I wanted to post a quick reminder about the fast approaching deadline to have your Mortgage Lending Officers (MLOs) registered with the Nationwide Mortgage Licensing System and Registry (NMLS). As you know, the initial MLO registration is required by the S.A.F.E. Act, with a deadline for completing registration of July 29th.
For a quick refresher, your credit union will need to take the following steps. First, your credit union will need to make sure that it has been registered with the MNLS website, and that you have chosen and registered your account administrators. These administrators will be in charge of monitoring and updating your MLO’s information.
Once this has been done, your credit union will need to determine who will be registered as an MLO and then gather the pertinent data that is required for registration. After the required data is entered into the NMLS, your MLOs will need to be fingerprinted as part of the required background check.
After you have completed all the necessary steps for registration, the credit union will receive a confirmation that your MLO has been registered. Along with the confirmation, your MLOs will be issued a unique identifying number that will be used by members to to research information regarding the registered MLOs.
So if you haven’t registered already or if you still have questions about the registering process, make sure you visit the NMLS website . Remember, there are only 31 days left to complete the initial registration process. So, avoid any last minute frustration by registering now!