Our lenders are being featured on social media with a basic picture of themselves and what branch they operate from. The marketing department listed the lender's NMLS ID # in the promo ad which the Act doesn't prohibit: [i]MLO unique identifiers may be used on written materials or promo...
SAFE Act Social Media and Ad Disclosures 10/29/2023 Posts on the bank's social media (Facebook) that mention "our residential lending team" but include no mention of rates, terms, etc., do we need to include our NMLS number and EHL logos? Updating Inactive NMLS 12/11/2022 Does an "inactive" NMLS record need to be maintained and updated?
Is it a regulatory requirement that MLOs have their NMLS ID# on their business cards? There is some discussion here and I wanted to get other banks' views on this.
I am conducting an audit relating to the FACT Act. I have found two originators using different names on the loan documents than the actual name on the NMLS registry. For instance the NMLS registry shows the name as William A. James and the loan documents shows Bill James. Should I show t...
The NMLS Annual Renewal Period began on November 1 and ends on December 31. According to federal regulations, both institutions and most individual mortgage loan originators (MLOs) must be renewed through NMLS annually. If the renewal process is not completed prior to December 31st, the MLO is placed in an “Inactive” registration status both on NMLS and NMLS Consumer Access.
Reading through the requirements I cant find where the NMLS# HAS to be on the business cards or emails. I see where it has to be included with any written communication. Can anyone give me a reference where to find the exact requirements of where all it needs to be?
The Conference of State Bank Supervisors, which operates the NMLS, has issued a reminder of NMLS processing fee increases affecting both its state licensure and federal registration processing. The increases will be effective March 1, 2025.
The Conference of State Banking Supervisors yesterday announced that an annual review of NMLS fees has begun. The fees are reviewed annually to determine if the fee structure is properly aligned with the costs of efficiently operating NMLS for the 600,000 industry users who rely on the system to maintain their licensing or registration.
The NMLS Federal Registry News includes a notice that the NMLS has implemented an updated process for requesting Account Administrator changes for both state-licensed companies and federally regulated institutions. The forms are now available on the NMLS Call Center page on the Resource Center.
