Arizona SAFE / Mortgage Licensing
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About The Arizona Mortgage Broker License
Looking to become an Arizona Mortgage Broker or Loan Officer to serve communities in Phoenix, Scottsdale, Mesa, Chandler, Glendale, Gilbert, Tempe, Tucson, Yuma, Flagstaff, and other cities in Arizona? If yes, you've come to the right place!
The Mortgage Training Center offers a variety of Arizona mortgage licensing and training courses to help you earn your Arizona mortgage license or Georgia continuing education credits.
How To Earn Your NMLS Mortgage License In Arizona
You earn your Arizona mortgage license by:
- Applying for an NMLS account and ID number
- Completing your NMLS pre-licensing course requirements (see recommended NMLS licensing courses below)
- Passing your SAFE licensing exam
Get started by selecting a mortgage pre-licensing course from the list below.
Recommended Arizona Mortgage Broker License Courses
Learn at your own pace with our convenient, cost-effective, state and NMLS-approved mortgage loan officer license training courses.
The Mortgage Training Center offers both online and in-person NMLS licensing and NMLS training courses in Arizona. Simply choose your preferred option from the recommended courses listed on this page, or you can choose "NMLS" and your resident state from the "Licensing" section of the search box herein. Good luck earning your Arizona brokers license!
Best-Selling Training Courses:
Instructor-Led: Webinars
Online Training Courses
Find Seminars, Webinars, And Online Training In Your Area
How To Become An Arizona Mortgage Broker: Arizona Mortgage Broker License Requirements
Applicants who wish to obtain a Mortgage Broker License in Arizona must often provide either a Surety Bond, Irrevocable Letter of Credit, audited financial statements reflecting a minimum net worth, a ten-year history of their business and employment activities, as well as a personal disclosure of any negative financial facts or criminal activity.
For details on these and other Arizona Mortgage Broker licensing requirements, go to https://nationwidelicensingsystem.org/slr/Pages/DynamicLicenses.aspx?StateID=AZ or contact:
Arizona State Banking Department
2910 N. 44th Street. Suite 310
Phoenix, AZ. 85018
602-255-4421
Fax 602-381-1225
About Mortgage Brokers In Arizona
What Does An Arizona Mortgage Broker Do?A mortgage broker is a licensed professional that acts as a middleman between lenders and purchasers. The broker works to find a mortgage lender with terms and rates that best fit the customer's needs, then going through the required processes and working with the mortgage underwriter to get the loan approved.
What Is The Difference Between A Mortgage Broker And A Mortgage Loan Officer?Basically, the Mortgage Broker is the business owner and the Mortgage Loan Officer is an employee of the Mortgage Broker. In some instances, like a single-person shop, the Mortgage Broker does the work of the Loan Officer. Bottom line, the Mortgage Broker is responsible for the work output and complying with applicable laws.
What Does A Mortgage Loan Officer Do?A Mortgage Loan Officer starts the mortgage application process by gathering from potential borrowers the information needed to start that borrower's loan review process. This includes things like W2s, 1099s, bank statements, tax returns, etc.
They are responsible for working with the borrower to complete mortgage loan application, submitting the application to underwriting, following up on any additional information needed or requested from the underwriter, then communicating the loan decision to the potential borrower.
How Do Mortgage Brokers Make Money?Mortgage brokers make money by dealing with lenders who discount the cost of their mortgage product to allow a mortgage broker the ability to charge a fee by submission of a loan package for funding. This relationship between a mortgage broker and a lender is called wholesale lending.
Disclaimer: This information provided is based on state laws and regulations, and is subject to change. While we make every effort to asure this information is current and accurate, it is not engaged in rendering legal or professional advice, and shall not be held responsible for inaccuracies contained herein.
