NMLS Website Hopes to Bring Greater Transparency to Mortgage Industry

Reverse mortgage loan originator licensing information will be made publicly available through the Nationwide Mortgage Licensing System Consumer Access on January 25, 2010.

According to the NMLS Resource Center, the website is being launched to bring greater transparency to the mortgage industry and to comply with provisions of the SAFE Act.

Developed for consumers, the searchable website will allow the public to view information concerning state-licensed companies, branches, and individuals registered with NMLS. 

The following information will be made available through NMLS Consumer Access:

  • NMLS Unique ID
  • Name (First, Middle, Last, Suffix)
  • Business Phone
  • Business Fax
  • Indication as to whether you are engaged in other business as director, owner, employee, etc
  • Other Names (other than the legal name, individual has used since the age of 18)
  • Employment History (full legal name of companies the individual has worked for including the current employer as supplied by the individual for the past 10 years; indication if financial-services related)
  • License # by Jurisdiction
  • License Name by Jurisdiction
  • License Status by Jurisdiction
  • Sponsorship for License (companies that have sponsored this individual)
  • Branch location associated with the individual

Initially, NMLS Consumer Access will not contain enforcement actions taken by regulators against licensed companies and individuals.  However, this functionality is being built into NMLS and will be made available through NMLS Consumer Access at a future date.

In addition, NMLS Consumer Access will not contain information concerning federally registered mortgage loan originators until the registration requirements are finalized by the Federal banking regulators.

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