New York Mortgage License Requirements
Learn about the New York mortgage education requirements for mortgage licensing.
Please contact the New York State Department of Financial Services for specific requirements for this state, but generally mortgage loan originators are required to:
- Complete a Criminal Background Check (CBC).
- Authorize a credit report through the NMLS.
- Fulfill all state and federal education requirements as designated by your state agency.
- Take and pass a National Test.
New York NMLS Pre-License Education Requirements:
New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:
- 3 hours of federal law
- 3 hours of ethics
- 2 hours of non-traditional mortgage lending
- 9 hours of electives
- 3 hours of New York state-specific education
Learn more about how to become an MLO in New York
New York Continuing Education Requirements:
State-licensed MLOs are required to complete 11 hours of NMLS-approved education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:
- 3 hours of federal law
- 2 hours of ethics
- 2 hours of non-traditional mortgage lending
- 1 hour of electives
- 3 hours of New York state-specific education
Note: NY-DFI will not accept any hours of other state-specific education to count towards the 1 hour of elective. MLOs are advised to complete either an 11 hour NY Comprehensive course or an 8 hour Comprehensive course and a 3 hour NY elective course.
MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.
New York Mortgage Licensing:
- New York State Department of Financial Services
- Phone: 800-342-3736
- Email: MLO@dfs.ny.gov
- Website: www.dfs.ny.gov
NMLS Resources:
- New York MLO License Description Page
- Professional Standards: Mortgage Education
- Professional Standards: Criminal Background Check
- Professional Standards: Credit Report
- Professional Standards: Testing
