The State of New York Banking Department, supervises and regulates all Mortgage Brokers working within the State.  Offices are located in New York City.

All New York 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 New York-required content. Continuing Education Requirements include at least eight hours of NMLS approved instruction.

The licensing fee for NMLS for Loan Originators is $319, and the fee for Mortgage Broker is $1,500.  Click on the link in the preceding sentence for more details about each license.

Applicants looking to become a Mortgage Broker in New York must submit a Surety Bond in the amount of  $10,000.

Applicants also need to provide a notarized statement containing all experience that qualifies them to be licensed, plus recent original Credit Reports. References with complete addresses need to be provided from all professional and personal references. Submit a list of the three most utilized lenders you are using or intend to use in originating loans.

If the Mortgage Broker plans on conducting business with a web site, full information needs to be furnished to the Department of Banking.

The New York Association of Mortgage Brokers (NYAMB), was created in 1986 and is an affiliate of the National Association of Mortgage Brokers (NAMB). These organizations provide excellent real estate mortgage loan resources for those who want to obtain a Mortgage Broker License in New York and those already licensed.

New York Mortgage Forms

New York Reciprocity States


(as of 2/23/2010)

New York Approved Mortgage Schools Prelicensing and Postlicensing Education

Community Colleges

Private Schools
Abacus Mortgage Training
Training Pro
Last Update:  2/22/2010
This list may not include all approved schools. Please visit the Banking Department website for the latest list of approved schools.