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2014 NMLS Registration Period Ended: What If Your CU Missed It?
WASHINGTON (1/3/14)--With the 2014 Nationwide Mortgage Licensing System & Registry (NMLS) renewal period ending on Dec. 31, credit unions that have not yet registered their mortgage loan originators (MLOs) must now reactivate their registration status.

If the renewal process for the upcoming year was not completed prior to Dec. 31, the MLO will have an "inactive" registration status both in NMLS and on NMLS Consumer Access. Inactive registrations must be reactivated in order to have an "Active" registration status.

For the NMLS reactivation page, use the resource link.

The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires credit union MLOs and their employing institutions to register with the NMLS and to renew those registrations on an annual basis. The NMLS registry is intended to increase consumer protection and to help financial regulators coordinate and share mortgage originator information.
 
Credit unions and other MLOs are required to ensure that their mortgage loan originators are properly registered and prohibit any employees who are not registered from performing any residential mortgage loan origination duties.
 
Registered MLOs are given a "unique identifier," which is the identification number associated with the MLO within the NMLS. The unique identifier remains the same, even when the MLO changes employment, moves, or changes his or her name, and the identifier tracks the MLO and facilitates public access to the employment history and any disciplinary or enforcement actions that have been initiated against the individual.
 
MLOs that are not registered on the NMLS are prohibited from originating residential mortgage loans. Further, institutions that fail to renew will be listed on NMLS as ineligible to originate mortgages.
Other Resources

NMLS Reactivation Page
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