Note: Your NMLS Identification Number must be included on every hard-copy document submitted to the Department of Financial Services. If the information is correct click Finish. Read the final page carefully before proceeding.Verify that the information is correct and click Next.Select the New York Mortgage Loan Originator License and click Next.Select the appropriate New York License and click Next.Click Add to apply for your NY license.Check with your employer before you proceed. If you’re already employed with a mortgage company, your employer may handle this step for you.If you’re directly responsible for the paying the filing fees, click continue.Select Individual if your applying as an individual.Select the filing tab on the top of the screen.Once you completed the required pre-licensing courses and achieved passing scores on the National and any applicable state required tests, you will be able to apply for your mortgage loan originator license on the NMLS website. Passing results on the National Test Component with Uniform State Content.Passing results on both the National and Stand-alone UST components of the SAFE Test, or.Passing results on both the National and New York State components of the SAFE Test, or.NY requires at least 20 hours of pre-license education and meet one of the following three conditions: New York Department of Financial Services Regulatory authority, responsibilities and limitations.Effective 4/5/21, test details are as follows: The SAFE MLO exam covers federal mortgage related laws, ethics, Mortgage loan originator activities, and general mortgage knowledge. And don’t forget about professional development! There are dozens of topics available to help you achieve Rockstar-status in your lending career.Once you've completed your pre-license education, you'll need to schedule an appointment to take the National Test Component with Uniform State Content through your NMLS account. It is also critical to remain compliant in your licensure by fulfilling your annual mortgage continuing education. Reading industry news sites such Mortgage News Daily and Mortgage Bankers Association are great starting points. With an industry that is constantly changing, whether it be laws, emerging technologies, or economic conditions – you’ll want to stay in the know. Always Be Learning: Exercise the discipline to set aside time for continuous learning and improvement.You never know where your next referral could come from based on who you know! Even after a borrower has been serviced with a loan, it is wise to stay in touch. Network Early and Often: Effective mortgage loan originators know how to network often and develop relationships with others in the industry, such as real estate professionals.*As mentioned by National Mortgage News, top producers are approaching the purchase market by crafting distinct marketing strategies for four categories of homebuyers – move-up, first-time, move-down and refinance borrowers. Making a presence on marketing channels, such as social media, can aid with prospecting efforts, professional networking, and obtaining referrals. Maintain a Marketing Presence: Ensure advertising and marketing is part of your overall business plan.In a nutshell, always be customer-centric! Being responsive and maintaining regular communication during the loan process is key. It’s especially important to ensure your customers understand the borrowing process, so keep them in-the-know regarding steps and timelines. Focus on building great relationships with your clients every day – and create value for your borrowers in every transaction. Have a Borrower-First Mentality: When helping families, always operate as a trustworthy mortgage professional with a high degree of business ethics and best practices.They use their time efficiently to maintain productivity, stay focused and hit their targets. Effective Mortgage Loan Originators are driven to accomplish their goals. Set Goals and Focus: Set long-term goals that can be broken down into attainable micro goals.
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