What is the NMLS?
The National Mortgage Licensing System and Registry (NMLS) is essentially a nationwide database of mortgage professionals that serves many purposes. Among other things, the NMLS: 1.Assigns a unique ID to every mortgage professional (you will see educators requiring this so they can report education credits through the NMLS) 2.Provides public access to licensing information of every mortgage professional (www.NMLSConsumerAccess.org) 3.Provides a single source for regulatory/licensing agencies to check for previously reported misconduct by a licensee. This gives regulators the ammunition to deny future applications for licensure, even across state lines.
Related Questions
- I am currently working as a mortgage loan originator, but not yet licensed under the NMLS. Should I still comply with the old continuing education requirement for my state?
- Does Real Estate Institute offer any NMLS approved continuing education courses?
- Is continuing education required to maintain my state license(s) (under the NMLS)?
