Ariz. Admin. Code § 20-4-1903

Current through Register Vol. 30, No. 25, June 21, 2024

Section R20-4-1903 - Equivalent and Related Experience

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. Commercial mortgage banker with an Arizona license, or Responsible Individual or branch manager for a licensee;

2. Mortgage broker with Arizona license, or Responsible Individual or branch manager for a licensee;

3. Mortgage banker with an Arizona license, or Responsible Individual or branch manager for a licensee;

4. Loan officer, with responsibility primarily for loans secured by lien interests on commercial real property;

5. Lender's branch manager, with responsibility primarily for loans secured by lien interests on commercial real property;

6. Commercial mortgage banker with license from another state, or Responsible Individual for the commercial mortgage banker;

7. Mortgage broker with license from another state, or Responsible Individual for the mortgage broker;

8. Mortgage banker with license from another state, or responsible individual for the mortgage banker;

9. Attorney certified by any state as a real estate specialist.

B. The experience of an applicant with insufficient actual experience of the types listed in subsection (A) is reviewed and evaluated on a case by case basis.

Ariz. Admin. Code § R20-4-1903

New Section adopted by final rulemaking at 5 A.A.R. 2094, effective June 10, 1999 (Supp. 99-2).