MLO Licenses

News & Analysis as of

MBA: Virginia Governor Should Sign Transitional MLO Licensing Bill

As we previously reported, the Virginia Senate and House recently unanimously passed legislation that would authorize the Virginia State Corporation Commission to issue transitional MLO licenses. ...more

Maryland and Virginia Considering Legislation Affecting Residential Foreclosures and Transitional MLO Licensing

In 2014, state legislatures continue to be active in considering policy options that would impact the mortgage industry. The following are two examples of the legislative and regulatory agendas currently being debated across...more

Washington Amends Its Consumer Loan Act Licensing Regulations

The Washington Department of Financial Institutions (Department) recently issued a new rule clarifying the licensing requirements for individual managers of Consumer Loan Company Licensees. The new rule became effective on...more

NMLS Expansion Update

As noted in prior editions of the Mortgage Banking Update, states are transitioning non-mortgage licenses to the NMLS. Most recently, the Wyoming Division of Banking began receiving new applications for Money Transmitter...more

States Announce New Criminal Background Checks for License Renewal

Multiple state regulators are introducing new background check procedures for MLOs licensed through NMLS. Under FBI rules, Connecticut, Delaware, Florida, Hawaii, Idaho, Massachusetts, Missouri, Montana, Nebraska, New York,...more

Another Agency Adopts the Uniform State Test

Another state agency has announced that it will be adopting the new national MLO test with the Uniform State Content. The District of Columbia Department of Insurance, Securities, and Banking will adopt the test effective...more

Ten More States Adopt Uniform MLO Test

On July 1, the CSBS announced that ten additional state agencies will use the new National SAFE MLO test....more

Nevada Adopts Uniform State Test and Exempts Loan Processors and Underwriters from MLO Licensure

Another state agency has announced that it will be adopting the new national MLO test with the Uniform State Content. The Nevada Department of Business and Industry will adopt the test effective January 1, 2014....more

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