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InfoSight Spotlight: NMLS annual review period underway

In the latest edition of the InfoSight newsletter, credit unions receive notification that the Nationwide Multistate Licensing System & Registry (NMLS) annual renewal period began Nov. 1 and ends Dec. 31. According to federal regulations, both institutions and most individual mortgage loan originators (MLOs) must be renewed through NMLS annually. If the renewal process is […]

In the latest edition of the InfoSight newsletter, credit unions receive notification that the Nationwide Multistate Licensing System & Registry (NMLS) annual renewal period began Nov. 1 and ends Dec. 31. According to federal regulations, both institutions and most individual mortgage loan originators (MLOs) must be renewed through NMLS annually. If the renewal process is not completed prior to Dec. 31, the MLO is placed in an “Inactive” registration status both on NMLS and NMLS Consumer Access.

Inactive registrations must be reactivated in order to have an “active” registration status. NMLS requires a $30 processing fee for each MLO seeking to renew or reactivate a registration. MLOs who are submitted for renewal but did not complete renewal attestation prior to  Dec. 31 need to be reactivated, incurring an additional $30 processing fee at the time of reactivation.

Read the full InfoSight newsletter here.

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About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

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