loan originators and brokers in New York must now
pass a New York mortgage license test to conduct business in the state.
York mortgage test is a new requirement by the state and the Nationwide
Mortgage Licensing System (NMLS). Mortgage professionals must pass the
mortgage test within four tries or risk the ability to do business in
in the future.
Candidates must wait 30
calendar days between each test attempt. After the fourth attempt, they
wait 180 days before retaking the New York mortgage license test.
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New York mortgage broker exam was released by the NMLS
in December 2009. The test consists of 50 scored test questions and 10
unscored. The mortgage brokers test for New York includes six topic
- New York State Banking Department (5%)
- New York State Law and Regulation Definitions (15%)
- New York License Law and Regulation (20%)
- Compliance (45%)
- Disciplinary Action (10%)
- Unique New York State Test Areas (5%)
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- Awareness of Exam Content
- Assessment of Knowledge Level
- Arrangement of Course Material
- Action Plan
- Analysis and Self-Evaluation
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Mortgage Loan Originator Test Prep: New
York State Component
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