Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
735,718-296
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.94%0.01

States Launch National Mortgage License Repository

The Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators said Wednesday that they have launched a national Web-based mortgage licensing registry. Called, creatively enough, the National Mortgage Licensing System, the new registry has the initial participation of seven states: Idaho, Iowa, Kentucky, Massachusetts, Nebraska, New York and Rhode Island. The CSBS said it expects all 50 states to transition onto the platform, with more than 500,000 company and professional licensees in the registry. Modeled upon the registry used to regulate securities brokers and dealers, the sponsors behind the system said in a press statement that they believe the new registry is an important step to coordinate mortgage industry regulation across state lines. The move comes as federal legislators look to issue increasingly stringent policies regarding primary and secondary market activities in mortgage banking. “This nationwide system will dramatically change the way the mortgage industry is regulated and will drive standardization of state licensing and lending requirements,” said Bill Matthews, president of State Regulatory Registry LLC, CSBS’s subsidiary that operates NMLS. “A major goal of NMLS is to enhance accountability among mortgage brokers and non-depository lenders by having one system, accessible by all state regulators, that tracks licensure, affiliations, employment history and/or enforcement actions for affected parties,” he noted. The registry is accessible at http://www.stateregulatoryregistry.org/NMLS.

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please