Mortgages, NMLS | JD Supra

CSBS to Release Enhancements to Nationwide Multistate Licensing System & Registry (NMLS) on July 20.

Ballard Spahr LLP on 7/22/2024

The Conference of State Bank Supervisors (CSBS) will release the first phase of major enhancements to the Nationwide Multistate Licensing System & Registry (NMLS) on July 20....more

Wisconsin Senate Proposes New Bill to Revise Money Transmission, Consumer Lenders, Collection Agency, and Other Financial Services...

Ballard Spahr LLP on 1/22/2024

In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of...more

Nationwide Multistate Licensing System Adds New License Types

Hinshaw & Culbertson - Consumer Crossroads on 8/1/2023

Several new licenses will be managed on the Nationwide Multistate Licensing System and Registry (NMLS) in Kentucky, North Dakota, and Wisconsin beginning August 1, 2023. These new license types will affect consumer finance...more

North Dakota amends mortgage licensing requirements

Orrick, Herrington & Sutcliffe LLP on 3/28/2023

On March 13, the North Dakota governor signed SB 2090, which, among other things, revises licensing requirements for residential mortgage lenders. ...more

CSBS seeks comments on uniform mortgage licensing standards

Orrick, Herrington & Sutcliffe LLP on 3/28/2023

On March 16, the Conference of State Bank Supervisors (CSBS), on behalf of the NMLS Policy Committee, issued a request for public comments on proposed uniform state licensing standards for mortgage companies. ...more

Montana amends mortgage servicing laws

Orrick, Herrington & Sutcliffe LLP on 2/24/2023

On February 16, the Montana governor signed HB 30, which amends certain provisions of the state’s mortgage laws. Among other things, the act outlines provisions related to financial condition requirements, model state...more

The Twelve Days of Renewals

Bradley Arant Boult Cummings LLP on 12/8/2021

On the first day of renewals the NMLS brought to me, system issues and lock outs. Yes, the 2021 Renewal season brought no holiday joy to either regulator or industry users. The first twelve days did present challenges with...more

NMLS State Examination System is Launching Nationwide

Ballard Spahr LLP on 2/27/2020

The Conference of State Bank Supervisors (CSBS) recently announced at the NMLS Annual Conference & Training in San Francisco that the new State Examination System (SES) is set to launch nationwide....more

2020 NMLS Annual Conference & Training: Reminder to Submit Agenda Items to NMLS Ombudsman

Ballard Spahr LLP on 1/28/2020

For the upcoming 2020 NMLS Annual Conference & Training taking place February 18-21 in San Francisco, individuals are reminded to submit discussion items to the NMLS Ombudsman by Friday, January 24, to be addressed during an...more

New Jersey Mortgage Servicer License Applies to Holders of Mortgage Servicing Rights

Ballard Spahr LLP on 1/14/2020

The New Jersey Department of Banking and Insurance recently issued a bulletin to provide guidance relating to the licensing and registration of mortgage servicers under the New Jersey Mortgage Servicers Licensing Act. The...more

NMLS Reinstatement Period Now Open Through February 29

Ballard Spahr LLP on 1/13/2020

The NMLS Reinstatement Period began on January 2, 2020, and will end on February 29, 2020. This period allows individuals and companies that failed to renew their licenses by December 31 to request renewal. ...more

NMLS Policy Guidebook Adds Temporary Authority Section

Ballard Spahr LLP on 12/6/2019

On November 23, 2019, an updated version of the NMLS Policy Guidebook was posted to the NMLS Resource Center. It includes a new section on Temporary Authority to Operate (TA) that provides technical guidance for qualified...more

NMLS to Release System Enhancements for MLO Temporary Authority

Ballard Spahr LLP on 11/26/2019

The Nationwide Multistate Licensing System & Registry (NMLS) is scheduled to release a system enhancement on November 24, 2019, which will allow qualified mortgage loan originators (MLOs) who are changing employment from a...more

DBO Proposes To Transition All CFL Licensees To NMLS

Allen Matkins on 11/19/2019

The State Regulatory Registry LLC, an affiliate of the Conference of State Banking Supervisors, developed and operates the Nationwide Multistate Licensing System (NMLS). In 2008, Congress enacted the Secure and Fair...more

NMLS Renewal Underway and Renewal Changes for Nevada Licensees

Ballard Spahr LLP on 11/11/2019

The NMLS renewal period for licensees began last week on November 1 and continues through December 31. For Nevada licensees, according to an update from the Nevada Division of Mortgage Lending...more

NMLS Resource Center Launches a ‘Temporary Authority to Operate’ Page

Ballard Spahr LLP on 9/24/2019

The NMLS Resource Center created a web page focused on Temporary Authority to Operate. The page features Frequently Asked Questions, a demonstration on how to obtain temporary authority to operate on the NMLS, links to NMLS...more

NMLS Ombudsman Holds Meeting at 2019 AARMR Annual Regulatory Conference

Ballard Spahr LLP on 8/28/2019

An open meeting with the NMLS Ombudsman was held August 8, 2019 in San Diego in connection with the 2019 American Association of Residential Mortgage Regulators (AARMR) Annual Conference. ...more

South Dakota Adds Non-Residential Mortgage Lender Licenses to NMLS

Ballard Spahr LLP on 7/29/2019

South Dakota Adds Non-Residential Mortgage Lender Licenses to NMLS - South Dakota added its Non-Residential Mortgage Lender License to NMLS on July 15, 2019. ...more

NMLS Ombudsman Meeting Summary Available

Ballard Spahr LLP on 4/22/2019

A summary of the Ombudsman Meeting held during the 2019 NMLS Annual Conference & Training is now available...more

Temporary Authority Update

Ballard Spahr LLP on 4/5/2019

Both Virginia and Utah have enacted legislation to permit temporary authority to operate as a mortgage loan originator in their respective states pursuant to the SAFE Act....more

Loan Originator Temporary Authority to Operate FAQs

Ballard Spahr LLP on 3/13/2019

FAQs re: the amendment of the SAFE Act (pursuant to The Economic Growth, Regulatory Relief, and Consumer Protection Act – S. 2155)....more

NMLS Publishes 2018 Annual Report "Transforming Supervision"

Ballard Spahr LLP on 2/26/2019

The 11th annual report on NMLS operations, performance and new development efforts has been released by the NMLS. ...more

NMLS Reinstatement Period Ends February 28

Ballard Spahr LLP on 1/30/2019

For those agencies that permit license reinstatement, the reinstatement period will run until midnight Eastern Time on February 28, 2019....more

New York Approves Nationwide Licensing Tool for Virtual Currency Business Activity Companies

Proskauer - Blockchain and the Law on 1/14/2019

New York State has taken measures this year to modernize its approach to regulation for blockchain-based companies. Even before Assembly Bill A8783B established a government task force to study the effects of blockchain and...more

Ombudsman Meeting at the 2019 NMLS Annual Conference & Training

Ballard Spahr LLP on 1/2/2019

An open meeting with the NMLS Ombudsman will be held Wednesday, February 20, 2019, from 9 a.m. to 12 p.m. ET, in conjunction with the 2019 NMLS Annual Conference & Training in Orlando, Florida. ...more

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