Number of licenses:
|License Types||Count as of
|Count as of
|Mortgage Broker Main Office||336||369|
|Mortgage Broker Branch Office||141||151|
|Consumer Loan Main Office||452||421|
|Consumer Loan Branch Office||1,564||1,193|
|MLOs Active & Inactive||9,203||7,442|
An improved way to view MLO education is coming in NMLS on June 24. The year by year, multiple click education record is being replaced by a single course completion and compliance record in Composite View for MLOs. This single record lists all courses taken, broken down by year and highlighted with compliant or pending icons. It looks similar to a college transcript.
The new completion record also features federal and state-specific education requirements displayed individually. This allows licensees to easily see the achievement of education compliance in any state. It also enables DFI to prevent application or renewal filing until all Washington-specific education is posted to a MLO’s NMLS record.
More information on education changes can be found in the 2013.2 Release Portfolio (pdf).
The end of the year and renewals may be several months away but now is the time to complete your continuing education. Courses are available year round and are listed in the Course Catalog on the NMLS Resource Center. Taking education in the summer months ensures the education will be posted when you prepare to renew, keeps you out of the last minute crunch and is one less thing to do during the busy holiday season.
Starting this July, NMLS will set a license item on each approved MLO license which hasn’t met education requirements for renewal. The license item automatically removes once the required education is posted to NMLS.
A few additional Continuing Education items to note:
The number of new Mortgage Broker, Consumer Loan and MLO applications is soaring in 2013. In April alone, DFI received 386 MLO applications compared to 146 from the previous April. There are many reasons for the increase, including the launch of the Uniform State Test. To help us achieve timely processing of these applications, we need your help.