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The Arizona Department of Financial Institutions regulates and supervises Mortgage Originator and Broker Licenses in Arizona. The department's goals focus on supporting and protecting the end consumer without impeding on the business activity of the Mortgage Brokers any more than necessary.

All Arizona mortgage licenses are handled through the National Mortgage Licensing System. Prelicensing requirements include approved courses that are 20 or more hours and contain 3 hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus 12 or more hours of electives. This may be in addition to Arizona-required content.A minimum of eight hours per year of continuing education is required nationally per year, per the SAFE act.

The licensing fee for NMLS for Loan Originators is $350. The licensing fee for a broker is $1500. Click on the links in the preceding sentences for more details about each license.

A physical office in Arizona is required for all Mortgage Brokers and the person responsible for the office must be a qualified Arizona resident. The state does not make any exceptions on this law.

All Mortgage Brokers must be Arizona residents, both when they apply and during the full term of their license.  A continuous Surety Bond, issued by a surety company authorized to do business in Arizona, is also required. A $10,000 Surety Bond is required when investors are solely institutional investors, and $15,000 if there are any non-institutional investors.

Other requirements for those seeking a Mortgage Broker career in Arizona: experience in the mortgage lending business for at least three out of the last five years, a personal history statement including financial statements, plus copies of any Mortgage Broker licenses one might have with other states. If you have more than five of these Mortgage Broker licenses, you only need to include copies of five. An additional license fee is prorated by Arizona state after the license is approved.

The Arizona Association of Mortgage Brokers (AAMB), is an affiliate of the National Mortgage Brokers Association (NAMB) . The AAMB promotes the highest degree of professionalism for those in a Mortgage Broker career and is a true asset and resource for those want to become a Mortgage Broker in Arizona.

Arizona Mortgage Forms	Arizona Reciprocity States
Most mortgage forms can be obtained online. Ones listed below pertain to new salespersons and brokers. Loan Originator Testing Information Loan Originator Education (Course Providers and Course Listing)	N/A (as of 2/23/2010)
Arizona Approved Mortgage Schools Prelicensing and Postlicensing Education
Community Colleges N/A	Private Schools Arizona Academy of Real Estate  (Sun City) Arizona School of Real Estate, Inc. (Scottsdale) Brodsky School of Real Estate (Tucson) Hogan School of Real Estate, Inc. (Tucson) Institute of Mortgage and Real Estate Education, Inc.   (Phoenix) Professional Institute of Real Estate (Scottsdale) Arizona Mortgage Lenders Association (Peoria) Arizona Association of Mortgage Brokers (Peoria)
Last Update:  2/22/2010 This list may not include all approved schools. Please visit the Arizona Department of Financial Institutions website for the latest list of approved schools.

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