Quick Tips for When Credit Banking Resumes on Monday

Approved course providers will be able to resume reporting course completions after 10am ET on Monday, June 24.  Here are some quick tips to help make the new process run smoothly:

– Unlike in PULSE portal, the new EMS will validate the full last name of an MLO.

– During the credit banking process, the EMS does a validation check to ensure the MLO’s NMLS ID and full last name match.  If an NMLS ID or last name is wrong, the EMS will identify any incorrect information so it can be corrected.  If you elect to continue the process without making any corrections, the EMS will proceed to credit bank against those MLOs with matching NMLD ID numbers and last names and will not process and/or charge for any that is incorrect. 

– The maximum number of MLOs that can be credit banked at a time is 100.

– You can credit bank by manually entering NMLS ID numbers and the MLO’s last name or you can upload a .csv file.

– Unlike in the PULSE portal, every OSS courses must have at least one offering associated with the course order to credit bank. The offering is used as an internal system reference point for credit banking.  If your OSS course does not already have an offering set-up, please set one up as soon as you log into the EMS.  The completion date of the offering and the date the MLO completed the course do not have to match (you’ll enter the course completion date in the system during the credit banking process).  

– The template for the .csv file is located in the lower left corner of the EMS along with all the updated User Guide for Credit Banking (and the other processes). 

– If paying using ACH, under account type, choose “personal checking.”  Personal checking works for both personal and business accounts. 

– Please be sure your e-mail address is correct in your account profile.  After you have completed the credit banking process, the EMS will e-mail you a receipt which is your confirmation that the credit banking was successfully completed.

– NMLS has put new processes in place to address any credit banking problems.  Incorrect credit banking is to be reported to Rich Madison (rmadison@csbs.org). 

– Lastly, any Late CE, including for years 2010 and 2011, is to be credit banked using the EMS just like a regular course. 

Along with the new credit banking functionality, NMLS is launching a new course completion record and will begin tracking compliance for state-specific education.  FAQs about how NMLS will be tracking education compliance are in the front pages of the State Specific Education Charts of PE and CE.  NMLS has also posted an updated reference for how to view the new course completion record.

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