A.R.S. § 6-949: Conversion to mortgage broker license

Notwithstanding any other law, a licensee who funds in the aggregate one hundred fifty or fewer loans in the immediately preceding calendar year may apply at the time of license renewal to the department for a conversion to a mortgage broker license issued pursuant to article 1 of this chapter. The conversion application shall be in a manner prescribed by the deputy director by rule. The approval of the conversion is at the discretion of the deputy director.