The annual renewal period for the Arizona Loan Originator License is approaching. All Arizona licensed loan originators in any of the following statuses: Approved, Approved-Deficient, and Approved-Inactive, must requests renewal through NMLS. The renewal period is from 11/01/2011 through 12/31/2011. On 01/01/2012, any licensed loan originator who did not request renewal and provide the required fees and documents, will have their status changed to Suspended. In a Suspended status you can not originate Arizona loans. On 02/01/2012, your license will expire if a Suspended loan originator did not request renewal and provide the required fees and documents. If you license is expired, you will have to apply for a new loan originator license in order to originate loans secured by Arizona real estate. Click here for directions for renewal
The following are the renewal requirements for the Arizona Loan Originator License and must be attached to the Renewal Fee Form, click here for form
- Provide the $150 renewal fee payable to AzDFI. A $25.00 per calendar day late fee needs to be included if you request renewal after 12/31/2011.
- Provide either a copy of your employers Loan Originator Surety Bond or a $100 check payable to AzDFI to be deposited in the Loan Originator Recovery Fund.
- Loan Originators must complete 8 hours of NMLS approved Continuing Education (CE) courses that include 1 hour of Arizona real estate and mortgage lending law unless they took their 20 hour Pre-Licensing Education (PE) in 2011. You must register for these courses from the NMLS Resource page.
If you have any questions please contact the Arizona Loan Originator staff by phone at (602) 771-2800 Option 1 or send your questions via e-mail to Chris Dunshee at cdunshee@azdfi.gov |