NMLS

News & Analysis as of

NMLS Release 2016.1.2 Targeted for May 2, 2016

NMLS Release 2016.1.2 Targeted for May 2, 2016 - NMLS Release 2016.1.2 is targeted for delivery on May 2, 2016. The release contains general enhancements and system maintenance updates. For example, the MU2 section of...more

NMLS MCR Enhancements

NMLS MCR Enhancements - Changes have been made to the NMLS Mortgage Call Report (MCR) which have been reflected as of April 1, 2016. The changes will affect the Residential Mortgage Loan Activity (RMLA) and the...more

Transitional Authority Bill Passes House Committee Unanimously

The House Financial Services Committee unanimously approved a bill that would enable registered mortgage loan originators to move from a depository mortgage lender to a state-licensed mortgage lender almost immediately. This...more

HNMLS Issues 8th SRR Annual Report

The NMLS issued the 2015 State Regulatory Registry (SRR) Annual Report on February 17, 2016. The Report provides 2015 highlights, including how the National Test with Uniform State Content (UST) was adopted by four additional...more

NMLS Release 2016.1

NMLS Release 2016.1 is targeted for January 25, 2016. The release includes functionality for surety companies and surety bond producers to request an account within NMLS and establish business associations, enhancements to...more

NMLS Renewal Period Starts Now

The annual NMLS renewal period for 2016 started on November 1, 2015, and ends on December 31, 2015. State regulators are encouraging licensees to renew their licenses early. Renewal applications are available online. In...more

The Conference of State Bank Supervisors Adopts Model Regulatory Framework for Virtual-Currency Businesses

Addressing regulatory concerns pertaining to consumer protection, market stability, and law enforcement, the Framework expands on the CSBS draft framework released in December 2014. The Conference of State Bank...more

Connecticut Adds New Licenses to NMLS

The Nationwide Mortgage Licensing System (NMLS) is now accepting new applications and transition filings for new industry licenses for the Connecticut Department of Banking (Department). The Department is requiring companies...more

Texas Adds Exemptions to Texas SAFE Act Licensing Requirements

Texas has amended its provisions relating to exemptions from the applicability of the Texas SAFE Act for certain nonprofit organizations and their residential mortgage loan originators (MLOs). Under the amendment, a nonprofit...more

New Rhode Island Banking Regulations to Promote Uniformity

Rhode Island has repealed certain banking regulations and replaced them with new regulations in order to promote uniformity. Banking Regulations 98-14 “Licensees”, 98-14.1 “Lenders and Loan Brokers”, and 98-14.4 “Check...more

The District of Columbia Adopts the NMLS Uniform Authorized Agent Reporting (UAAR)

The District of Columbia Department of Insurance, Securities and Banking has begun using the Uniform Authorized Agent Reporting (UAAR) process of the Nationwide Mortgage Licensing System & Registry (NMLS) to satisfy agent...more

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

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

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

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 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

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