RE Guide
NY

New York MLO License

Mortgage Loan Originator requirements for New York

20 hrs
Pre-License Hours
$456
Total Fees
8-16 wks
Timeline
8 hrs
CE Annually

NMLS Required: All New York MLO applications must be submitted through the Nationwide Multistate Licensing System (NMLS).

1

Pre-Licensing Education

Complete 20 hours of NMLS-approved pre-licensing education. including 3 hours of New York-specific content.

Required Courses (20 hours total):

  • • 3 hours federal law and regulations
  • • 3 hours ethics (fraud, consumer protection, fair lending)
  • • 2 hours nontraditional mortgage products
  • • 9 hours electives
  • • 3 hours New York-specific content

Bond based on volume

2

SAFE MLO Exam

National Component

115 scored questions + 5 unscored (3 hours 10 minutes)

State Component

National Component with Uniform State Content (UST)

Passing Score

75% on national test with UST component

Exam Fee

$110

Retake Policy: 30-day wait after 1st/2nd failure; 180-day wait after 3rd failure

3

Background & Credit Check

Criminal Background

FBI criminal background check via fingerprinting through IdentoGO

Credit Report

Required

Background Check Cost

$39

Credit Report Cost

$15

Credit report pulled by NMLS. Must demonstrate financial responsibility.

4

Company Sponsorship

Must be employed by or an independent contractor of an 'originating entity' (licensed mortgage banker or registered mortgage broker)

Applicants are prohibited from engaging in mortgage loan origination activities until authorized by DFS.

Fee Breakdown

NMLS Processing Fee $30
State License Fee $262
Examination Fee $110
Background Check $39
Credit Report $15
Total Fees $456

Does not include pre-licensing education costs ($200-$400) or surety bond premium. New York has higher fees than most states.

Annual Renewal

Renewal Period

Expires December 31 annually

Renewal Fee

$254

CE Required

8 hours annually

Online Renewal

Yes (via NMLS)

8 hours annually: 3 hrs federal law, 2 hrs ethics, 2 hrs nontraditional lending, 1 hr elective. Must be NMLS-approved.

New York Department of Financial Services

Apply via NMLS

All MLO applications are submitted through the NMLS portal.

Go to NMLS

Helpful Tools

Last verified: 2026-01-12

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