MarketNationwide Multi-State Licensing System and Registry
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Nationwide Multi-State Licensing System and Registry

The Nationwide Multi-State Licensing System and Registry (NMLS) (originally the Nationwide Mortgage Licensing System) is the system of record for non-depository, financial services licensing or registration in participating state agencies, including the District of Columbia and U.S. Territories of Puerto Rico, the U.S. Virgin Islands, and Guam. In these jurisdictions, NMLS is the official system for companies and individuals seeking to apply for, amend, renew and surrender license authorities managed through NMLS by 64 state or territorial governmental agencies. NMLS itself does not grant or deny license authority.

History
Origins NMLS was created in January 2008 by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR), both based in Washington, DC. It began operations as a voluntary system among seven states cooperating to improve regulation of the mortgage and other non-depository industries through better supervision, streamlined licensing procedures, and enhanced consumer protection. The SAFE Act Title V of The Housing and Economic Recovery Act of 2008 (HERA), the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), required that all states license mortgage originators through NMLS, and required all licensed and registered mortgage originators to register with NMLS. The SAFE Act requires originators to complete pre-licensing education approved by NMLS. Expansion In 2017, New York regulators announced the expansion of their use of NMLS to include regulation of money transmitters. NMLS 2.0 NMLS 2.0 is scheduled for release in the second quarter of 2019. ==See also==
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