Credit Reports Coming November 1st

NMLS will unveil new functionality on November 1st which will allow MLOs to log into NMLS and authorize TransUnion® to send a credit report (electronically, within NMLS) to their regulator(s). MLOs will have to answer 3-4 questions about themselves in order to verify their identity with TransUnion before the credit report is generated. While a company may pay for the credit report through NMLS, only the MLO will be able to complete the identity verification process.

As the annual renewal process also begins on November 1st, MLOs should plan to pay for and authorize their credit report as part of the annual process of attesting to their record and renewing their license(s). For more information, go to NMLS Credit Report.

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