Compliance Reminders for the End of the Year

Credit unions have until Dec. 31 to register or renew their Mortgage Loan Originators and complete both a SAFE Act and ACH audit.

Reminder: NMLS Annual Renewal Period Ends Dec. 31

The SAFE Act requires residential mortgage loan originators who are employed by agency-regulated institutions to register with the Nationwide Mortgage Licensing System and Registry. The annual renewal period runs through the end of the year.

Disciplinary Action Functionality Added to NMLS Registry

The federal registration component of the Nationwide Mortgage Licensing System and Registry was updated last week to accommodate the collection of information about certain disciplinary, enforcement, and other actions against a mortgage loan originator.

CUNA Clears Confusion on SAFE Act Deadline

Credit unions and MLOs that registered with the NMLS last year must complete annual SAFE Act independent testing by the end of the year, according to CUNA, and not by July 29, which was the 2011 deadline for completing initial NMLS registration.

Reminder: NMLS Annual Renewal Period Ends Dec. 31

The SAFE Act requires residential mortgage loan originators who are employed by agency-regulated institutions to register with the Nationwide Mortgage Licensing System and Registry. The annual renewal period runs through the end of the year.

Compliance Question of the Week

Am I required to ‘display’ the individual NMLS identifier number of our MLOs?

Compliance Question of the Week

Am I required to ‘display’ the individual NMLS identifier number of our MLOs?