Mortgage Loan Officer Renewal Issue Resolved

Last week Anthem notified credit unions of an error in the SAFE Act’s Federal Registry Renewal Activity Report, which resulted in some Mortgage Loan Originators’ status showing as exempt, when in fact it should have been eligible for renewal.

Earlier this week the National Mortgage Licensing System (NMLS) reported that it has resolved the issue. The status for all Mortgage Loan Officers is now correct. Credit unions may rely on a new report to determine who is required to renew to maintain active registration for 2013.

In other news, the NMLS has changed the processing fee for first-time registrants to $60. The new fee was implemented on July 1, 2012. The fee to renew a Mortgage Loan Officer’s registration remains at $30. The NMLS has published a complete list of its fees on its website.

 

Questions? Contact the Compliance Hotline: 1.800.546.4465, compliance@nwcua.org.

Posted in Advocacy News, Awards, Community Impact, Compliance, CUNA, Financial Education.