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Mortgage licensing / New York

New York Mortgage Loan Originator License

individual licence · NMLS NYORIGINATOR_I · DFS

Authorizes individuals to engage in mortgage loan origination activities

Requirements (12)

  1. Step 1

    Company Sponsorship: A sponsorship request must be submitted by your employer. New York Banking Law requires all applicants for a Mortgage Loan Originator License to be affiliated through an employment or independent contractor relationship with a New York regulated entity. Applicants can submit an application for licensing prior to establishing an affiliation with a New York regulated entity. The Department will process applications without sponsorship. However, as part of the processing of the application, the Department will notify each applicant of the requirement to be sponsored by a New York regulated entity. Within 30 days of the date of such notification, the applicant will be required to: • Become affiliated with a New York regulated entity. • Update the MU4 application form with the date of employment and the name and address of the sponsoring entity and specific work location The sponsoring entity is required to process a sponsorship request through the NMLS within 30 days of the date of the notification and assign the applicant to a New York licensed principal or branch office. Note: Assigned Work Location: must be in the Continental United States, licensed by the Department and within commutable distance of no more than 50 miles or 2 hours, whichever is less, from the applicant’s primary residence. Temporary Authority: Temporary Authority will not be granted to applicants assigned to work at locations which are not licensed by the Department. A Notice of Intent to Deny will be issued by the Department to such applicants. Note: MLO applications without sponsorship are deemed incomplete. Such applications will not be published in the Department’s Weekly Bulletin until the MLO becomes affiliated with a New York regulated entity. Upon publication in the Weekly Bulletin, the application is subject to the standard 30-day comment period and will not be approved until such comment period expires.

    Submitted via: NMLS

  2. Step 2

    Employment History: The business address listed in the Employment section of the Individual Form (MU4) must match the address of the registered location in the Company Relationship. Employment date for current sponsors must accurately reflect the date you were hired by the sponsoring company, irrespective of whether you function as a mortgage loan originator.

    Submitted via: NMLS

  3. Step 3

    Credit Report Explanations: An applicant with a credit report that includes derogatory information will be required to provide an explanation, including, but not limited to: (1) relevant payoff or satisfaction letters from creditors and/or collection agencies evidencing payment of outstanding obligations or an existing repayment plan, (2) relevant tax lien releases or satisfaction notices or an existing repayment plan, (3) a lender short sale approval letter, (4) lender’s acknowledgement of the receipt of a loan modification application or loan modification approval, (5) bankruptcy discharge documents, (6) court order(s) vacating outstanding judgments, (7) documentation supporting a medical condition and its financial impact on the individual, (8) documentation demonstrating identity theft and its financial impact on the individual, and (9) a child support enforcement balance and arrears statement or letter. Note: The Department grants new applicants 90 days to provide supporting credit related documentation.

    Submitted via: Upload in NMLS: Upload document in NMLS in the Agency Guidance section under Document Type Credit Report Explanations. OR MAIL TO; New York State Department of Financial Services, MLO Unit, One State Street, New York, NY 10004

  4. Step 4

    State Criminal Background Check: Each applicant must submit fingerprints for State criminal background check. Note: Applicants that fail to complete the New York State jurisdiction specific criminal background check process have not completed the application process. For applicants that fail to demonstrate compliance with New York Criminal Background check requirements within five (5) day of filing the MU4, the Department will Issue an Intent to Deny. Detailed instructions regarding the State fingerprint process, including procedures and forms, are posted on the Department's website Note: Rolled fingerprints will only be accepted from law enforcement and government agencies. Originating entities are encouraged to submit email requests for blank fingerprint cards to: fingerprintrequest@dfs.ny.gov Failure to submit the receipt documenting compliance within State Criminal Background Check requirements within 30 days of filing your application will result in the withdrawal of your application.

    Submitted via: MAIL TO: New York State Department of Financial Services, MLO Unit, One State Street, New York, NY 10004

  5. Step 5

    Applicant Notification and Acknowledgement – NYDFS Privacy Act Statement: Effective March 9, 2020, every individual submitting fingerprints for processing using Live Scan or fingerprint cards must review and acknowledge receipt of the FBI Privacy Act Statement, Noncriminal Justice Applicant’s Privacy Rights and Applicant Notification and Acknowledgement-NYDFS Privacy Act Statement. The completed Applicant Notification and Acknowledgement – NYDFS Privacy Act Statement must be signed, dated and submitted to the Department. Note: the form must be submitted within 10 days of filing the application through NMLS. Click here for Privacy Act Statement

    Submitted via: MAIL TO: New York State Department of Financial Services, MLO Unit, One State Street, New York, NY 10004

  6. Step 6

    Proof of Identification: Each applicant must submit proof of identification. The following types of unexpired photo identification are acceptable: • Driver’s License issued by a State or U.S. territory • Non-driver Photo ID Card issued by a Federal, State or local government agency or by a Territory of the United States. The ID must bear the seal or logo of the state or federal agency. • U.S. Passport or Passport Card • Certificate of Naturalization or Alien Registration Card Photocopies of identification must be in black and white on standard 8.5” x 11” white paper. All information including the photograph must be clear enough to see and read (legible).

    Submitted via: MAIL TO: New York State Department of Financial Services, MLO Unit, One State Street, New York, NY 10004

  7. Step 7

    Affirmation: Within five (5) days of the submission of the MU4, provide an original, signed affirmation form certifying that the application does not contain any untrue statement or omission of material facts and that the applicant will immediately notify the Superintendent of any changes to the information furnished in the application. Click here to access the MLO Affirmation Form

    Submitted via: MAIL TO: New York State Department of Financial Services, MLO Unit, One State Street, New York, NY 10004

  8. Step 8

    Evidence of Authorization to Work in U.S.: Individuals born outside of the United States must provide evidence of authority to work in the U.S. (e.g., permanent resident alien card, naturalization certificate, U.S. passport, or appropriate immigration authorization).

    Submitted via: EMAIL TO: MBELECTRONIC@dfs.ny.gov OR MAIL TO: New York State Department of Financial Services, MLO Unit, One State Street, New York, NY 10004

  9. Step 9

    Other License Information: If you have a license to practice any profession, please provide details regarding the nature of license, date issued, license number, and licensing agency. Lawyers must submit an original certificate of good standing. Also, provide details regarding any refusal to issue license(s) or the revocation or suspension of license(s), registration(s), or authorization(s) in this or any other state.

    Submitted via: MAIL TO: New York State Department of Financial Services, MLO Unit, One State Street, New York, NY 10004

  10. Step 10

    Garnishment of Wages: Provide information relating to any garnishment of wages or salary.

    Submitted via: EMAIL TO: MBELECTRONIC@dfs.ny.gov Or MAIL TO: New York State Department of Financial Services, MLO Unit, One State Street, New York, NY 10004

  11. Step 11

    Surety Bond and Surety Bond Certification Form: Pursuant to Part 420.15 of the Superintendent's Regulations (3 NYCRR 420.15) all mortgage loan originators must be covered by a mortgage loan originator surety bond in order to be licensed. Note: Applicants should consult the licensing manager for the sponsoring entity to determine whether the entity intends to cover the applicant under the Originating Entity Mortgage Loan Originator surety bond. Documentation evidencing coverage - applicants must submit: • an original (i.e., with raised seal) Individual Mortgage Loan Originator surety bond furnished by a surety company authorized to conduct business in New York along with an original Surety Bond Certification Form, or • a Certification Form from the sponsoring entity indicating that the applicant is covered by Originating Entity Mortgage Loan Originator Surety bond. Note: Applicants eligible to operate under Temporary Authority must be covered by an Originating Entity Surety Bond on the first day Temporary Authority is granted. If the Originating Entity Surety Bond is insufficient to cover the applicant, the Department will issue a Notice of Intent to Deny. MLOs who will not be covered by an Originating Entity surety bond must submit an Individual Mortgage Loan Originator surety bond Click here to access Surety Bond forms and Instructions Note: For an "Individual Mortgage Loan Originator" surety bond, the name of the principal insured on the bond must match exactly the full legal name of the applicant as listed on the MU4 form filed through NMLS.

    Submitted via: MAIL TO: New York State Department of Financial Services, MLO Unit, One State Street, New York, NY 10004

  12. Step 12

    Disclosure Questions: Provide an explanation and if applicable, supporting documents for each "Yes" response.

    Submitted via: MAIL TO: New York State Department of Financial Services, MLO Unit, One State Street, New York, NY 10004

General information

Who Is Required To Have This License? 1. Any individual who for compensation or gain or in the expectation of compensation or gain: (a) Takes a residential mortgage loan application; or (b) Offers or negotiates terms of a residential mortgage loan 2. Independent Contractor Processors and employees of Independent Contractor Processor company engaged in processing loans on 1-4 family residential property located in New York 3. Independent Contractor Underwriters and employees of Independent Contractor Underwriters engaged in underwriting activities for loans on 1-4 family residential property located in New York. 4. Individuals employed by Credit Union Service Organizations (CUSOs) that engage in mortgage loan origination activities on 1-4 family residential property located in New York. 5. Mortgage loan originators employed by non-federally insured credit unions, whose states have not executed a supervisory agreement with the NCUA, must submit an application for licensing under Article 12-E. 6. Qualifying Individual designated by mortgage banker or mortgage broker to serve as the Qualifying Individual for the company's mortgage banker license or mortgage broker registration Section 599-b(8) of Article 12-E defines “Residential Mortgage Loan” as a loan to a natural person made primarily for personal, family or household use, secured by either a mortgage, deed of trust or other equivalent consensual security interest on a dwelling (as defined in section 1203(v) of the Truth in Lending Act) or residential real property or any certificate of stock or other evidence of ownership in, and proprietary lease from, a corporation or partnership formed for the purpose of cooperative ownership of residential real property and shall include any refinance or modification of any such existing loan. New York Department of Financial Services (“the Department”) issues paper licenses for this license type. Submitting an Application The checklist below provides instructions and requirements for submitting an application, including which items must be entered or uploaded to the NMLS, as well as those documents for which originals must be mailed to the Department. Note: For applicants that have not submitted evidence of completion of the New York criminal background check within five (5) days of the electronic submission of the MU4 through NMLS, the Department will issue a Notice of Intent to Deny. Weekly Bulletin Publication The Department publishes applications deemed complete in the Department’s Weekly Bulletin every Friday. The publication of an application in the Department’s Weekly Bulletin does not limit the agency’s ability to request additional documents or information to facilitate final processing of an application. The Weekly Bulletin can be accessed via the following link: https://www.dfs.ny.gov/reports_and_publications/weekly_bulletins. Incomplete Applications If an application is determined to be incomplete, the applicant will receive a written notice identifying the items and matters that must be addressed for the Department to continue the application review process. If a complete response fully addressing all such items and matters to the satisfaction of the Department is not received within 30 days of such notice, the application will be considered withdrawn. Any applicant seeking a license following the withdrawal of an application must submit a new application that must include all required information, documents, and fees. Note: Applicants that fail to complete the New York State jurisdiction specific criminal background check process have not completed the application process. Approval or Denial After the application has been processed, the applicants NMLS record will be updated to reflect the approval or denial of the application. Note: The NMLS status for approved applications will be updated to “Approved-Conditional.” If the application is denied, the MLO will receive written notification of denial and the NMLS status will be updated to “Denied.” A notification of denial will also be mailed to the sponsoring entity. Approvals and Denials are published in the Department’s Weekly Bulletin. Pre-licensure Education: Prior to submission of the application, complete at least 20 hours of NMLS-approved pre-licensure education (PE) courses which must include 3 hours of New York content. Note: New York Jurisdiction specific education taken as part of Pre-licensure education (PE), cannot be older than three (3) years from the date of application. The Department reserves the right to verify that PE course work taken by applicants complied with the requirements of 3 NYCRR 420.11 Testing: Must satisfy one of the following three conditions: • Passing results on both the National and New York State components of the SAFE Test, or • Passing results on both the National and Stand-alone UST components of the SAFE Test, or • Passing results on the National Test Component with Uniform State Content Additional New York Requirements for Mortgage Loan Originators • Assigned Work Location: must be in the Continental United States, licensed by the Department and within commutable distance of no more than 50 miles or 2 hours, whichever is less, from the applicant’s primary residence. • Temporary Authority: Temporary Authority will not be granted to applicants assigned to work at locations which are not licensed by the Department. A Notice of Intent to Deny will be issued by the Department to such applicants. Contact: For inquiries regarding mortgage loan originator applications, please contact New York State Department of Financial Services licensing staff via email at MLO@dfs.ny.gov

Other New York mortgage licenses

Sourced from the NMLS/CSBS state licensing record, last updated August 29, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.

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