Transitioning Onto The NMLS
All companies holding Consumer Loan Company Licenses in Washington have until September 1, 2008 to transition their license onto the Nationwide Mortgage Licensing System (NMLS).
Before September 1, 2008, all licensed Consumer Loan Companies must complete all relevant forms through the NMLS and submit them to DFI for acceptance.
How To Transition An Existing Washington Consumer Loan Company License Onto The NMLS
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If Your Company Is Registered With The NMLS
- Gather all of your company's Washington license numbers.
- Review Washington's transition plan.
- Log into your NMLS account.
- Add Washington to your License/Registration section of Form MU1.
- If you have multiple locations licensed in Washington, you will also need to add Washington to the License/Registration section of Form MU3 for each branch location.
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If Your Company Is Not Registered With The NMLS
- Gather all of your company's Washington license numbers.
- Review Washington's transition plan.
- Complete the NMLS company account request form.
- Complete a company record (Form MU1).
- Complete a record for each Control Person (owners, executive officers and branch managers) (Form MU2).
- Complete a record for each licensed branch office (Form MU3).
About The NMLS
DFI uses the NMLS for all Consumer Loan Licenses. The NMLS was developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators. The goal of the NMLS is to streamline and improve the licensing process for companies, branches, and individuals that hold licenses in multiple states. Learn more about the NMLS.
Contact Us
If you have any questions please feel free to contact us by phone at 360-902-8703 or toll free at 1-877 RING DFI (746-4334). You may also email us at dcs@dfi.wa.gov.
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