Mortgage Loan Originator (MLO)
All MLO licenses* must be renewed through NMLS each calendar year. The renewal period opens November 1. The deadline to submit a renewal is December 15.
Changes for 2015 Renewal
- Washington requires a new Criminal Background Check (CBC) and Credit Report for all renewals
- Some licensees’ fingerprints on NMLS are expired so new fingerprints will need to be taken
- Things To Do Before November 1
- Fees for Renewals
- The Renewal Process
- Frequently Asked Questions
- Renewal Resources
* New MLO Licenses issued on or after November 1, 2014 do not need to be renewed until the end of 2015.
Things To Do Before November 1
Complete the steps below prior to November to ensure renewal compliance.
- Log into NMLS to ensure you know your User Name and Password.
- Check for license items on your Washington license. Any unresolved license items will delay and may prevent your renewal. License Item Quick Guide (PDF)
- Authorize a new Criminal Background Check (CBC) and Credit Report. This is required for all licensees unless a CBC or Credit Report was authorized within 90 days of your renewal. MLOs with expired fingerprints on NMLS must make an appointment to be physically fingerprinted again and complete the fingerprint appointment process.
CBC Authorization Quick Guide (PDF) | Credit Report Authorization Quick Guide (PDF)
- Review your record while authorizing CBC and credit report. Make changes to ensure the record is accurate. Verify your email address in both your account and individual record. Be sure to attest and submit the filing. DFI takes this attestation seriously. Submitting incorrect information or omitting information may be grounds for enforcement action.
- Finish required Continuing Education (CE)*. Washington requires 9 hours of NMLS approved CE consisting of the 8 hour SAFE Core and an additional 1 hour in Washington law. This must be posted to your NMLS record before you can renew. Continuing Education Requirements
* MLO licensees with an initial, base 20 hours of Pre-Licensing Education completed in 2014 on their NMLS record do not need continuing education for 2015.
Fees for Renewals
Below are renewal fees for a MLO license. 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.
|On Time Renewal Request (Nov 1-Dec 15*)||$125|
|Late Renewal Request (Jan 1-Feb 28)||$187.50|
|NMLS System Fee||$30.00|
|Criminal Background Check (CBC) – Live Scan||$36.25|
|Continuing Education (CE)||Prices Vary|
* While renewals can be submitted until 12/31/14, you must submit your request by 12/15/14 if you wish to have it reviewed before Dec 31.
The Renewal Process
Log into your NMLS account and:
- Attest your record is accurate. All required Continuing Education must be viewable in NMLS to be eligible to renew.
- Authorize a Criminal Background Check (CBC) and/or Credit Report if not completed within 90 days prior to the renewal request.
- Pay renewals fees through NMLS via credit card or ACH.
After you submit and pay for your renewal:
Monitor your NMLS record or email for notifications. DFI exclusively uses licenses items to communicate with licensees regarding issues preventing renewal processing.
DFI processes renewals in the order received. Each renewal must be reviewed and a decision made. The timeline for reviewing a renewal can vary.
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 855-NMLS-123 (855-665-7123).
Frequently Asked Questions
What is Washington’s deadline to submit a MLO renewal?
MLO renewals must be submitted by December 15. Renewals can be submitted through December 31, however, DFI may not be able to process renewals submitted after December 15 before the start of 2015.
What if my renewal isn’t approved by December 31?
Your license will expire which means you cannot act as a loan originator in Washington until your renewal is approved.
What does it cost to renew a Washington MLO License?
The cost to renew a MLO license on or before December 31 is $206.25. This includes the $125 renewal fee, $30 NMLS System Fee, $36.25 for the CBC and $15 for the credit report. Credit card payments are subject to an additional processing fee.
I already had my fingerprints physically taken before, why are my fingerprints now showing as expired?
NMLS, as required by the FBI, established a policy which allows fingerprints to be stored on the system for 3 years. At the end of that period, fingerprints are marked as expired. Any new criminal background checks after the prints are expired will require the individual to be physically fingerprinted again.
I understand my CBC and Credit Report authorizations are good for 90 days. When does the 90 day period start and end?
The 90 day period starts once the CBC and Credit Report results post to your NMLS record. If you do not submit your renewal request within 90 days of that date then you must pay again when you do renew.
Can I renew my Washington MLO license on inactive status?
Yes, a Washington MLO license can be renewed on inactive status as long as the individual meets all the renewal requirements and submits a complete renewal request.
What is Washington’s Continuing Education requirement?
Washington’s Continuing Education requirement is 9 hours of NMLS approved CE, including 1 hour in Washington law.
Are there specific Continuing Education courses which must be taken?
Yes. All continuing education courses must be NMLS approved Continuing Education (CE). 3 hours must be in Federal law and regulations, 2 hours must be in ethics, 2 hours must be in lending standards for nontraditional mortgage products, 1 hour must be in Washington law and the final 1 hour is an elective.
I submitted my renewal request but it isn’t approved yet. What should I do?
DFI processes renewals in date order received. There are very common reasons why a renewal may not yet be approved.
- DFI has not reviewed your renewal request.
- There are outstanding license items on your license. Log into your NMLS account to review.
- Your sponsoring company has not renewed the license for your work location.
Who can help if I forgot my password to the NMLS?
Use the “Forgot User Name” or “Forgot Password” link on the NMLS login screen. If this does not work, contact the NMLS Call Center. You can reach them at 855-NMLS-123.
I am an inactive loan originator, must I renew my license?
Yes you must renew if you wish to maintain your inactive MLO license in 2015. This includes meeting all the renewal requirements and submitting the renewal request via the NMLS.
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 (855-665-7123).
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 loan originator 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 loan originator license?
The cost to renew your MLO license late is $268.75. This includes the $125 renewal fee, $62.50 late fee, $30 NMLS System Fee, $36.25 for the CBC and $15 for the credit report. Credit card payments are subject to an additional processing fee.
The following is a list of resources available to help MLO’s renew for 2015.
- Renewal Handbook (PDF)
- Attest and Pay Quick Guide (PDF)
- Attest for Company Quick Guide (PDF)
- Criminal Background Check Quick Guide (PDF)
- Credit Report Authorization Quick Guide (PDF)
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