What is the average time it takes for an individual to get an MLO license in New York?
Several factors determine the time it takes to get an MLO license in New York.
- It takes about two weeks to obtain a unique identification number from NMLS. This period includes time taken for documentation and background checks.
- The pre-license coursework is 20 hours and this will take 14 days to complete even if you study at your preferred pace.
- Schedule and pass the SAFE ACT MLO test.
- Go through the checklist of requirements for new applications located here!
- Next, the NYDFS will review your application and the time for it depends on the number of pending new applications. Typically, the time taken at this stage is thirty to sixty days.
Hence, get an MLO license in New York in 2 to 4 months after all the variables given above are considered.
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