Number of licenses:
|License Types||Count as of
|Count as of
|Mortgage Broker Main Office||369||415|
|Mortgage Broker Branch Office||151||190|
|Consumer Loan Main Office||421||380|
|Consumer Loan Branch Office||1,193||1,075|
|MLOs Active & Inactive||7,442||7,150|
DFI plans to stop issuing PDF licenses for MLOs effective mid-June.
The move is an effort to streamline the license or amendment process and end duplicative work for both DFI and stakeholders. Individuals and sponsoring companies can access a MLO’s license and sponsorship status through the individual’s NMLS record. Additionally, MLOs and their sponsoring company already receive real-time NMLS notification for all license, sponsorship and renewal approvals.
Please pass this information to all lenders or any other third parties who rely on the PDF license to verify licensure. After the move, MLOs can prove license status in one of two ways:
If you haven’t recently logged into your NMLS record, now is the time to do so. As part of the new release in April, NMLS updated the forms to reflect new fields, disclosure questions and uploading functionality. This means all licensees, company, branches and individuals, must log into their NMLS record and submit a new filing as soon as possible.
A requirement was posted May 1 on all Washington licenses which haven’t yet filed on the new form. The requirement will clear after the new form is filed. Use the Status and Deficiencies Quick Guide (pdf) to review any requirements posted to your Washington license. Failure to submit the new form will impact your ability to renew so file the new form now.
As of last week:
In just about five months, the renewal period for 2013 opens. There are steps you can take now to ensure an on-time and hassle-free renewal:
Did you know?
With the Mortgage Call Report in its second year, the majority of licensees appear to understand the information required and the deadlines for filing. The biggest challenge so far related to the MCR is the Financial Conditions (FC) component. This section collects financial information at the company level and must be filed annually by Standard MCR filers.
To date, almost 100 Mortgage Broker licensees and 42 Consumer Loan licensees are missing Financial Conditions. DFI is actively reaching out to these licensees. More information on Financial Conditions can be found on the NMLS website.
As a reminder, the MCR filing deadlines for 2012 are:
|Q1 (covers Jan-Mar 2012)||May 15, 2012|
|Q2 (covers Apr-June 2012)||August 14, 2012|
|Q3 (covers July-Sept 2012)||November 14, 2012|
|Q4 (covers Oct-Dec 2012)||February 14, 2013|