NMLS has posted the 2013 Version of the Functional Specifications for All NMLS Approved Courses (Version 4). This new version is in the course provider section of the NMLS Resource Center under the section titled “course approvals.” The executive summary at the beginning of the document details the changes that have been made. As most readers will note, no fundamental changes have been made to the document. Changes in the 2013 version are intended to provide greater clarity and consistently in language throughout the document.
As most in the industry are aware, the CFPB will be releasing a significant number of final rules in January. The focus of NMLS in 2013 will be on ensuring course content is current to reflect all the final rule changes. We will also be applying a great deal of effort on validating course quality and delivery.
Version 4 of the NMLS Functional Specifications for All NMLS Approved Courses is effective January 1, 2013. Courses submitted for approval on or after January 1, 2013 must be in compliance with these requirements. All previously approved courses must be in compliance with the requirements by February 1, 2013.