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NMLS News Feed

• NMLS is Being Outfitted for Non-Mortgage Industries
  The Conference of State Bank Supervisors (CSBS) and its affiliate – the State Regulatory Registry LLC (SRR) – have announced plans to enhance the use of the NMLS to accommodate state use of the System for non-mortgage, non-depository financial services industries. This will give states the ability to use NMLS to license or register entities […]
• Featured Speakers at NMLS Conference
  The fourth NMLS Annual Conference & Training is bringing together over 99 state regulators from 50 state agencies as well as federal regulators from the CFPB, FDIC, and NCUA. Featured Speakers: CFPB and the Supervision of the Mortgage Industry for Depositories and Non-depositories Peggy Twohig Assistant Director for Non-depository Supervision, Consumer F […]
• 2012 Renewal
  The 2012 NMLS Streamlined Renewal Process is underway. This year, over 16,000 companies and 115,000 state-licensed mortgage loan originators, holding licenses from one or more of the 58 state agencies using NMLS, are eligible to renew their licenses for 2012. Additionally, over 10,000 institutions and about 250,000 federally registered mortgage loan originat […]
• NMLS Annual Conference
  The fourth NMLS Annual Conference & Training will be held in Scottsdale, Arizona on February 6-9, 2012. With over 400 attendees last year, the NMLS Annual Conference has become a must attend event for banks and nonbank companies that employ mortgage loan originators and are interested in state and federal mortgage supervision. The 2012 Conference […]
• Continuing Education for 2011 (STATE)
  The SAFE Act requires state-licensed MLOs to complete 8 hours of annual continuing education. Some states have additional requirements (see the State-Specific Education Requirements Chart). So far in 2011, MLOs have completed 270,471 hours of continuing education (CE). Roughly 40% of the estimated 85,000 MLOs who are required to complete CE are now compliant […]

Mortgage Daily News Feed

• Refis Strengthen Again as Rates Plummet
  It was the third week in a row that inquiries for refinances were higher as mortgage rates continued to descend to depths not seen before. All signs point to even lower mortgage rates in next week's report. But at least one category that did not participate in the rally was purchase financing. A 4 percent increase was recorded from the prior week for th […]
• Freddie Sued by Its Biggest Mortgage Insurer
  A lawsuit has been filed against the Federal Home Loan Mortgage Corp. and its conservator-regulator by the secondary lender's biggest mortgage insurance counterparty. At issue is the interpretation of the maximum coverage for a pool of loans.The lawsuit was filed in U.S. District Court for the Eastern District of Wisconsin.In addition to Freddie Mac, th […]
• MGIC Loosens Restricted Markets Requirements
  Credit and debt-to-income ratio requirements have been eased in the country's most struggling real estate markets by Mortgage Guaranty Insurance Corp. The move is a result of market improvement.Current guidelines require a minimum credit score of 720 in markets where restricted underwriting guidelines are in place.The limitation applies to loans up to $ […]
• Record Mortgage Rates Poised for Another New Low
  The good news is that fixed mortgage rates fell to the lowest levels on record and are already on their way to setting another new low -- with a sub-3 percent rate in site for the 15-year mortgage.The bad news is that the stock market is on its way to the lowest point this year. There were no records set, however, for adjustable-rate products.At 3.79 percent […]
• Record Low for 10-Year Treasury Yield
  Thanks to the sovereign debt crisis in Europe, the yield on the benchmark 10-year Treasury note fell to the lowest level on record.The 10-year yield closed at 1.70 percent Thursday, according to data from the Department of the Treasury.The yield sank 6 basis points from Wednesday. […]