Every state has its own set of rules/criteria for every license. In order to comply and submit a clean application it is a good idea to work with our company to make sure your license application is submitted accurate to ensure a faster approval.
This depends on a couple of factors – the state application to which we are applying, and your ability to send us the application components quickly and efficiently. Some states require quite a bit more items than others. This also depends on whether the application is for the company or an individual within the company. A quick consultation will determine your needs as well as a timeline for getting those needs covered.
You can find this out by either looking at the requirements for each license on the NMLS, or you can come to us for a simple consultation. We have enough daily experience and working knowledge of the NMLS, state requirements, and the general licensing process that we would be able to find your answers much quicker than the average Mortgage Industry Representative seeking requirements blindly. Check out the Consulting Services section of this website to find out more information on consulting services to ensure your compliance today!
Given the way the NMLS is set up to require activity on the company side to complete even an individual license application, we do not currently have the capability of filing individual license applications without the company’s detailed, sensitive information including username and password. In order to be assigned a 3rd party company username and password to complete such requirements, your employer would have to be a client. The best way to remedy this is to discuss with your supervisor the possibility of outsourcing your licensing needs to a third party company like us.
If you opt into our Licensing Maintenance program, we will keep you informed around every corner. We will ensure that you are notified by more than just an NMLS notice that your due dates are approaching.
Not entirely. While it IS true that you must take your CE’s every year, you must still file and pay for renewal of your state MLO licenses on the NMLS. Also, certain states require documentation outside the NMLS. For example: An MLO who is licensed in the state of Arizona will need to complete their 8 hours of Continuing Education (Including a 1 hour AZ specific class), file for renewal on the NMLS, and send the AZDFI your renewal fee form and a check for your yearly renewal which has historically been $150. Not every state has requirements outside the NMLS, but the minimum that must be done for those states that do not are CE hours, and submission of a renewal request on the NMLS.
No, but that is a common misconception. The NMLS is only an engine for licensure. Your NMLS# is your registration within the system that each state has agreed to use. So, when you enter all information in the NMLS for a license application to a particular state, that information is saved on your personal account or MU4. If you choose to pursue a license in another state, the second state will then already have most of your information through the NMLS and your personal NMLS#.
Because there is a lot of information we need from several people in a company for licensing, it generally works best if we make our requests through one individual to keep our requests minimal. Should we need confidential information we will work directly with the individual.
Once in a while a state will waive a request, but it is rare and there must be a compelling reason. If you refuse to provide the information, then it is best not to attempt to apply for a license in certain states. We can help answer those questions in our initial consultation.
No. We take time to create interactive forms of the questionnaires and other forms to be completed by our clients for your convenience so you can type directly to the form itself. If you handwrite your form, there is too much risk for error – in order to ensure that we provide quality service with the most accuracy possible, we return any handwritten forms to be typed and/or re-submitted correctly through the email submission process. We are happy to walk you through this process if you’re having trouble.
Each state is unique in its requirements for personal information. With the implementation of the NMLS most of this information is readily available to the regulators, however, certain states wish to go beyond the NMLS information. Most of the information requested is as a result of state legislation.