AWACSMortgage compliance intelligence from Flightline

CSBS · Press Release State Supervisors Advise Licensees to Plan Ahead for NMLS Annual Renewal · Published

NMLS annual renewal: licensees must complete updated disclosure questions and employment reporting first

Before they can submit license renewal requests in NMLS, licensees must complete the updated disclosure questions and meet the new employment reporting requirements. The renewal season starts Nov. 1 and in most states runs to Dec. 31; state-licensed MLOs must also have completed their annual continuing education.

Action requiredNo effective date statedChecks passed· adjusted automaticallyRead the release ↗ (opens in a new tab)

Loan impact

From the release text · needs review

Applies to: Applies to NMLS state licensees, including mortgage loan originators and mortgage companies, renewing their licenses for the coming year; it does not govern individual loans.

Applicability confidence
Needs review: some rows could not be matched to a quote from the source

What changed

From the release text
RequirementPreviouslyNow
Updated NMLS disclosure questions before renewalNewRequiredNew requirementLicensees must complete the updated disclosure questions in NMLS before they can submit a license renewal request
New NMLS employment reporting before renewalNewRequiredNew requirementLicensees must meet the new employment reporting requirements in NMLS before they can submit a license renewal request

What to do

AWACS interpretation · not source language

What to review: Before submitting any NMLS renewal requests in the season that starts Nov. 1, first confirm that every licensee has answered the updated disclosure questions and met the new employment reporting requirements.

Compliance

Make sure each NMLS licensee answers the updated disclosure questions in NMLS before submitting its license renewal request for the renewal season that starts Nov. 1.

Compliance

Make sure each NMLS licensee meets the new NMLS employment reporting requirements before submitting its license renewal request.

QC implications

  • Sample this season's NMLS renewal requests to confirm the updated disclosure questions were answered before each request was submitted.
  • Confirm that the new employment reporting requirements were met in NMLS for each licensee whose renewal request was submitted.
  • These requirements cover license renewal, not individual loans, so loan file sampling does not need to change.

Source and record

Version 1 · archived

Checks

  • Source verified: Passed

    The document ID, link and publication date match the official source.

  • Quotes match the source: Passed

    Every quoted passage appears word for word in the official document.

  • Requirements backed by the source: Passed, adjusted automatically

    Anything marked required is backed by the requirement language and dates in the source.

    • A detail the source does not support was removed or adjusted
    • An independent check could not confirm a detail; it was downgraded, never upgraded

  • In scope: Passed

    The document is about residential mortgage lending.

  • Format and labels: Passed

    The record follows the AWACS format and uses its standard labels.