Uniform Mortgage Broker Form
This registration is required to engage in the mortgage loan business.Overview
Registration required to engage in the business of soliciting, processing, placing or negotiating mortgage loans for others, or offering to solicit, process, place or negotiate mortgage loans for others on 1-4 family owner occupied residential property located in the State of New York.
Prerequisites
1. Agency: State, Department of; Permit: Real Estate Broker License2. Agency: Appellate Division of Supreme Court for New York State; Permit: Certificate of Good Standing for Attorneys
Requirements
1. Professional License, Sometimes Required2. Character References, Always Required
3. Bonding, Sometimes Required
4. Proof of Training/Experience, Always Required
5. Financial Information, Always Required
6. Formal Educational Information, Always Required
7. Personal Background Information, Always Required
8. Fingerprints,Always Required
9. Minimum of 2 year experience in residential mortgage lending/brokerage. ; Always Required
How to Apply
1. See form below.
Form(s)
| NAME | FORM NUMBER | FORM AND INSTRUCTIONS AVAILABLE |
|---|---|---|
| Uniform Mortgage lender/Mortgage Broker Form, Uniform Mortgage Biographical Statement and Consent Form | Application Information | Application Registration |
Required Fees
| TYPE | REFUNDABLE | AMOUNT | COMMENTS |
|---|---|---|---|
| Application/Investigation | No | $1500 | Original and Change of Control |
| Fingerprints | No | $102 | Fee is for both DCJS and FBI processing. Fee payable to L-1 Enrollment Services. |
Payment Options:
Visa or MasterCard ; ACH paymentsDuration & Processing
| Average Processing Time: | 90 Days |
|---|---|
| Term/Duration: | Annual |
| Renewable: | Yes - Registration expires January 15 in any given year if annual fee unpaid. |
| Automatically Sent: | No - Billing sent November 15 every year for next year. |
| Additional Info: | Grace Period: Yes - Reinstatement without reapplication possible up to March 15. Late Penalty: Yes - $100 late fee |
Common Denial Reasons: Criminal record ; Lack of qualifying experience
Additional Info
1. Bonding is a surety bond in an amount not less than $10,000 nor more than $100,000.2. Permit/license must be posted
For additional information/Sponsor Agency:
Find Assistance
Check out our FAQs, Helpful Links or visit our Contact Us page.
Find Incentives and Support
You are not alone. Find ways New York State can help you grow.