Mortgage Loan Originator License in New York
Quick Answer
New York requires MLOs to be employed by a licensed mortgage company, complete 20 hours of NMLS education, pass the SAFE MLO Test, and register through the Department of Financial Services via NMLS.
- Education Required
- 20 hours
- Exam
- NMLS SAFE MLO Test
- Timeline
- 1-3 months
- Background Check
- Required
- Renewal
- Every Annually (December 31)
Requirements
Mortgage Loan Originator license in New York
Mortgage Loan Originator Salary in New York
Entry Level
$49,240
Median
$98,940
Experienced
$217,490
Source: Bureau of Labor Statistics. Salary data is for informational purposes only.
How to Get Licensed
Step-by-step roadmap to becoming a licensed Mortgage Loan Originator in New York.
- 1
Complete Education Requirements
Specific course required
- 2
Submit Background Check
No criminal record prohibitions
- 3
Pass the Required Exam
Third-party exam required — NMLS SAFE MLO Test
- 4
Submit Your Application
File your application with the licensing agency.
- 5
Receive Your License
Processing typically takes 1-3 months.
Mortgage Loan Originator Licensing in New York: What to Know
New York licenses mortgage loan originators through the Department of Financial Services (DFS). The COS listing confirms specific coursework and a third-party exam are required. MLOs in New York must be employed by a federal or state banking institution, a licensed mortgage banker, or a registered mortgage broker to take residential mortgage loan applications for 1-4 family properties located in New York. Under the SAFE Act, applicants must complete 20 hours of NMLS-approved pre-licensing education, pass the NMLS SAFE MLO Test, and submit to a background check. New York processes MLO registrations through the NMLS system.
Frequently Asked Questions
- How long does it take to get a Mortgage Loan Originator license in New York?
- The process typically takes 1-3 months, depending on education completion and exam scheduling.
- What exam do I need for a Mortgage Loan Originator license in New York?
- You need to pass the NMLS SAFE MLO Test. Third-party exam required
Considering another state?
Compare Mortgage Loan Originator requirements across states.
View all states →Data from CareerOneStop (DOLETA/DEED). Last updated: February 15, 2026.