The Nationwide Multistate Licensing System (“NMLS” or the “System”) 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. In these jurisdictions, NMLS is the official system for companies and individuals seeking to apply for, amend, renew and surrender license authorities managed through NMLS by 66 state or territorial governmental agencies. NMLS itself does not grant or deny license authority.
Fifty-nine state agencies use NMLS for mortgage licensing, while 55 use the system to manage licensing for other nonbank entities (e.g., money services businesses, consumer finance and debt).
NMLS is also the system of record for the registration of depositories, subsidiaries of depositories, and mortgage loan originators (MLOs) under the Consumer Financial Protection Bureau’s Regulation G (SAFE Mortgage Licensing Act – Federal Registration of Residential Mortgage Loan Originators), published December 19, 2011.
In 2006, the Conference of State Bank Supervisors (CSBS), on behalf of state regulators and in cooperation with the American Association of Residential Mortgage Regulators (AARMR)1, formed the State Regulatory Registry LLC (SRR), a limited liability corporation, to oversee the development and operations of NMLS as a licensing and registration system for the non-depository financial services industries. NMLS operations began in January 2008.