Archive for May, 2011

Training Opportunities for Institutions (FEDERAL)

May 26, 2011

NMLS has recently posted two new training opportunities for federally regulated institutions.

The first is a one day onsite training that will cover all the basics concerning NMLS Federal Registration. For more info, see NMLS Federal Registration In-Person Training.

The second is an overview on how to review the Criminal History Record Information. The SAFE Act requires federally regulated institutions to review the results of FBI criminal background checks performed on their MLOs. NMLS is hosting a webinar (June 1 or June 7) for institutions to hear directly from FBI experts. For more info, see FBI Criminal History Record Information Webinar.

Q1 MCR Update (STATE)

May 17, 2011

Over 7,500 companies have successfully submitted their Q1 Mortgage Call Report in NMLS. Field definitions and FAQs on the Resource Center continue to be updated based on questions submitted by users. Companies who missed the deadline of May 15 should be working to get their MCR submitted soon to maintain compliance and avoid license deficiencies.

MCR News (STATE)

May 12, 2011

NMLS has update the FAQs for Mortgage Call Report to include the following:

Will NMLS place a deficiency on our company license if we don’t complete the Q1 MCR filing by May 15?
No. Due to the truncated time period between the launch of functionality and the deadline for the Q1 MCR filing, the system will not begin applying license deficiencies related to the Q1 MCR until June 16.