mortgage Broker License
• Escrow Agent Branch License
• Escrow Agent License
• Loan Originator License
• All 12 Arizona licenses

Sourced from the NMLS/CSBS state licensing record, last updated August 5, 2026. Requirements change — confirm against the state agency before filing. Not legal advice.