Reminder

With the arrival of September, it is time for thousands of Consumer Services’ licensees to start preparing for renewals. Given the fluidity and uncertainty of the COVID-19 pandemic, this is the year to get your renewal done early!

Check Casher and Payday Lender Licensees - To prepare for renewals, review your company and branch records in the Nationwide Multistate Licensing System (NMLS) and make any necessary changes to ensure accuracy. Clear any outstanding license items. You can submit renewals starting November 1 through NMLS. The fees are NMLS system fees of $100 for the main office and $20 per branch.

Consumer Loan Licensees – To prepare for renewals, review your company and branch records in NMLS and make any necessary changes to ensure accuracy. Verify your company is current on all Mortgage Call Report (MCR) filings. Clear any outstanding license items. You can submit renewals starting November 1 through NMLS. The fees are NMLS system fees of $100 for the main office and $20 per branch.

Escrow Agent Licensees – To prepare for renewals, ensure your most recent insurance policies are on file with the Department and the policies are valid into 2021. Verify the Department has your correct mailing address. Look for renewal notices in the mail starting in mid-October and pay via check. The renewal fee is $386.55 per location if renewed before 12/31.

Money Services Licensees - To prepare for renewals, review your company record in NMLS and make any necessary changes to ensure your record is accurate. Verify your company is current on all MSB Call Report and financial statement filings. Clear any outstanding license items. You can submit renewals starting November 1 through NMLS. The fee is a NMLS system fee of $100.

Mortgage Broker Licensees - To prepare for renewals, review your company and branch records in NMLS and make any necessary changes to ensure accuracy. Verify your company is current on all Mortgage Call Report (MCR) filings. Clear any outstanding license items. For your Designated Broker, complete the required continuing education. You can submit renewals starting November 1 through NMLS. The fees are $630 for the main office and $550 per branch if renewed before 12/31.

Mortgage Loan Originator Licensees - To prepare for renewals, review your record in NMLS and make any necessary changes to ensure accuracy. Clear any outstanding license items. Complete the required continuing education. You can submit renewals starting November 1 through NMLS. You must authorize a new credit report and Criminal Background Check (CBC) when submitting a renewal. The fees are $75 plus the cost of a credit report and CBC.

Refund Anticipation Loan Facilitators (RALs) – To prepare to submit your registration, review the registration form and start compiling a list of your locations. Look for an email in mid-October regarding registration filing. Submit payment via check and email list of locations with your Electronic Filing Identification Numbers (EFIN). The fee is $35 per EFIN.