Loan Originator Licensing

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Assists a consumer in obtaining or applying to obtain a residential mortgage loan.

23 06, 2011

Florida In-House Processors no longer need LO Licensing

June 23rd, 2011|Loan Originator Licensing, Mortgage Licensing News|

Florida law previously required persons acting solely as loan processors to secure a loan originator license. On May 31, the Governor of Florida signed into law a bill to relieve in-house loan processors from individual licensing in Florida. Specifically, the bill excludes in-house loan processors from individual licensure, so long as the individual (i) is [...]

14 06, 2010

Hawaii delays NMLS Mortgage Company and LO Licensing

June 14th, 2010|Loan Originator Licensing, Mortgage Licensing News|

Hawaii has Amended the SAFE Act Compliance Legislation and extended the Deadline for Mortgage Loan Originator Registration. On May 7, the Governor of Hawaii, Linda Lingle, signed into law legislation (S.B. 2603) to amend Hawaii's Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) compliance law, which was passed last year. The new law [...]

5 05, 2010

SAFE Mortgage Licensing Act

May 5th, 2010|Loan Originator Licensing, Mortgage Licensing News, NMLS|

The SAFE Mortgage Licensing Act (Title V of P.L. 110-289, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008) was signed into law in July 2008. It requires every loan originator taking a residential mortgage loan application from a consumer to obtain a mortgage loan originator (MLO) license from the State Agency in [...]

4 05, 2010

California DRE now requires Mortgage Loan Originator Endorsement through NMLS

May 4th, 2010|Loan Originator Licensing, Mortgage Licensing News|

California Department of Real Estate now requires Salespersons and Brokers to obtain an endorsement to their license through the NMLS if they want to use their license to originate residential mortgage loans. By January 31, 2010, or within 30 days of commencing the activity whichever is later, all licensees must report to the Department of [...]

6 11, 2009

Illinois Requires Licensing of Mortgage Loan Originators

November 6th, 2009|Loan Originator Licensing, Mortgage Licensing News|

Illinois passed a bill requiring the licensing of loan originators. Under the bill, mortgage loan originators and loan processors of underwriters acting as independent contractors must obtain a license under the Residential Mortgage License Act of 1987, unless exempt. The bill also establishes loan originator requirements with respect to education, exemptions, fees, renewals, bonds and [...]

5 11, 2009

Maryland NMLS-Approved SAFE Mortgage Loan Originator Test Available

November 5th, 2009|Loan Originator Licensing, Mortgage Licensing News, NMLS|

We are pleased to announce that NMLS-approved SAFE mortgage originator test components – both the national and the Maryland component – are now available for enrollment and scheduling. The first test appointments for the Maryland component will be available on October 22nd. The national component has been available since July 30, 2009. Registration is now [...]

5 11, 2009

California Enacts SAFE Act Legislation – NMLS Mortgage Broker Licensing

November 5th, 2009|Loan Originator Licensing, Mortgage Licensing News|

On October 11, California Governor Arnold Schwarzenegger signed into law S.B. 36, a bill that requires the employees of licensees under the California Finance Lenders Law (CFLL) and the California Residential Mortgage Lending Act (RMLA) that are engaged in the business of mortgage loan origination to be licensed, beginning July 1, 2010. The bill similarly [...]

5 11, 2009

CA Passes NMLS Loan Originator Licensing Requirements

November 5th, 2009|Licensing Requirements, Loan Originator Licensing, Mortgage Licensing News, NMLS|

California recently adopted several mortgage related bills. CA Senate Bill 36 became effective October 11, 2009 and includes the following revisions and adoptions: Adopts new sections covering: licensing requirements for loan processors and underwriters; application requirements including fingerprinting, personal history, and independent credit reports; minimum standards that must be met by mortgage loan originator licensing [...]

11 09, 2009

Rhode Island Mortgage Loan Originator Professional Requirements under SAFE

September 11th, 2009|Loan Originator Licensing, Mortgage Licensing News|

Sent on September 11, 2009 Rhode Island Bill Numbers H 5704 A and S 0461 A were enacted into law on July 16, 2009 in order to bring the mortgage licensing laws of the State of Rhode Island into compliance with the federal Secure and Fair Enforcement for Mortgage Lending Act of 2008 (“SAFE Act”). [...]

1 10, 2008

Housing and Economic Recovery Act makes Mortgage Loan Originator Licensing Mandatory in Each State

October 1st, 2008|Loan Originator Licensing, Mortgage Licensing News|

The recently passed Housing and Economic Recovery Act included a provision called the S.A.F.E. Mortgage Licensing Act, which stands for the Secure and Fair Enforcement for Mortgage Licensing Act. The recent legislation passed by our US Congress and signed by the President requires every state to create mortgage licensing laws and regulations for loan originators [...]