The following information is required for obtaining a New York State Mortgage Broker License:

• Submit a complete and signed application along with non-refundable application fee and fingerprint processing fee as well as relevant documents to the department.
• The applicant must have a minimum of 2 years verifiable experience in the mortgage field, as an originator, processor or similar position or experience in credit analysis or loan underwriting. A sworn, notarized affidavit, under penalty of perjury, detailing the duties and responsibilities of your employment, term of employment; and name, address and telephone number of a business reference or your current or former supervisor must be submitted.
• If the applicant is currently employed in the mortgage industry, he/she is required to submit a letter addressed to the New York State Banking Department confirming their intention to resign upon notification of approval of their mortgage broker license.
• The department might require a list of the mortgage lenders, attorneys or consumers that the applicant transacted business with, in order to verify the applicant's experience with them.
• Foreign corporations or foreign limited liability companies must first apply to the New York Secretary of State before applying for mortgage broker license.
• Submit copies of filing receipt as well as Certificate of Good Standing from the Secretary of State, if applicable.
• Submit a signed and notarized litigation affidavit along with your application.
• Applicants must submit evidence of appropriate worker's compensation (WCL Section 57) and disability insurance coverage (Section 220 Subd. 8 of the Disability Law).
• The applicant must provide a list of the 3 most utilized mortgage lenders the applicant is using or intend to use. Mortgage lenders may be banks, New York State licensed mortgage bankers, exempt lenders, and so on.
• Each officer who participates or has authority to participate in major policy-making functions, each director and each owner of 10% or more of the business must include fingerprint cards along with the application.
• Submit a New York State Banking Department Questionnaire along with the application.
• The applicants are required to submit a recent original credit report for all owners, directors & executive officers.
• The minimum amount of the Surety Bond or Pledged Deposit is set at $10,000.

Online forms and applications can be downloaded at Applications - Mortgage Banker & Broker Entities.

For more information, visit State of New York Banking Department