1. A. An applicant may satisfy the three years’ experience requirement of A.R.S. § 6-943 by the types of lending-related experience listed in this subsection. The Department counts each month in the following types of work experience toward the three years required either for a mortgage banker license, or as a responsible individual, both under A.R.S. § 6-943(C). The Department counts a fractional month of experience, at least 15 days long, as a full month.

   1. 1. Mortgage broker, responsible individual, or branch manager for a licensee;
   2. 2. Mortgage banker, responsible individual, or branch manager for a licensee;
   3. 3. Loan originator with responsibility primarily for loans secured by lien interests on real property;
   4. 4. Lender’s branch manager with responsibility primarily for loans secured by lien interests on real property;
   5. 5. Attorney licensed in Arizona;
   6. 6. Manager or supervisor of loan originators;
   7. 7. Mortgage processor, mortgage underwriter, or mortgage quality control professional with responsibility primarily for loans secured by lien interests on real property;
   8. 8. Executive, supervisor, or policy maker involved in administering, or operating a mortgage-related business; or
   9. 9. Regulator, examiner, investigator, compliance expert, or auditor whose primary function is the review of mortgage companies, and their compliance processes whose experience is determined to be sufficient by the Department.

2. B. An applicant with insufficient actual experience of the types listed in subsection (A) may satisfy the remainder of the three years’ experience requirement of A.R.S. § 6-943 by the types of related experience listed in this subsection. The Department counts each month in the following types of work experience according to the ratio listed below, of actual experience to equivalent experience, credited toward qualifying for a license, or as a responsible individual, both under A.R.S. § 6-943(C). The Department counts a fractional month of experience, at least 15 days long, as a full month. The remaining years of experience required to qualify for a license shall be obtained from types of work experiences listed in subsection (A). A minimum of one year of experience must be obtained from the types of work experience listed in subsection (A).

   1. 1. Attorney not licensed in Arizona but licensed in another U.S. state or territory...3:2
   2. 2. Paralegal with experience in real estate matters...3:2
   3. 3. Mortgage broker or mortgage banker from another state without a license...3:2
   4. 4. Real estate broker with an Arizona license or license from a state with substantially equivalent licensing requirements...3:2
   5. 5. Escrow officer...3:2
   6. 6. Trust officer with a title company...3:2
   7. 7. Title officer with a title company...3:1.5
   8. 8. Lender’s branch manager with responsibility primarily for loans not secured by lien interests on real property...3:1.5
   9. 9. Loan originator with responsibility primarily for loans not secured by lien interests on real property…3:1

Historical Note

New Section adopted by final rulemaking at 5 A.A.R. 2094, effective June 10, 1999 (Supp. 99-2). Amended by final rulemaking at 31 A.A.R. 2324 (July 11, 2025), effective August 17, 2025 (Supp. 25-2).