NMLS

News & Analysis as of

NMLS Releases MLO and Lender Numbers

The NMLS recently released its NMLS Mortgage Industry Report 2014 Q3 Update. According to the report, there were 343,800 state-licensed mortgage loan originators (MLOs) during the 2014 third quarter, a 10 percent increase...more

Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the... [Video]

oin Pepper Hamilton LLP, the Conference of State Bank Supervisors (CSBS) and RECOVCO Mortgage for an engaging discussion about important recent trends involving state supervision as states shift an ever greater amount of...more

Evolving State Supervision: Issues Arising From State Qualification Standards and "SAFE" Act Licensing, and Coordination with the...

In This Presentation: - Events That Changed Our World; And Yours Too! - Current Issues in Licensing - State Coordination With CFPB - The Path to Coordination - Responsibilities of the...more

NMLS Announces ‘Your License is Your Business’ Renewal Campaign

The NMLS is launching its “Your License is Your Business” renewal campaign to encourage non-depository entities and mortgage loan originators (MLOs) licensed through the NMLS to submit their annual renewal requests early....more

D.C. Transitions Money Transmitter And Other Licenses To NMLS

On August 20, the District of Columbia Department of Insurance, Securities and Banking (DISB) announced that, as of September 3, 2014, it will begin using the NMLS to manage money transmitter, check casher, money lender,...more

California Amends Education Requirements for Mortgage Loan Originators

California recently amended its pre-licensing and continuing education requirements for mortgage loan originators (MLOs) licensed under the California Finance Lenders Law and the California Residential Lending Act. The...more

D.C. Passes NMLS Conformity Temporary Act of 2014

Recently, Washington, D.C., Mayor Vincent Gray signed the NMLS Conformity Temporary Act of 2014. The Act authorizes the Department of Insurance, Securities and Banking (DISB) the necessary statutory authority to use the NMLS...more

The State Regulatory Registry Proposes Pre-Licensure Education Expiration Policy

The State Regulatory Registry LLC, through NMLS, recently published a proposal to create a uniform time frame for the expiration of pre-licensure education (PE) for state licensed Mortgage Loan Originators (MLO). The comment...more

Missouri Division Of Finance Transitions Mortgage Company Licensing To NMLS

Recently, the Missouri Division of Finance announced that all mortgage company and branch licenses issued through the Division will transition to the Nationwide Mortgage Licensing System (NMLS)....more

NMLS Announces New Ombudsman

On February 27, the Nationwide Mortgage Licensing System & Registry (NMLS) announced that Robert S. Niemi, Deputy Superintendent for Consumer Finance at the Ohio Division of Financial Institutions, will serve as NMLS...more

Commissioner of California Department of Business Oversight Issues Order on Designated Point of Contact for Delivery of Emails

The Commissioner of the California Department of Business Oversight on November 22 issued an order directing all DBO licensees (which would include California Finance Lender licensees and residential mortgage lender...more

NMLS Issues Third Quarter 2013 Licensing Report

The NMLS reported 16,076 state-licensed mortgage companies registered in the NMLS for the quarter that ended September 30, 2013, a decrease of 2 percent from 16,397 compared to the third quarter of 2012. During the same...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

State Regulators Proposes Changes To Uniform Licensing Forms And Mortgage Call Report

On October 11, the State Regulatory Registry (SRR) proposed changes to (i) the uniform NMLS company, branch, and individual licensing forms developed by state regulators and used by all states through NMLS and (ii) the NMLS...more

Texas Amends Provision Governing Use of NMLS

Texas has added provisions to its Financial Code granting the Texas Office of Consumer Credit Commissioner (the Commissioner) new authority over financial service industry licensees....more

CFPB Bulletin Supports Uniform State Test For Mortgage Loan Originators

On May 20, the CFPB issued Bulletin 2013-05, which clarifies that the Uniform State Test (UST) developed by the NMLS may constitute a qualified written test under the federal SAFE Act for state-licensed mortgage loan...more

CFPB issues guidance on Uniform State Test for mortgage loan originators

The CFPB has issued guidance that provides states may use the Uniform State Test (UST) developed by the Nationwide Mortgage Licensing System and Registry (NMLSR) to satisfy the testing requirement of the Secure and Fair...more

CSBS Seeks Comment On NMLS Licensing Forms, Mortgage Call Report

Earlier this month, the CSBS sought comment on potential revisions to (i) the uniform NMLS company, branch, and individual licensing forms and (ii) the quarterly NMLS Mortgage Call Report. The forms create a national standard...more

NMLS Proposes Uniformed Authorized Agent Reporting Processing Fee

On March 20, the NMLS proposed a processing fee to support a uniform and automated method for state-licensed money transmitters to report information concerning authorized agents/delegates to NMLS participating state...more

Special Alert: Report On 2013 NMLS Annual Conference

The Nationwide Mortgage Licensing System and Registry (NMLS) held its fifth annual NMLS User Conference and Training in San Antonio, Texas from February 26 through March 1, 2013. The Conference brought together state and...more

NMLS Publishes 2013.1 Release Portfolio

On December 21, the NMLS announced that NMLS Release 2013.1 is planned for March 18, 2013. As summarized in the Release Portfolio, the updated systems will...more

NMLS Announces 2013 Annual Conference

On December 18, the NMLS announced that its fifth Annual Conference and Training will be held February 26 – March 1, 2013, in San Antonio, Texas. ...more

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