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Mortgage broker licensing
New York

New York Mortgage Broker License Requirements

Understand the complete mortgage broker license requirements in New York, including education, experience, application steps, fees, and renewal process. Get licensed in NY.

By PermitByState Editorial Team · Editorial
Verified June 7, 20266 statute sources
AI-drafted, human-reviewed

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New YorkMortgage broker licensing
#25 of 50·2 state statutes cited·Above median

Quick Answer: Becoming a Licensed Mortgage Broker in New York

The New York Department of Financial Services (NYDFS) issues mortgage broker licenses under New York Banking Law, Article 12-D. The federal SAFE Act requires all mortgage loan originators (MLOs) associated with your brokerage to register through the Nationwide Multistate Licensing System (NMLS).

Here is the path to licensure:

  1. Register your company and individual MLOs in NMLS and obtain unique identifiers.
  2. Complete NMLS-approved pre-licensing education.
  3. Pass the SAFE Mortgage Loan Originator Test (National Component plus the New York State-specific component).
  4. Submit fingerprints and authorize criminal background and credit checks.
  5. Obtain a surety bond in the amount required by NYDFS.
  6. File the full company application through NMLS with all supporting documents and fees.
  7. Respond promptly to any NYDFS deficiency notices.

Realistic timeline: Straightforward applications with clean backgrounds and complete documentation typically clear in 60 to 90 days. Complex ownership structures or background issues can push that to four months or longer.

The governing statutes are New York

Sources & Verification (6)
  • Requires covered lenders to report to the department of financial services certain information on covered loans
  • Relates to establishing the banking bill of rights
  • SAFE Act (Secure and Fair Enforcement for Mortgage Licensing Act of 2008, 12 U.S.C. §5101 et seq.) — federal MLO licensing baseline; states must meet or exceed.
  • Truth in Lending Act / Regulation Z (12 CFR Part 1026) — mortgage origination disclosure, Loan Estimate, Closing Disclosure, ability-to-repay (ATR), and Qualified Mortgage rule (12 CFR §1026.43).
  • Real Estate Settlement Procedures Act / Regulation X (12 U.S.C. §2601 et seq.; 12 CFR Part 1024) — settlement disclosure, anti-kickback (Section 8), servicing rules.
  • NMLS Federal Registry — registration of MLOs employed by federally regulated depository institutions per 12 CFR §1007.

Last verified: June 7, 2026

Editorial process: See methodology →

How we verify: 9 source adapters (FAA, DSIRE, IRS, OpenStates, etc.) → AI draft → AI editor → AI polish → spot human review.

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