About the System
The Nationwide Mortgage Licensing System has been designed to
streamline the licensing process, improve supervision and increase
transparency in the mortgage industry. The NMLS will contain a single
record for each state regulated mortgage lender, broker, branch and
loan originator. This single record can be used to apply
for, amend, renew or surrender licenses in any participating
jurisdiction.
For more information, view our interactive Overview
of the NMLS.
Getting Started
Which best describes you?
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State Licensing Resource Page
You can consult each state agency's transition plan and
jurisdiction-specific requirements on our State
Licensing Resource Page.
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News and Alerts
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** ALERT
**
Call Center closed for July 4
holiday
The NMLS Call Center will close at 2:00 pm EDT on July 3, 2008. It will
reopen at 9:00 am EDT on July 7, 2008. The NMLS System will remain
operational at this time.
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Five Additional States Receiving Applications through
NMLS
On July 1, 2008 NMLS began receiving new application and transition
filings in Connecticut, Mississippi, New Hampshire, North Carolina, and
Vermont. Over the past two months, licensees in these states were sent
letters from their regulator encouraging them to begin creating their
NMLS record in anticipation of the state's participation. Licensees and
new applicants are now able to submit these records through NMLS.
Additional information on each state's requirements is available
here: Participating
States.
NYS Banking Department Deadline for Loan Officers was July
1st
Loan officers originating in New York had until July 1, 2008, to
complete and submit a Form MU4 through NMLS and mail all
jurisdiction-specific items to NYS Banking Department, unless their
employer was specifically granted a later deadline by the NYS Banking
Department. Mortgage Loan Originators that failed to meet this deadline
should consult their employer to determine whether an alternate deadline
was provided. Companies with Loan Officers that have not submitted an
application are instructed to have their Loan Officers immediately file
an application through the NMLS, unless an alternate deadline was
provided.
Louisiana OFI Delays Participation Date on NMLS
Louisiana Office of Financial Institution's fully-functional
participation in the NMLS has been delayed. While Licensees will not be
able to submit a filing until LA-OFI is fully functional on NMLS,
Licensees should continue to complete all necessary NMLS records to
transition their LA-OFI license(s) onto NMLS. There is no charge to
create a record on NMLS and the information can be saved and submitted
when LA-OFI becomes fully-functional. The anticipated date for
submission is August 1, 2008.
Upgrades to NMLS - Release 1.2
During the course of development of NMLS and in response to industry and
regulator feedback, updates are made periodically to NMLS through
Releases. NMLS is currently issuing Release 1.2 with all changes going
into effect July 1, 2008. While there are numerous minor upgrades, there
are three major enhancements in this release that will affect industry
users of NMLS:
Reports - Company Users can now run reports on loan officers
and branches.
NMLS Notifications - Additional automated notifications for
Company and Individual Users have been added.
Sponsorship Fees - After the initial Sponsorship of a loan
officer, NMLS will charge a processing fee and, where applicable, a
regulator fee for subsequent Sponsorships. The NMLS processing fee for
Sponsorship is $30 and regulator fees are determined by the
regulator.
More information on these changes can be found here: Summary | Release Notes.
Kentucky OFI deadline has expired
Licensees holding a Mortgage Company License, a Mortgage
Broker License, a branch license or a Loan Originator License in
Kentucky had until June 20, 2008 to transition their license onto
NMLS. Licensees who missed the deadline can still transition
without penalty through June 30, 2008. Anyone transitioning from July 1,
2008 through July 31, 2008 must pay a $250 late fee. No transitions will
be accepted after July 31, 2008.
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