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Surrender of Mortgage License or Registration

Mortgage bankers, mortgage brokers and mortgage loan servicers seeking to surrender licenses or registration must submit the surrender request through the Nationwide Mortgage Licensing System (NMLS).

Surrender Instruction

  1. No fee required.
  2. Branch locations must be surrendered on form MU3.  Note: you must select the MU3 associated with the branch office you wish to surrender and New York as the jurisdiction.
  3. Principal office surrenders are processed using form MU1.  Note: each branch office must be surrendered using form MU3.
  4. You are required to indicate the physical location where the books and records will be maintained for branch surrenders and principal office surrenders.  This information must be provided in books and records section of MU3 or MU1 Form, as applicable.
  5. Indicate the name, address and telephone number of the individual(s) responsible for safekeeping of books and records of the respective branch or principal office, as applicable.
  6. Provide the name, address and telephone number of the individual responsible for winding down the operations of the respective branch or principal office, as applicable, and for handling consumer complaints.

Jurisdiction Specific Requirements

Jurisdiction-specific requirements as identified below must be submitted within 5 business days of the submission of your application through NMLS to the Department at the following address:

New York State Department of Financial Services
One State Street
New York, NY 10004
Attn: Mortgage Banking

The following documents are required for the Department to process a surrender request:

    1. Branch Office – Original license or registration for the respective branch location(s).
    2. Principal Office – Original license or registration for the principal office and all authorized branch location(s).

Note:  If your license or registration has been lost or misplaced you must submit a notarized Lost License and Certificate Affidavit (PDF) for each lost license or registration. 

  1. Pipeline  List of all loans in the pipeline of the respective branch, branches or principal office as of the date surrendered is filed in the NMLS. Listing should include the date of application, name of borrower(s), property address, proposed loan amount, fees, and anticipated closing date.
  2. Final Volume of Operations Report  You are required to submit a final Volume of Operations Report (VOOR) for the year in which you surrendered your principal office license or registration. You may contact the Department at (212) 709-3844 for a copy of the necessary forms to facilitate submission of your final VOOR.

Please note: Surrenders will be effective as of the date of our receipt of all of the aforementioned required documents. Failure to provide all required documentation will delay processing and result in the accrual of additional General Assessment Fees.

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