A. An applicant may satisfy the three years’ experience requirement of A.R.S. § 6-973 by the types of lending-related experience listed in this subsection. The Department counts each month in the following types of work experience towards the three years required either for a commercial mortgage banker license, or as a responsible individual, both under A.R.S. § 6-973(D). The Department counts a fractional month of experience, at least 15 days long, as a full month.
- 1. Mortgage broker, responsible individual, or branch manager for a licensee;
- 2. Mortgage banker, responsible individual, or branch manager for a licensee;
- 3. Commercial mortgage broker, or responsible individual, or branch manager for a licensee;
- 4. Commercial mortgage banker, or responsible individual, or branch manager for a licensee;
- 5. Loan originator with responsibility primarily for loans secured by lien interests on commercial real property;
- 6. Lender’s branch manager with responsibility primarily for loans secured by lien interests on commercial real property;
- 7. Attorney licensed in Arizona;
- 8. Manager or supervisor of loan originators;
- 9. Mortgage processor, mortgage underwriter, or mortgage quality control professional with responsibility primarily for loans secured by lien interests on real property;
- 10. Executive, supervisor, or policymaker involved in administering, or operating a mortgage-related business; or
- 11. 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.
- B. The Department will review and evaluate the experience of an applicant with insufficient actual experience of the types listed in subsection (A) on a case by case basis.
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. 2330 (July 11, 2025), effective August 17, 2025 (Supp. 25-2).