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Attention all NYAMB Members!
In an effort to keep you informed of important information that may impact you, we are forwarding the following notice sent out from the New York State Department of Financial Services dated October 7, 2024
Subject: Renewal of License/Registration for 2025
Dear Licensee/Registrant:
Kindly note, beginning November 1st, of each calendar year, New York regulated entities are required to process a renewal request through the Nationwide Multistate Licensing System & Registry (“NMLS”). All renewals must be processed through the NMLS no later than December 31, 2024. Although the Department does not charge a renewal fee for entities to renew their license or registration, the NMLS collects a system processing fee of $100.
On January 1, 2025, entities that failed to submit a renewal request through the NMLS will have their license or registration status changed to “Failed to Renew.” These licenses and registrations will remain in “Failed to Renew” status until a reinstatement renewal request is processed through the NMLS. The reinstatement request must be processed prior to February 28, 2025. If you fail to renew for 2025, your NMLS account will be locked and you will no longer have access to file regulatory changes on such account.
Instructions for processing your 2025 renewal request can be accessed through the NMLS website at http://mortgage.nationwidelicensingsystem.org. For system processing related issues, please contact the NMLS at 855-665-7123.
Should you have any questions regarding the issues outlined in this letter, please contact Diane Huntzicker at diane.huntzicker@dfs.ny.gov.
Sincerely,
Mortgage Banking Supervision Unit
CLICK HERE for Original Letter from the Department
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Sincerely,
Mark Favaloro
Chairman of the Board, Legislative Committee Co-Chair
New York Association of Mortgage Brokers
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