Mortgage Servicer Licensing

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8 04, 2020

NMLS Mortgage Control Person Definition

2020-04-09T17:21:02-07:00April 8th, 2020|Licensing Requirements, Mortgage Broker Licensing, Mortgage Companies, Mortgage Lender Licensing, Mortgage Servicer Licensing, NMLS|

Here is the NMLS Policy on the definition of Control Person. But keep in mind that each state can make their definition broader than this if they desire. Owners of 10% or moreSenior Executive Officers/Directors/LLC Managers On page 37 of the NMLS Policy Handbook, there is a definition of Executive Officers: https://mortgage.nationwidelicensingsystem.org/slr/common/policy/NMLS%20Document%20Library/NMLS%20Guidebook%20October%202019%20Current%20Online.pdf Corporate Governance – as [...]

27 06, 2011

Texas Mortgage Servicer Licensing now required

2015-05-23T08:09:59-07:00June 27th, 2011|Mortgage Licensing News, Mortgage Servicer Licensing|

On June 17, Texas Governor Rick Perry signed into law S.B. 17, the Residential Mortgage Loan Servicer Registration Act, which requires all residential mortgage loan servicers in Texas to register with the Commissioner of the Texas Department of Savings and Mortgage Lending (Commissioner). The Mortgage Servicer Registration is required for companies acting purely in a [...]

23 06, 2011

Montana Mortgage Servicer Licensing now required

2017-01-23T19:53:11-08:00June 23rd, 2011|Mortgage Licensing News, Mortgage Servicer Licensing|

On May 5, 2011, Montana adopted House Bill No. 90, which made numerous revisions to the Montana Mortgage Broker, Mortgage Lender, and Mortgage Loan Originator Licensing Act (Act) and changed its title to the Montana Mortgage Act. The revisions included requirements for the licensing and regulation of mortgage servicers. The effective date of the changes [...]

4 05, 2010

Washington Adds Servicing Licensing Through NMLSR

2015-05-23T08:11:03-07:00May 4th, 2010|Mortgage Licensing News, Mortgage Servicer Licensing|

Washington Mortgage Loan Services must obtain a consumer license by July 1, 2010. The state of Washington added additional requirements of servicer licensing and reporting responsibilities under the Consumer Loan Act and clarification of loan modification services regulated by the Department of Financial Institutions under both the Consumer Loan Act and the Mortgage Broker Practices [...]

24 12, 2007

What Services Does a Mortgage Licensing Company Offer?

2017-01-23T19:53:18-08:00December 24th, 2007|Mortgage Broker Licensing, Mortgage License, Mortgage Licensing News, Mortgage Servicer Licensing|

I have had clients tell me that licensing a mortgage company nationwide was one of the most challenging projects that they have ever taken on. So why is it so challenging, and what can you do to make the process easier? What does a Mortgage Licensing Company do to make this process easier? To explain [...]

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