What is the required reinstatement fee, if an mlo fails to renew their license on time?

(Does Not Include Costs/Fees due NMLS)

Type of License or Registration	Application Fee	First Annual Licensing Fee	Annual Renewal Licensing Fee	Examination Fee & Per Hour Cost (Approx.)	Supervision Fee
Escrow Agency	$500.00	$200.00	$200.00	$60.00 Per Hour
Escrow Agency Branch	$100.00	$100.00	$100.00	$60.00 Per Hour
Escrow Agent	$100.00	$25.00	$125.00	N/A
Mortgage Company	$1,200.00	$800.00	$400.00	$60.00 Per Hour	Annual Volume Based Supervision Fee
Mortgage Company Branch	$320.00	$80.00	$80.00	$60.00 Per Hour
Mortgage Loan Originator License	$75.00**	N/A	$50.00**	N/A
Independent Licensee - Covered Service Provider	$750.00	$500.00	$500.00	$60.00 Per Hour
Independent Licensee - Covered Service Provider Branch	$100.00	$150.00	$100.00	$60.00 Per Hour
Associated Licensee - Covered Service Provider	$185.00	N/A	$170.00	N/A
Credit Service Organization	$25.00	N/A	$25.00	N/A
Mortgage Servicer	$2,500.00	N/A	$1,000.00		Annual Volume Based Supervision Fee
Supplemental Mortgage Servicer	$1,000.00	N/A	$1,000.00		Annual Volume Based Supervision Fee

**Fee changes effective 07/18/2022

**New applications and renewal applications (effective 07/18/2022)

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(Does Not Include Costs/Fees due NMLS)
**Fee changes effective 07/18/2022
Mortgage Broker, Commercial Mortgage Broker:
Mortgage Banker:
Commercial Mortgage Banker:
Registered Exempt Person:
Loan Originator:
What is the late fee for an MLO who fails to renew their license in SC?
What is the due date to avoid fines and late fees on the license renewal application in GA?
Which of the following is true if a licensee is unable to meet renewal requirements by December 31 Florida?
What is the renewal fee for an MLO license in RI not including Nmls fees?

New and renewal applications submitted prior to 07/18/2022 are processed at $145 for new Mortgage Loan Originator applications and $135 for renewing Mortgage Loan Originator applications.

Your MLO license expires December 31 of each year and must be renewed on or before December 31 of each year. Approval of the renewal request is granted if all requirements are complete. Renewal requirements include:

Submission of renewal request and payment of the annual operating fee through NMLS.
An original perpetual bond mailed directly to the Department of Insurance and Financial Services (DIFS).
- Individual MLO Bond form FIS 2135
- Company MLO Bond form FIS 2137
Completion of 8 hours of continuing education (Exception: MLOs who complete pre-licensure education are not required to take continuing education that year.)
- NOTE: Continuing education must be completed prior to requesting renewal through NMLS.
Any MLO who requests renewal through NMLS after December 31 is subject to a late penalty of $25 per day up to a $1,000 maximum.

All Mortgage Broker, Commercial Mortgage Broker, Mortgage Banker, Commercial Mortgage Banker and Mortgage Loan Originator Licensees are required to submit their renewal through NMLS. Please click H E R E for Company Renewal instructions and H E R E for MLO Renewal instructions.

All entities holding a Mortgage License in Arizona must submit a renewal request through NMLS between the established renewal dates. You may submit a renewal request up to 30 days after the end of the regular renewal period, but there will be a late fee assessed of $25.00 per day depending on your license type. The NMLS streamlined renewal process allows you to conveniently manage the renewal of your company and branch licenses through your entity’s NMLS account. Specific renewal dates and information for each license type is set forth below:

Mortgage Broker, Commercial Mortgage Broker:

A licensee shall pay the renewal fee on or before December 31 of each year. Licenses not renewed by December 31 are suspended, and the licensee shall not act as a mortgage broker or a commercial mortgage broker until the license is renewed or a new license is issued pursuant to this article. A person may renew a suspended license by paying the renewal fee plus twenty-five dollars for each day after December 31 that a license renewal fee is not received by the superintendent and applying for renewal as prescribed by the superintendent. A license that is not renewed by January 31 expires. A license shall not be granted to the holder of an expired license except as provided in this article for the issuance of an original license.

Mortgage Banker:

A licensee shall pay the renewal fee on or before December 31. Licenses not renewed by December 31 are suspended, and the licensee shall not act as a mortgage banker until the license is renewed or a new license is issued pursuant to this article. A person may renew a suspended license by paying the renewal fee plus twenty-five dollars for each day after December 31 that a license renewal fee is not received by the superintendent and applying for renewal as prescribed by the superintendent. Licenses that are not renewed by January 31 expire. A license shall not be granted to the holder of an expired license except as provided in this article for the issuance of an original license.

Commercial Mortgage Banker:

If a license is not renewed by December 31 of each year, the license is suspended. The licensee shall not act as a commercial mortgage banker until the license is renewed or a new license is issued pursuant to this article. A person may renew a suspended license by applying for renewal as prescribed by the superintendent. Licenses that are not renewed by January 31 expire. A license shall not be granted to the holder of an expired license except as provided in this article for issuing an original license.

Registered Exempt Person:

A person shall make an application for renewal of a certificate of exemption in writing on the forms, in the manner and accompanied by the information prescribed by the superintendent. The superintendent may require additional information on the experience, background, honesty, truthfulness, integrity and competency of the applicant and the responsible individual designated by the applicant. Renewal must be made to the Department by December 31 of each year.

Loan Originator:

A person shall make an application for renewal of a license in writing in the manner prescribed by the superintendent and accompanied by the information prescribed by the superintendent. Before submitting a renewal application, an applicant for renewal of a loan originator license shall have satisfactorily completed eight approved continuing education units that include at least:

Three hours of federal law.
Two hours of ethics, including instruction on fraud, consumer protection and fair lending issues.
Two hours of training related to lending standards for the nontraditional mortgage product marketplace.
One hour of Arizona law.

What is the late fee for an MLO who fails to renew their license in SC?

Reinstatement Option Resident producers have six months to reinstate a license by completing all requirements, which includes completing credit hours and paying a $50 late CE compliance fee to the South Carolina Department of Insurance.

What is the due date to avoid fines and late fees on the license renewal application in GA?

Subsequent renewal applications and license fees must be received on or before December 1 of each year or the applicant may be assessed a late fine of three hundred dollars ($300).

Which of the following is true if a licensee is unable to meet renewal requirements by December 31 Florida?

If the licensee fails to meet all renewal requirements and pay all required fees before March 1, the license is expired, and the business must apply for a new license.