Nationwide Mortgage Licensing System

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 [...]

6 11, 2009

Kansas Mortgage Broker Licensing becomes part of NMLS

November 6th, 2009|Mortgage Licensing News, NMLS|

Kansas adopted rules amending the Mortgage Business Act. Under the rules, mortgage loan originators are required to complete 20 hours of education and pass a written test prior to licensure. The rules also amend surety bond requirements, increase licensing fees for branch offices and establish additional record retention requirements for mortgage companies. Kansas also adopted [...]

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

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 [...]

19 06, 2009

FAQ for Maryland NMLS Transition

June 19th, 2009|FAQ, Mortgage Licensing News, NMLS|

FAQ for Maryland NMLS Transition FREQUENTLY ASKED QUESTIONS AND ANSWERS REGARDING MARYLAND NMLS TRANSITION FOR YOUR ASSISTANCE As you know, Maryland's transition to the Nationwide Mortgage Licensing System is under way.  Your continued cooperation in this transition is greatly appreciated.  To assist licensees and applicants, we have prepared a list of "Frequently Asked Questions" and [...]

4 04, 2009

What is the Nationwide Mortgage Licensing System?

April 4th, 2009|Mortgage Licensing News, NMLS|

For those of you located in states that have already transitioned onto the Nationwide Mortgage Licensing System (NMLS), you are probably already intamitely familiar with the new NMLS. However, if you are not licensed in one of the 23 states that have transitioned or are in the process of transitioning on to the NMLS, you [...]

7 11, 2007

Update on Mortgage Reform Legislation

November 7th, 2007|License Updates, Mortgage Licensing News, NMLS|

Press Release from the House Committee on Financial Services: For Immediate Release: November 6, 2007   Financial Service Committee Approves Comprehensive Mortgage Reform and Anti-Predatory Lending Legislation     Washington, DC - The House Committee on Financial Services today approved historic bipartisan mortgage reform legislation and anti-predatory lending practices by a vote of 45 to [...]

25 09, 2007

Texas Entity Applications Available

September 25th, 2007|Mortgage Licensing News, NMLS|

UPDATE: Texas is on the NMLS now Are you a licensed mortgage broker in the state of Texas? Does the compensation that you make on a loan go to your corporation or LLC? If so, you now need to get your mortgage corporation or LLC licensed. The applications just posted last week. If you're in [...]

11 09, 2007

Nationwide Mortgage Licensing System

September 11th, 2007|Mortgage Licensing News, NMLS|

State mortgage regulators from around the country have been working since 2004 to develop a nationwide licensing system for the residential mortgage industry that will improve supervision of the mortgage industry, streamline the licensing process for mortgage companies and professionals, and enhance consumer protection. The Nationwide Mortgage Licensing System (NMLS) is a web-based system that [...]