Monthly Archives: January 2013

Reminder: Annual NMLS Conference and Training Feb 25-Mar 1


The fifth NMLS Annual Conference and Training will be held February 26 to March 1, 2013 in San Antonio, TX.  The conference is designed for both new and experienced users of the Nationwide Mortgage Licensing System and Registry (NMLS) and is attended by state and federal regulators, licensees, registrants, members of the media, education providers, and other interested parties. Conference details and the agenda can be found at: http://www.cvent.com/events/nmls-annual-conference-training/event-summary-e5a8c7352a0841f0acc9838579e35928.aspx

New Education Management System (EMS) and UST Webinar for Course Providers Feb 6


NMLS will host a conference call and webinar with approved course providers to provide details of the new Education Management System (EMS) and the new Uniform State Test (UST) on Wednesday, February 6 from 2-3 pm ET.  Organizations wishing to participate in the session are requested to respond to Rich Madison (rmadison@csbs.org) no later than February 5.  Call-in details and a link for the webinar will be sent on February 5.

NMLS Closed Monday, January 21 for MLK Holiday


NMLS offices will be closed on Monday January 21 in observance of the Martin Luther King, Jr. holiday.  Normal office hours will resume on Tuesday, January 22.   Late CE courses completed and reported to NMLS between Saturday, January 19 and Monday, January 21, will be credit banked on Tuesday, January 22.

Uniform State Test Webinar for Course Providers Jan 23


NMLS will host a conference call and webinar with approved course providers to explain and provide details of the new Uniform State Test (UST) on Wednesday, January 23 from 2-3 pm ET.  Organizations wishing to participate in the session are requested to respond to Rich Madison (rmadison@csbs.org) no later than January 22.  Call-in details and a link for the webinar will be sent on January 22.

Annual NMLS Conference and Training Feb 25-Mar 1


The fifth NMLS Annual Conference and Training will be held February 26 to March 1, 2013 in San Antonio, TX.  The conference is designed for both new and experienced users of the Nationwide Mortgage Licensing System and Registry (NMLS) and is attended by state and federal regulators, licensees, registrants, members of the media, education providers, and other interested parties. The Conference provides an invaluable exchange of information among NMLS users.

Some highlights of the conference agenda include:

  • NMLS Ombudsman Meeting:  Timothy Siwy, Deputy Secretary of Non‐Depository Institutions for the Pennsylvania Department of Banking and Securities, serves as NMLS Ombudsman.  The NMLS Ombudsman Meeting is an opportunity for any NMLS user to raise issues concerning NMLS or state regulation of financial services managed on NMLS.
  • State and Federal Collaboration: Paul Sanford, Acting Assistant Director of Supervision Examinations at the Consumer Financial Protection Bureau (CFPB), will offer his thoughts on the necessity of state‐federal supervisory coordination.
  • NMLS Today and Tomorrow:  Bob Entringer, Commissioner of the North Dakota Department of Financial Institutions and Chairman of the State Regulatory Registry LLC (SRR), David Cotney, Commissioner of the Massachusetts Division of Banks, and Bill Matthews, President and CEO of SRR, will discuss NMLS developments, such as expansion to other non‐depository financial services providers and the development of a uniform state test for mortgage loan originators seeking a state license.
  • Lunch Speech by Ian Jukes:  A teacher, administrator, writer, consultant, university instructor and keynote speaker, Ian Jukes is the Director of InfoSavvy Group, an international consulting group.
  • Course Provider Session: Will cover topics specific to the new education management system, NMLS course compliance initiatives, and the UST.

To date, 330 attendees have registered, including state regulators from 48 states and Puerto Rico.

To register, go to http://www.cvent.com/events/nmls-annual-conference-training/event-summary-e5a8c7352a0841f0acc9838579e35928.aspx

 

New Education Management System – Progress Report


NMLS is in the process of preparing to launch a new education management system (EMS).  Beginning in May, course providers will begin to transition from the existing Pulse portal to a new EMS.  The transition period will run through late June, and we’ll provide more details about the transition process in February.  In addition to managing application processing, course offerings, and credit banking, the new EMS will incorporate a clean user interface and new features like the ability to use credit card on file (eliminating the need to enter card information multiple times), receive pending renewal reminders, and track course application status.

The launch of the new EMS will also coincide with significant changes that are also being made to the way education compliance is being tracked in NMLS.  Beginning in June, the system will track and display compliance for state-specific education (something that previously had to be done by state regulators).  The MLO course completion record is also being redesigned to display all education on a single “transcript” which will make it easier to view previous courses taken, see existing requirements, and track education compliance for every license an MLO may hold.

Unfortunately, the above work does require us to spend time working with vendors to define requirements and test software.  Accordingly, we ask for your patience as course reviews and response times are likely to take a little longer than usual.  Course providers are requested to please allow at least 15-20 business days for initial course application reviews and 2 weeks for re-reviews.  However, you can help to reduce delays by doing the following:

  • Upload all the required material for new and renewal course applications within one week of the Basecamp project opening.
  • Provide detailed responses to the application questions and ensure the materials are accurate, detailed, and organized.  For online courses, check to make sure the logins being provided work and provide access to the correct course with the correct settings.
  • Review and re-review the course content before submitting. Check that all laws, regulations, sources, etc. are cited and the citations are current and verifiable.
  • Proofread content and address spelling and grammatical errors for clarity.  Courses that are found to have a significant number of spelling and grammatical errors will be returned without review.
  • Ensure case studies are contextual to the learning objectives and are used to assess the student’s understanding through application in real world situations. Case studies in state- specific courses must apply to the state laws and regulations being covered.
  • Track all revisions, additions and deletions with highlighting, redlining, etc. to call out changes for resubmissions and renewals. This takes out the guess-work for the reviewer.

Additional information about the new EMS and other changes that are likely to impact the provider community will be announced in the coming days and weeks.  Stay tuned!

Credit Banking to the Correct Year


NMLS has received several questions about which year to report course completions.  The following is intended to provide clarification:

If an MLO completed a course on or before December 31, 2012, then the course may be credit banked for 2012.

If an MLO completed a course on or after January 1, 2013, the course is to be credit banked for 2013.

The SAFE Act is specific that CE credit may only be applied to the year in which it was completed.  Accordingly, if an MLO began a course in 2012 but does not complete it until January 2, 2013, then the course credit must be applied to satisfying the 2013 CE requirement.

Late CE courses are the only courses that may be taken to make-up CE for 2010, 2011, or 2012.  If an MLO started a course in 2012 but did not complete it, the course should be treated as a “non-complete” and the MLO will be required to take a Late CE course to make-up the previous year’s requirement.

Question about credit banking should be directed to Rich Madison (rmadison@csbs.org) or Alan Ridenour (aridenour@csbs.org).