Need State Mortgage Licenses or Exemptions?

The NMLS Federal Registry was created at the direction of federal banking regulators to fulfill the registration requirement of federally chartered or insured institutions and their mortgage loan originators in compliance with the Consumer Financial Protection Bureau's rules and the Secure and Fair Enforcement for Mortgage Licensing Act ("SAFE Act"). The NMLS Federal Registry Resource Center provides institutions and mortgage loan originators with tools and guides for completing the mandated registration process in NMLS. Questions about the Federal Rule or the SAFE Act should be directed to an institution's primary federal regulator.

Getting Your Mortgage License as a Broker (Mortgage Broker License)

To gain access to the Nationwide Mortgage Licensing System (NMLS) for the first time, a company must submit a form requesting an account. Once the form has been submitted it will be reviewed for accuracy. If validated, an account will be set up for the company and User IDs and passwords will be issued to the account administrator(s) identified.

Is Your Mortgage Broker License Compliant with the National Mortgage Licensing System

The mortgage company should not to rely upon their response and has the burden of proving an exemption. However, when a state rules that based upon the facts presented that it does not think that the mortgage company is required to obtain a license, you'll need Herb Thomas's research to prove that this is correct. The inquiry is a due diligence request that cannot be accomplished by any other source or method. It should at least provide a "chilling effect" on the state licensing enforcement department from pursuing charges of "unlicensed mortgage activities" when the state said a license was not required. The mortgage company must make a business decision whether to rely upon the state response or pursue a license.

Tips When Applying for Your Mortgage License (Mortgage Originator License)

Simply contact us for an introductory consultation into what tips and extras you can learn while applying for your mortgage license. Our consultation helps you to avoid the dreaded fees & registrations you wouldn't have known about any other way.