To renew an Arizona mortgage license for 2018, the renewal application is due December 31, 2017. This deadline applies to the four license types — mortgage broker, mortgage banker, commercial mortgage banker and commercial mortgage broker.
Filing the renewal application is a two-step process: (1) submit the renewal application through the NMLS, along with the appropriate financial statement for the license type and the required fee; and (2) submit the renewal checklist and the continuing education certificate of the Responsible Individual to the AZDFI.
If the renewal application is not submitted by the deadline of December 31, 2017, then the license is suspended and the licensee cannot conduct mortgage business in Arizona. The suspended license can still be renewed until January 31, 2018. For some license types, a per day penalty is assessed until the license is renewed. If the license is not renewed by January 31, 2018 the license expires and can no longer be renewed. See for mortgage brokers, A.R.S. § 6-904(D); for mortgage bankers A.R.S. § 6-944(C); for commercial mortgage brokers, A.R.S. § 6-904(D); and for commercial mortgage bankers, A.R.S. § 6-980(B)(1),(2) and (3).