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What do I need for a New York mortgage loan originator license?

To get a New York mortgage loan originator license, you take at least twenty hours of NMLS-approved education. Some of those hours cover New York law. Then you pass a written test with at least seventy-five percent right. The law says the classes can be online.

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The rule, fact by fact

Course hours
At least twenty hours of education approved through the NMLSRNMLS approves the courses and the course providers.
Verified. New York Banking Law · Section 599-f, pre-licensing education (opens state website) · checked Nov 13, 2026
Cost
$110 for the SAFE MLO Test, as NMLS lists it. This is not the course priceThat is the test fee NMLS lists. We haven't confirmed a course price from a source.
NMLS Resource Center · SAFE MLO Test overview (opens website) · checked Nov 13, 2026
Online accepted
Yes. The law allows a classroom, online or other means the NMLSR approvesThe law also allows any other means the NMLSR approves.
Same source and date as above
Passing score
A passing score is at least seventy-five percent correctThe statute treats any lower score on the qualified written test as a fail.
Verified. New York Banking Law · Section 599-g, testing (opens state website) · checked Nov 13, 2026

How to get it done

  1. Step 1. Check that your work needs the license. New York says no individual may work as a mortgage loan originator on a dwelling or residential real property in the state without one, unless the law exempts them.

  2. Step 2. Pick a course from the NMLS course provider list. NMLS reviews and approves the course and the provider. It has at least twenty hours, and three must cover New York law.

  3. Step 3. Take the course online or in a classroom. The law says pre-licensing education may be offered in a classroom, online or by other means NMLS approves.

  4. Step 4. Pass the written test with at least seventy-five percent right. NMLS lists the fee as $110. If you fail, you can retake it three times, at least thirty days apart.

Before you pay

NMLS approves both the course and the company that teaches it. Before you pay, check that the course is NMLS-approved and includes the three New York hours.

Questions

What is on the test, and what score do I need?

The SAFE MLO Test has 120 questions, and 115 are scored. You get 190 minutes. NMLS lists the fee as $110. New York law sets the pass mark at seventy-five percent correct, and NMLS says 75% or better.

How many times can I retake the test?

Three times in a row, with each try at least thirty days after the last. After three failed tries, you wait at least six months.

What do the twenty hours cover?

NMLS lists 3 hours of federal law, 3 of ethics, 2 of non-traditional mortgage lending, 9 of electives and 3 of New York law.

How often do I have to maintain the license?

Annually. The law requires an individual to obtain the license first and then maintain it annually.

What to do next

Start with the law that sets the hours. Then pick an NMLS-approved course.

www.nysenate.gov

Sources we read