Washington State Department of Financial Institutions

Mortgage Broker
License Renewals

All Mortgage Broker licenses must be renewed on or before December 31, 2009. DFI strongly encourages submission of renewal requests by December 1, 2009 to allow enough processing time. Renewal requests must be submitted through the Nationwide Mortgage Licensing System (NMLS).

Looking for Mortgage Loan Originator renewal information? Please visit the Mortgage Loan Originator License Renewal webpage.

Presentation from November 9, 2009 Webinar

The PowerPoint presentation file used during the November 9 Mortgage Broker and Loan Originator renewal requirements webinar has been posted for your convenience.

Report Your Continuing Education to DFI

Renewal Steps

Follow these steps to renew a Mortgage Broker license:

  1. Attestation & Renewal Submission
    Log into your NMLS account and attest to your company record. Once your record is attested to, a renewal request can be submitted in the NMLS. This involves paying the renewal fees via credit card or ACH.
  2. Designated Broker Registration
    The company’s Designated Broker must resubmit their MU4 under the new Designated Broker Registration with the company submitting sponsorship for that registration.
  3. The Designated Brokers Who Wish To Originate
    If the company’s Designated Broker wishes to originate loans, they must also submit their MU4 under the Loan Originator license type (this is in addition to submitting the MU4 under the Designated Broker Registration). The company must also submit sponsorship for the LO license (this is in addition to sponsoring the Designated Broker Registration).
  4. Continuing Education
    After submitting a renewal request, Standard DB licensees must report their education via DFI's Online Reporting System. Interim DB licensees or those who completed 20 hours of NMLS approved pre-licensing education will have their education reported directly to the NMLS.
  5. Renewed License
    Once DFI approves the company’s renewal, a 2010 license will be emailed to the address on the NMLS record. This is the only copy of the license which you will receive so be sure to print it out for posting in the office.

Need further assistance? The NMLS Renewals Quick Guide (PDF)* outlines the steps for renewing your license on the NMLS. The NMLS Call Center is also available at (240) 386-4444.

Tips for a Successful Renewal

Frequently Asked Questions

What does it cost to renew a Mortgage Broker License?
The cost to renew a Mortgage Broker main office license on or before December 31st is $630 which includes the NMLS $100 system fee. The cost to renew a Mortgage Broker branch office license on or before December 31st is $550 which includes the NMLS $20 system fee.

What is Washington Continuing Education requirement?
The continuing education requirement for Designated Brokers depends on which type of DB license you hold. Standard DB licensees must complete 3 courses of at least 3 hours each of DFI approved education. Interim DB licensees must complete 20 hours of NMLS approved education.

Are there specific Continuing Education courses which must be taken?
If you hold a Standard DB license and are in your first year of licensure as a DB, you must take courses from DFI’s list of approved courses and 1 course must be in ethics. If you hold an Interim DB license, you must take NMLS approved courses. The 20 hours of NMLS approved education must include courses in certain topics. Please see the NMLS Education Overview (PDF)* for more information.

What is the deadline for renewing my license?
All Mortgage Broker licenses expire December 31, 2009. On or prior to that date, you must submit the company’s renewal request along with completing the new Designated Broker Registration requirements (see above) through the NMLS and provide DFI with your Designated Broker’s continuing education. Note: The NMLS website will be available on December 31, 2009 until about 8:59pm, not until midnight.

Who can help if I forgot my password to the NMLS?
If you are an individual and you know your user name, there is a “Forgot Password” option on the NMLS login screen. If you do not know your user name, you must contact the NMLS Call Center. You can reach them at (240) 386-4444.

Who can I call for help navigating the renewal system in the NMLS?
The NMLS Call Center is available Monday-Friday from 6am-3pm. Their phone number is (240) 386-4444.

What happens if I do not renew my license by December 31, 2009?
Your license will expire which means your company will no longer be able to act as a mortgage broker in Washington. Licenses can be renewed late until February 28, 2010, but they will be subject to a late fee.

What does it cost to renew a Mortgage Broker License late (between January 1st and February 28th)?
The cost to renew a Mortgage Broker main office license late is $895 which includes the NMLS $100 system fee. The cost to renew a Mortgage Broker branch office license late is $815 which includes the NMLS $20 system fee.

* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.

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