Grab Arizona (AZ) Mortgage Banker, Commercial Mortgage Banker (license) License Practice Course

1
Proxsoft LLC Web URL https//www.proxsoft.us Emai
l ID sales_at_ proxsoft.us Ph. No. 1 (302)
591-7836 Address 8 The Green, Suite A Dover,
Delaware 19901, USA Grab Arizona (AZ) Mortgage
Banker, Commercial Mortgage Banker (license)
License Practice Course About the Service The
guided study system features hands-on skills and
drills developed by leading IT experts.
Customizable tests allow you to focus on your
weakest areas. Electronic flashcards help
reinforce key concepts. Whether you are studying
at home or traveling, Exam Mastery gets you ready
for exam-day success! The program will calculate
their score/percentile on the same questions that
will appear on the actual certification exam when
taken at the testing center. With that
information, you'll be able to prepare yourself
for what's ahead in your exam. Prepare for your
certification exam with a targeted, self-paced
learning program. Exam Learning Program is an
easy-to-use online program designed to help you
prepare for your exam and then increase your
chances of passing it. Accessing URL of
Practice Exam https//proxsoft.us/product/study-a
rizona-az-mortgage-banker-commercial-mortgage-bank
er-license- license-practice-course-proxsoft/ Lic
ense Description Major Requirements for License
Mortgage Banker -- 1) Three or more years'
experience in making mortgage banking loans or
equivalent lending experience in a related
business 2. Engaged or intend to engage in
business of making mortgage loans or mortgage
banking loans. 3) Either be authorized to do
business with any of the following Federal
Housing Administration, Veterans Administration,
Federal National Mortgage Association, and
Federal Home Loan Mortgage Corp. or at all times
have and maintain a net worth of not less than
two hundred fifty thousand dollars. 4) Provide
Superintendent of Financial Institutions with a
current audited financial statement prepared by
an independent certified public accountant in
accordance with generally accepted accounting
principles including a) Certified Public
Accountant's opinion as to the fairness of the
presentation in conformity with generally
accepted accounting principles b) Balance sheet
prepared within the previous six months and
certified by the licensee. (The superintendent
may require a more recent balance sheet.) and c)
Statement of operations and retained earnings and
a statement of changes in
2
Proxsoft LLC Web URL https//www.proxsoft.us Emai
l ID sales_at_ proxsoft.us Ph. No. 1 (302)
591-7836 Address 8 The Green, Suite A Dover,
Delaware 19901, USA financial position provided
the applicant has commenced operations. 5) At all
times have and maintain a net worth of not less
than 100.000 6) Every person licensed as a
mortgage banker shall deposit with the
superintendent, before doing business as a
mortgage banker, a bond executed by the licensee
as principal and a surety company authorized to
do business in this state as surety 7)
Application Fee - see ""License Fee"" License
Fee Initial - 1,500 Renewal (Annually on or
before Sept. 30) - 750 (Closes 100 or fewer
loans in preceding calendar year), 1,250 (Closes
more than 100 loans in preceding calendar year)
Continuing Education None Major Requirements for
License Commercial Mortgage Banker -- 1) Three
or more years' experience in making mortgage
banking loans or equivalent lending experience in
a related business. 2) Engaged or intend to make
or negotiate or offer to make or negotiate
commercial mortgage loans. 3) Provide the
Superintendent of Financial Institutions with a
current audited financial statement by an
independent certified public accountant according
to generally accepted accounting principles
including a) the certified public accountant's
opinion as to the fairness of the presentation
according to generally accepted accounting
principles b) a balance sheet prepared within
the immediately preceding six months and
certified by the licensee. The superintendent may
require a more recent balance sheet c) if the
applicant has begun operations, a statement of
operations and retained earnings and a statement
of changes in financial position d) notes to the
financial statement if applicable 4) Have and
maintain at all times a net worth of at least
100,000 5) Application Fee - see ""License
Fee"" License Fee - Initial - 1,500 Renewal
(Annually on or before Sept. 30) - 1,250 and
250 for each branch office Continuing Education
None Licensing Agency Financial Institutions,
Department of 2910 N 44th Street, Suite
310 Phoenix, AZ 85018 (602) 771
2800 licensing_at_azdfi.gov http//www.azdfi.gov/