Six More States Join National Mortgage Licensing System

June 24, 2008 No Comments »

six

The Nationwide Mortgage Licensing System will expand to 14 states come July 1, the Conference of State Bank Supervisors announced Monday.

The web-based system, which allows state-licensed mortgage brokers, loan officers, and mortgage lenders to apply for, manage, and renew licenses using a uniform application process, will soon serve another six states.

They include Connecticut, Louisiana, Mississippi, North Carolina, New Hampshire, and Vermont.

The eight states presently using the system include Idaho, Iowa, Kentucky, Massachusetts, Nebraska, New York, Rhode Island and Washington.

Another five states are scheduled to use the system by year-end, bringing the total up to 19, with 42 state agencies representing 40 states committed to participate in the near future.

However, hot spots like California, Florida, Nevada, and Ohio have yet to commit to using the system.

The NMLS currently manages 5,145 companies, 3,557 branch locations, and 16,867 loan officers nationwide.

The licensing system, which state mortgage regulators have been working to develop since 2004, began operating on January 2, 2008.

(photo: carbonnyc)

Leave A Response