NMLS

NMLS Seeks to Report State Regulatory Actions 

The Nationwide Mortgage Licensing System & Registry (NMLS) has released a proposed rule for public comment that would allow for the reporting of state regulatory actions against companies and individuals on the NMLS consumer access website. The goal in developing the reporting functionality would be improve transparency and information available to consumers, to facilitate for the sharing of information among state regulatory agencies and to meet the SAFE Act mandate to provide easily accessible information to consumers regarding publicly adjudicated disciplinary and enforcement actions against licensed entities and individuals. Title V of the SAFE Act requires the NMLS to