All MLOs must renew their registration each year during the annual renewal period – November 1st to December 31st. The only exception occurs in the year of the original registration if the MLO registers after July 1st.
Just to add a note to Jack’s response; I’m pretty sure that they have adjusted the cost of registering MLOs so that if you wait to register between 07.01.11 and 07.29.11 that you won’t save any money. In fact, you’ll end up spending the same amount as if you registered before hand and did the annual renewal.
To quote a rock song released in 1990 “Money Talks”.