Archive for the ‘Federal Registration’ Category

Featured Speakers at NMLS Conference

January 18, 2012

The fourth NMLS Annual Conference & Training is bringing together over 99 state regulators from 50 state agencies as well as federal regulators from the CFPB, FDIC, and NCUA.

Featured Speakers:

CFPB and the Supervision of the Mortgage Industry for Depositories and Non-depositories
Peggy Twohig
Assistant Director for Non-depository Supervision, Consumer Financial Protection Bureau
NMLS and State Licensing Update
David Cotney
Commissioner, Massachusetts Division of Banks
Mortgage Market and Economic Outlook – 2012
Doug Duncan
Vice President and Chief Economist, Fannie Mae
Mortgage Industry Views on Regulation and the Future of the Mortgage Industry
Brian Chappelle
Founding Partner, Potomac Partners

For registration, agenda, hotel info and more details, go to NMLS Annual Conference.

2012 Renewal

November 22, 2011

The 2012 NMLS Streamlined Renewal Process is underway. This year, over 16,000 companies and 115,000 state-licensed mortgage loan originators, holding licenses from one or more of the 58 state agencies using NMLS, are eligible to renew their licenses for 2012. Additionally, over 10,000 institutions and about 250,000 federally registered mortgage loan originators are eligible to renew their federal registration (roughly 100,000 MLOs are already registered through the end of 2012).

In just the first three weeks of the renewal period, a significant number of state licensees and federal registrants have completed the process. The percentage of companies and individuals who have submitted their renewal request as of November 19th is shown below. The renewal period ends December 31, but several state agencies have earlier deadlines for licenses. For more go to NMLS Renewal.

2012 renewal stats

Federal Registration Deadline is July 29 (FEDERAL)

July 19, 2011

MLOs employed by federally regulated institutions have until July 29 to comply with the SAFE Act’s federal registration requirement. The NMLS Call Center is staying open later to field calls leading up to the deadline.

Starting August 1st, consumers will be able to view a federally regulated MLO’s registration status in NMLS Consumer Access.

Institutions who still need to register their MLOs should visit the Resource Center’s Getting Started: Institutions. Individual mortgage loan originators should visit Getting Started: Mortgage Loan Originators.

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.

Federal Registration’s Initial Transition Ends July 29 (FEDERAL)

April 26, 2011

MLOs employed by federally regulated institutions have until July 29 to become actively registered on NMLS. Even though the individual MLO is responsible to register, the employing institution must also complete a number of steps in order for the MLO to become actively registered. These steps include creating the institution’s account, submitting the Form MU1R, and confirming each MLO’s employment within NMLS.

How far along is your institution? To get more information about the federal registration process for institutions, see Getting Started: Institution.