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Proposed Changes to the Mortgage Call Report, Proposal 2018-1

The NMLS has requested comments to the proposed changes to the Mortgage Call Report (MCR) as contained in Proposal 2018-1. Examples of the proposed changes include, but are not limited to, the following...more

2017 SRR Annual Report Available

The State Regulatory Registry (SRR) has published its annual report, "Transforming Supervision by Engaging People and Investing in Technology." ...more

Wisconsin Using the NMLS Uniform Authorized Agent Reporting

On February 1, 2018, the Wisconsin Department of Financial Institutions started using the NMLS Uniform Authorized Agent Reporting (UAAR) functionality to fulfill agent reporting requirements....more

Alaska Adds Money Service Business Licenses to NMLS and Adopts ESB

As we recently reported, starting February 1, 2018, the Alaska Department of Commerce, Community, and Economic Development, Division of Banking and Securities will start receiving new applications and transition filings on...more

Texas Amends Definition of "Physical Office" for Mortgage Pros

The Texas Finance Commission of Texas amended and simplified the definition of “physical office” to mean “an actual office where the business of mortgage lending and/or the business of taking or soliciting residential...more

Texas Adds Residential MLO Pre-Licensing Education Expiration Period

The Texas Finance Commission of Texas adopted a new provision requiring the following individuals to retake the 20 hours of pre-licensing education as required by the S.A.F.E. Mortgage Licensing Act:...more

NMLS 2018.1 Release

On January 20, 2018, NMLS will release certain system enhancements and maintenance updates with NMLS 2018.1. ...more

Pennsylvania Adds Licensing Requirements for Mortgage Servicers

Pennsylvania is adding a requirement that a Mortgage Servicer License is required to engage in the mortgage loan business as a mortgage servicer. As such, the definition of “mortgage loan business” has been amended to include...more

Michigan Using Uniform Authorized Agent Reporting

The Michigan Department of Insurance and Financial Services will start using the NMLS Uniform Authorized Agent Reporting functionality to fulfill agent reporting requirements. ...more

Alaska to Add Money Transmitter License to NMLS and Adopt Electronic Surety Bonds

Starting on February 1, 2018, the Alaska Department of Commerce, Community & Economic Development, Division of Banking & Securities will start accepting applications for the Money Transmitter License on NMLS. ...more

Reinstatement Period Begins

The Reinstatement Period on NMLS started on January 1 and ends on February 28. ...more

New State Agencies Receiving ESB through NMLS

On January 1, 2018, certain state agencies will start receiving Electronic Surety Bonds (ESB) through NMLS for the following licenses...more

Ohio Adds Money Transmitter License to NMLS

On January 1, 2018, the Ohio Division of Financial Institutions will start accepting new application and transition fillings for the Money Transmitter License on NMLS....more

Michigan Publishes Annual Licensing Fees

The Michigan Department of Insurance and Financial Services published its annual licensing fees under the Mortgage Loan Originator Licensing Act as follows...more

Six State Agencies Using NMLS MSB Call Report

Starting in Q1 2018, the following state agencies will start using the NMLS MSB Call Report: ?Indiana Department of Financial Institutions, Iowa Division of Banking, New York Department of Financial Institutions, Ohio...more

Nevada Converting to Electronic Surety Bonds on NMLS

On December 1, 2017, the Nevada Division of Mortgage Lending will start using the new Electronic Surety Bond...more

Indiana Issues New Bond for Money Transmitter License

On October 14, 2017, the Indiana Department of Financial Institutions issued a new bond form for their Money Transmitter License to correct the language, making it consistent with their existing statute. This new bond form...more

Illinois Utilizes NMLS UAAR Functionality

The Illinois Department of Financial and Professional Regulation earlier this month started using the NMLS Uniform Authorized Agent Reporting (UAAR) functionality to fulfill agent reporting requirements. The UAAR allows...more

Oregon to Add Licenses to NMLS and Adopts Electronic Surety Bonds

Starting on November 1, 2017, the Oregon Division of Financial Regulation will accept applications for the Mortgage Servicer License and the Debt Buyer License on NMLS. The checklists for these licenses will be available here...more

Illinois Revises Residential Mortgage License Act Provisions

The Illinois Department of Financial and Professional Regulation adopted rules to repeal and amend parts of the Residential Mortgage License Act, including, but not limited to...more

California Makes Changes to the Finance Lenders Law

Recently, several changes were made to the California Finance Lenders Law with various effective dates. Effective immediately, the California Finance Lenders Law has been renamed the "California Financing Law."...more

D.C. and California Issue Student Loan Servicing Regulations, Join Other States in Migrating Licenses to NMLS

As we reported last month, the District of Columbia Department of Insurance, Securities and Banking (DISB) started accepting applications and transition filings for the Student Loan Servicer License on the Nationwide Mortgage...more

California and Washington, D.C. issue student loan servicing regulations

California and the District of Columbia have recently released regulations under their respective student loan servicing laws. Each is taking comments on its regulations, but whereas California has merely issued proposed...more

Iowa Transitions Division of Banking Licenses to NMLS

On October 1, 2017, the Iowa Division of Banking will require the following licensees to submit a license transition request via NMLS...more

Arkansas Requiring Amended Surety Bonds

Prior to the approval of their renewal request for the 2018 calendar year, Arkansas licensed mortgage companies and money transmitters must reissue their surety bonds to reflect the amended bond requirements adopted in March...more

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