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 Getting Started: State-Licensed Companies

Are you a federally regulated institution that needs to be registered? If so, go to the Federal Registry Resource Center.

NMLS is the system of record for non-depository, financial services licensing or registration in participating state agencies, including the District of Columbia and U.S. territories of Puerto Rico, the U.S. Virgin Islands, and Guam. All jurisdictions manage mortgage licenses, both company and individual, on NMLS. Additionally, 62 regulatory agencies use NMLS for issuing licenses in the money services business, debt, and consumer finance industries.

Getting Started

Step 1 - Determine if an NMLS account is necessary

License descriptions and checklists are available for the licenses a jurisdiction manages through NMLS. Use the map on the State Licensing page to review the licensing requirements for the state in which you are using NMLS to:

  • Apply for a license
  • Transition an existing license

The State Licensing Requirements page will provide you with license descriptions and checklist information for the license managed through NMLS. As mentioned above all jurisdictions manage mortgage licenses through NMLS. See the NMLS Expanded Industries page to determine what additional financial services industries are licensed through NMLS.

Step 2 - Complete the Company Account Request Form

A company (entity or sole proprietor) wishing to apply for a state license (or registration) or transition an existing license must first obtain an NMLS account. A company account is also necessary to apply or transition an existing branch license(s).

Completing the Company Account Request Form only take a few minutes to complete. Once the form has been submitted it will be reviewed and processed by the NMLS Entitlement Group. if validated, an account will be set up for the company and username and passwords will be issued to the Account Administrator(s) identified.

 Note for Sole Proprietors:

Sole proprietors will be required to have two accounts, one for the company record and one for the individual record. A company account request form is required to obtain a company account.

Step 3 - Complete the Company Form

Complete the Company Form (MU1) to apply for a state license (or registration) or transition an existing license. In addition to the Company Form, Individual Forms for certain control people, owners, executive officers, and branch managers may be required.

The following resources will help to complete the Company Form (MU1):

Complete Branch Forms(s) (if applicable)

Once the Company Form has been submitted, Branch (MU3) Form(s) can be completed to apply for a state license (or registration) or transition an existing license for a specific branch location. The following resources will help you complete a Branch (MU3) Form:

Step 4 - Does your company have mortgage loan originators (MLOs)?

If your company employs MLOs, the following resources can help you review MLO requirements and sponsor necessary MLOs:

Currently, all individual licenses managed on NMLS pertain to the mortgage industry. Although no individuals exclusively participating in the money services businesses, debt, and consumer finance industries will complete an Individual Form (MU4), an individual account (MU2) is necessary for all control persons of a company.

Step 5 - Are there other requirements?

The following are common requirements that may be applicable to your entity:

  • Financial Statements - Review the requirements chart to determine if requirement is applicable to the license your company holds.
  • Mortgage Call Reports - Review the requirements chart to determine if this requirement is applicable to the license your company holds.
  • Uniform Authorized Agent/Delegate Reporting - Review the list of participating agencies to determine if your license requires the report of authorized agents.
  • Annual Renewal - The renewal period for all licenses runs between November 1 and December 31 of every year.

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