All Mortgage Broker licenses and Designated Broker Registrations* must be renewed each calendar year. The renewal period opens November 1. The deadline to submit a renewal is December 15.
Before You Renew
Complete the steps below prior to renewing to ensure renewal compliance
- Verify user name and password by logging into NMLS
- Resolve outstanding license items; license items will delay your renewal
- Ensure all Mortgage Call Report (MCR) filings are current and if you are able to, file your Q3 report now; standard MCR filers must also be current on Financial Conditions
- Review company and branch records for accuracy; the renewal attestation is a legal certification
- Finish required CE for the Designated Broker. Washington required 9 hours of NMLS approved CE, including 1 hour in Washington Law
Fees for Renewals
Below are the renewal fees for a Mortgage Broker license, including NMLS System Fees. Payments by credit card are subject to an additional processing fee. ACH payments trigger an automatic system set license item that automatically clears on the sixth business day, unless there is an issue with the payment.
|Mortgage Broker Renewal (Nov 1-Dec 31)|
|Designated Broker Registration||$30|
|Mortgage Broker Late Renewal (Jan 1-Feb 28)|
* While renewals can be submitted until 12/31, you must submit your request by 12/15 if you wish to have it reviewed before the end of the year.
The Renewal Process
Below are the steps to renew your license. Renew early!
- Verify your Designated Broker’s CE is posted to NMLS.
- Ensure Designated Broker attested to his/her record in NMLS.
- Submit a renewal request for both your Mortgage Broker license and your Designated Broker’s Registration; if your Designated Broker also holds a WA MLO license and/or your company has WA branch licenses, renew these at the same time as the Mortgage Broker license.
- Pay your renewal fees through NMLS.
Monitor your email for notifications after you submit your renewal. DFI exclusively uses license items to communicate issues preventing renewal processing.
Need further assistance? The NMLS Renewals Quick Guide outlines the steps for renewing your license on the NMLS. The NMLS Call Center is also available at 855-NMLS-123.
Frequently Asked Questions
What is Washington’s deadline to submit a Mortgage Broker renewal?
Mortgage Broker renewals must be submitted by December 15. Renewals can be submitted through December 31, however, the renewal may not be processed before the license expires.
What if my renewal isn’t approved by December 31?
Your license will expire which means you cannot act as a mortgage broker in Washington until your renewal is approved.
What does it cost to renew a Washington Mortgage Broker License?
The cost to renew a Mortgage Broker license on or before December 31 is $630 for the main office and $550 for each branch office. This includes the $530 renewal fee and the $100 NMLS System Fee for a main office. For a branch office, this includes the $530 renewal fee and the $20 NMLS System Fee.
A Mortgage Broker license must be renewed in conjunction with the Designated Broker Registration renewal. That renewal fee is $30. Credit card payments are subject to an additional processing fee.
What is Washington’s Continuing Education requirement?
Washington’s Continuing Education requirement for Designated Broker Registrants is 9 hours of NMLS approved CE, including 1 hour in Washington law.
Who can I call for help navigating the renewal system in the NMLS?
The NMLS Call Center is available Monday-Friday. Their phone number is 855-NMLS-123.
What happens if I do not renew my license by December 31?
Your license will expire which means you will no longer be able to act as a mortgage broker in Washington. Licenses can still be renewed after December 31, but they will be subject to a late fee and a Declaration of Activity.
What is the late renewal fee for a Mortgage Broker license?
If you renew your Mortgage Broker license late, the fee is $895 for the main office and $815 for each branch office. This includes the $530 renewal fee, $265 late fee and $100 NMLS System Fee for a main office. For a branch office, this includes the $530 renewal fee, $265 late fee and $20 NMLS System Fee.
I am no longer in business or wish to close one or more of my branch licenses, what steps do I need to take?
DFI appreciates licensees proactively surrendering a license rather than doing nothing and allowing the license to expire. You surrender your license by requesting surrender in NMLS and emailing the completed closure report to the Department. Branch surrenders only require the surrender in NMLS.
The following is a list of resources available to help Mortgage Brokers renew