LO licensing information to be made public through NMLS Consumer Access

LO licensing information to be made public through NMLS Consumer Access

January 13, 2010

On Jan. 25, the Nationwide Mortgage Licensing System & Registry (NMLS) is scheduled to launch a consumer focused Web site, NMLS Consumer Access, which will make information available about mortgage loan originators. NMLS Consumer Access is being launched to bring greater transparency to the mortgage industry and to comply with provisions of the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act).
The following information in a registered loan originator's NMLS record will be made available through NMLS Consumer Access:
● NMLS Unique ID
● Name (First, Middle, Last, Suffix)
● Business phone
● Business fax
● Indication as to whether you are engaged in other business as director, owner, employee, etc.
● Other names (other than the legal name, individual has used since the age of 18)
● Employment history (full legal name of companies the individual has worked for including the current employer as supplied by the individual for the past 10 years; indication if financial-services related)
● License # by jurisdiction
● License name by jurisdiction
● License status by jurisdiction
● Sponsorship for license (companies that have sponsored this individual)
● Branch location associated with the individual
Registered loan originators should review their information in NMLS that will be made publicly available to ensure that it is exactly how it will be represented. LOs are urged to coordinate with their company in submitting a filing through NMLS to regulator(s) to make any changes required. As a reminder, NMLS is a system of record for state licensure and any information submitted requires an attestation by the LO to its accuracy.
For more information on NMLS Consumer Access, click here.
For more information, visit mortgage.nationwidelicensingsystem.org.

Compliance, Originations, Residential, Technology

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