The Nationwide Mortgage Licensing System & Registry (NMLS) has provided a status of the 2012 NMLS Streamlined Renewal Process.
According to the NMLS, 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. At this time, approximately 100,000 Mortgage Loan Originators are already registered through the end of 2012.
Renewals
In the first three weeks of the renewal period, a significant number of state licensees and federal registrants have completed the process.
The renewal period ends December 31, 2011, but several state agencies have earlier deadlines for licenses.
The percentage of companies and individuals who have submitted their renewal request as of November 19, 2011 is shown below.
Chart of Renewals
November 22, 2011
November 22, 2011
Assistance
For more: go to the NMLS Annual Renewal: State or Federal.
Professional Assistance
If you need assistance with S.A.F.E. Act compliance - such as policies and procedures, compliance audits and due diligence, and examination preparation:
LENDERS COMPLIANCE GROUP is the first and only full service, mortgage risk management firm in the country that specializes exclusively in residential mortgage compliance. The firm provides risk management outsourcing to the mortgage industry, offering a full suite of hands-on and automated services in residential mortgage banking.
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