Nationwide Mortgage Licensing System and Registry definition
Examples of Nationwide Mortgage Licensing System and Registry in a sentence
The Nationwide Mortgage Licensing System and Registry (“NMLS”) is an online licensing system created by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators.
Each employee, agent, or other person originating, preparing, or submitting Loan Applications, or offering or negotiating mortgage loan terms on behalf of Broker, must be properly licensed in all required jurisdictions, or registered through the Nationwide Mortgage Licensing System and Registry (NMLS).
Any employee taking applications or offering or negotiating mortgage loan terms must be registered through the Nationwide Mortgage Licensing System and Registry (NMLS) and licensed or registered where required by applicable law.
Such documents have been duly and properly executed, and contain, in addition to the loan application, both the full legal name and identification number assigned by the Nationwide Mortgage Licensing System and Registry (“NMLSR”) for (i) the Originator and (ii) the individual loan originator (as the name appears in the NMLSR) who had primary responsibility for the origination of the Mortgage Loan.
To the extent required by the laws, rules or regulations of the state(s) in which Broker operates, all Broker employees, contractors and agents taking applications or offering or negotiating Mortgage Loan terms must be (i) registered through the Nationwide Mortgage Licensing System and Registry (“NMLS”) if applicable in such state, and/or (ii) licensed or registered in the applicable jurisdiction if applicable in such state.