Plan Ahead to Meet NMLS Requirements

Complete CE and License Renewal by December 31

It’s that time of the year again—planning for the renewal of your NMLS License. The renewal period begins November 1, 2013, with all requirements to be completed by December 31, 2013. Following are the steps you need to follow.

Step 1 – Complete your annual continuing education. The SAFE Act’s Successive Year Rule requires mortgage loan originators to complete eight hours of CE every year and mandates that an originator may not take the same course two years in a row. (See information on a CE course in the Renewal Resources section below,)

Step 2 – Prepare for the renewal process. NMLS’ Renewal Handbook will help you prepare to request the renewal of licenses in NMLS. It provides detailed instructions for both individuals and companies. For additional help, see the Quick Guides and*NEW* Renewal Videos for MLOs at the end of this article.

Step 3 – Log in to NMLS to be certain your record is current. Make sure you can log in, with your user name and password. Licenses must be in an approved status in order to request renewal. Use the Preparing for Renewal Quick Guide to review the information on record and to confirm your license/registration status.

If you need help recovering your password and/or username to log into NMLS, utilize the “Forgot your User Name/password” hyperlinks on the NMLS login screen. A brief video is available to help with this process.

Step 4 – Review deadlines and requirements. You need to review appropriate state(s) renewal requirements, deadlines, fees and other details. You can download information for all states using the following spreadsheets: 1.  Renewal Deadlines Chart, 2.  Renewal Fees Chart

Step 5 – Request renewal. Beginning November 1st, licensees can log into NMLS, click the Renewal Tab and request renewal of their licenses, or indicate the licenses they don’t intend to renew.

You should consult with your company to confirm who will be submitting and paying for the renewal request in NMLS. In some cases, the company may wish to submit the renewal request on your behalf (individuals must attest to their record first.)

Renewal Resources

The following quick guides and videos are available from NMLS to help you complete renewal:

  • Companies
    • Company Renewal: Guides company account users through the process of submitting company/branch licenses for renewal (and how to recall a “Do Not Renew” request). Includes instructions on how to view the status of renewal requests. Quick Guide
    • Renewal Roles: Leads the company account administrator through the process of granting other company users the Renewal Role in NMLS. Quick Guide
    • Helping MLOs Manage the Renewal Process: See the videos and quick guides below.
  • Individuals
    • Attest for Company: Provides instructions for an individual to attest to their renewal to allow their company to pay for and submit the individual renewal request. Quick Guide Video
    • Attest and Pay: Guides the individual through the process of submitting licenses for renewal. Includes instructions on how to view the status of submitted renewals. Quick Guide  Video
    • Do Not Renew: Helps an individual to indicate to their regulator that they do not wish to renew a license in NMLS (and how to recall a “Do Not Renew” request). Quick Guide| Video

In addition, to assist with continuing education, our education partner, OnlineEd, has an 8 hour SAFE Comprehensive: 2013 Originator Essentials.  You can take the course online at your convenience for $69 plus NMLS Fees.  Register now and complete it by November 1, 2013. (If you are licensed in Calif., it counts for both BRE and NMLS Credit.) For more information, visit http://www.onlineed.com/pages/landers/Mortgage-Training-Center.php?ref=1033 

Ginger Bell is an NMLS- approved instructor and has developed training programs for a variety of companies. She received the Presidential Award from the California Association of Mortgage Professionals and the Oregon Association of Mortgage Professionals. Contact her at 503-318-6152, www.go2training.com or www.go2comply.com

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