Mortgage Lenders, Brokers, Loan Correspondents, Loan Originators and Mortgage Consumer Discount Companies
Mortgage lenders directly or indirectly originate and close mortgage loans with their own funds in the primary market for consideration.
Mortgage brokers directly or indirectly negotiate or place mortgage loans for others in the primary market for consideration.
Mortgage loan correspondents directly or indirectly originate and close mortgage loans in their own names utilizing funds provided by a wholesale table funder or other funding source and simultaneously assign the loans to the wholesale table funder.
Mortgage consumer discount companies are consumer lenders that engage in mortgage lending.
Mortgage originators are individuals who take mortgage loan applications or offer or negotiate terms of mortgage loans for compensation or gain.
Changes to FBI fingerprint criminal background
Licensees who are required to provide
their fingerprints to complete a federal criminal background check should be
aware that this service will be provided by a new supplier. Idemia (formerly
MorphoTrust USA, LLC), will take over the fingerprinting services contract
formerly held by Gemalto (formerly Cogent).
Licensees who are not registered and
fingerprinted before November 18, must wait until November 28, to receive those
services through the new provider. The only exceptions that will be made during
that time frame will be for individuals who have an issue with a fingerprint
taken prior to November 18, and will be reprinted by November 27. Those
individuals who do not get their reprint by November 27, will need to
re-register with the new provider and will have 90 days to get their reprint at
Federal Government Principles on Responding to Cyber Incidents
A Presidential Policy Directive (PPD-41) released on July 26, 2016, sets forth principles governing the federal government’s response to any cyber incident, whether involving government or private sector entities. For significant cyber incidents, PPD-41 also establishes lead federal agencies and an architecture for coordinating the broader federal government response. Learn more: http://bit.ly/2aeAUtZ
The Federal Financial Institutions Examination Council (FFIEC) members have issued a revised Management booklet, which is part of the FFIEC Information Technology Examination Handbook (IT Handbook). The IT Handbook is available here.
The Department of Banking and Securities uses NMLS to manage money transmitters licensees. Through NMLS, your company will be able to apply for, amend and renew your license/registration authority conveniently and safely online. In order to use NMLS, current licensees must enter their company information onto NMLS by creating a base record and obtaining a unique company identifier.
Licensees should direct those who inquire about its license status to the NMLS Consumer Access website at www.nmlsconsumeraccess.org