ASREB has partnered with Learn Mortgage to offer the Responsible Individual 12 hour continuing education courses.
The Responsible Individual (RI) for Mortgage Brokers & Bankers must complete 12 hours of continuing education prior to December 31st of each calendar year.
Arizona Mortgage CE Requirement
A.R.S. 6-903(S) and 6-943(T) require that individuals licensed as Mortgage Brokers or Mortgage Bankers, and responsible individuals for business entities licensed as Mortgage Brokers or Mortgage Bankers, have 12 hours of Continuing Education to renew their license.
Under the statutes, the required continuing education units must be completed before the renewal application is submitted.
Applications must be submitted and renewal fees paid on or before December 31, 2022.
According to DIFI you MAY NOT repeat the same classes that you took for your previous renewal.
Mortgage Broker Renewal Process
The annual renewal period for licensed Mortgage Brokers, Commercial Mortgage Brokers, Mortgage Bankers and Commercial Mortgage Bankers is approaching. All Arizona licensed Mortgage Brokers, Commercial Mortgage Brokers, Mortgage Bankers and Commercial Mortgage Bankers in any of the following statuses: Approved, Approved-Deficient, Approved-Inactive or Suspended, must request renewal through NMLS.
The renewal period is from 11/01/2021 through 12/31/2021. On 01/01/2022, any licensed Mortgage Broker, Commercial Mortgage Broker, Mortgage Banker and Commercial Mortgage Banker 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 transact business in Arizona and none of your licensed Loan Originators may originate loans. On 02/01/2022, your license will expire if a Suspended loan originator did not request renewal and provide the required fees and documents. If your license is expired, you will have to apply for a new license in order to transact business in Arizona.
NMLS Streamlined Renewal Process
The NMLS Streamlined renewal process is outlined on the NMLS website.
Click here for the NMLS Resource Center website.
Renewal Deadlines & Information
Can I take the same class two years in a row?
- AZDIFI requires you to take a different class than the previous year. Which is why each year we create a new course so you don’t have to worry about repeating the same course as the year before.
Who needs the 12 hours of CE?
- A.R.S. 6-903(V) and 6-943(T) require that the Responsible Individual (RI) for Mortgage Broker & Mortgage Bankers need to complete 12hrs of CE each year by December 31st.
When does my renewal need to be submitted?
- Renewal requests must be submitted through NMLS between November 1 & December 31st.
What if I don’t renew by December 31st?
- Licenses not renewed by December 31st your license will be suspended and you will not be able to continue to act as a mortgage broker or banker.
- If all renewal steps have not been completed bon or before January 31st your license will expire.
What happens after January 31st?
- Renewing your license on time is a statutory requirement. If your licenses expire you will have to reapply for a new Arizona license(s) to continue to transact business in Arizona.
AZDIFI & NMLS Resource
– To view the full AZDIFI renewal requirements and deadlines please visit their website by clicking here.
– To view the NMLS Streamlined renewal process please visit their website by clicking here.