Comment Sought on Revised NMLS Reports, Forms

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MORTGAGE EXPERT
5 · 04 · 15

People in the mortgage industry have an opportunity to provide input on a revised call report and uniform state licensing forms.

State mortgage regulators have developed uniform company, branch and individual licensing forms for the Nationwide Mortgage Licensing System.

The forms are intended to create a national standard of information collection for company, branch, and individual licensing that has been agreed to by participating state agencies.

Regulators hope to collect enough information from the forms to decide on applications for new and continuing licenses.

The State Regulatory Registry LLC
on Friday issued a statement requesting public comment on the new forms.

Six questions are posed by the agencies.

It’s the fourth time public comment has been sought on the forms.

In addition, the regulators, who oversee mortgage activity for non-bank firms and originators, have are seeking comment on a new NMLS Mortgage Call Report.

The call reports provide uniform financial information on licensees as well as data on originations and other mortgage activities.

Regulators use the call reports to
determine examination schedules, calculate assessments, and monitor compliance with state laws and the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 — or SAFE.

“A goal of both the forms and the NMLS Mortgage Call Report is that, over time, they include all necessary information required by regulators such that requirements do not need to be submitted and tracked outside NMLS,” the regulators’ statement said. “With each revision of the forms since 2008, achievement of this goal has been furthered, as is evidenced by the significant reduction in the items on state specific checklists over time.”

The six questions begin on page four here:
www.nationwidelicensingsystem.org

NMLS users can find the forms online at:
http://mortgage.nationwidelicensingsystem.org/slr/common/policy/Pages/default.aspx

The mortgage call report is at:
http://mortgage.nationwidelicensingsystem.org/slr/common/mcr/Pages/default.aspx

Comments should be submitted to [email protected].

Author

Mortgage Daily Staff

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