Conference of State Bank Supervisors Inc

THE LARGEST PROGRAM IS THE ONGOING OPERATION OF NMLS. NMLS IS A WEB-BASED SYSTEM THAT ALLOWS STATE-LICENSED NONBANK COMPANIES, BRANCHES AND INDIVIDUALS IN FINANCIAL SERVICES TO APPLY FOR, AMEND, UPDATE OR RENEW A LICENSE ONLINE FOR ALL PARTICIPATING STATE AGENCIES USING A SINGLE SET OF UNIFORM APPLICATIONS. NMLS BRINGS GREATER UNIFORMITY AND TRANSPARENCY TO NONBANK FINANCIAL SERVICES WHILE MAINTAINING AND STRENGTHENING THE ABILITY OF STATE REGULATORS TO MONITOR FINANCIAL SERVICES AND PROTECT THEIR CITIZENS. MORTGAGE LOAN ORIGINATORS EMPLOYED BY INSURED DEPOSITORY INSTITUTIONS OR THEIR SUBSIDIARIES ARE REGISTERED THROUGH NMLS IN ACCORDANCE WITH FEDERAL REGULATIONS. NMLS BEGAN OPERATIONS ON JAN. 2, 2008. THE STATE REGULATORY REGISTRY LLC (SRR), A WHOLLY OWNED SUBSIDIARY OF CSBS, OPERATES NMLS ON BEHALF OF STATE REGULATORS. CSBS, IN COOPERATION WITH THE AMERICAN ASSOCIATION OF RESIDENTIAL MORTGAGE REGULATORS, ESTABLISHED SRR IN SEPTEMBER 2006. THE SECURE AND FAIR ENFORCEMENT OF MORTGAGE LICENSING ACT OF 2008 (THE SAFE ACT) INTRODUCED REQUIREMENTS FOR MORTGAGE LICENSEES, SUCH AS CRIMINAL BACKGROUND CHECKS, A CREDIT HISTORY REVIEW, PRE-LICENSURE EDUCATION REQUIREMENTS AND TESTS WITH BOTH NATIONAL AND STATE LAW CONTENT EACH APPLICANT MUST PASS TO OBTAIN A LICENSE.MAJOR MILESTONES ACHIEVED BY THE STATES, SRR AND NMLS DURING 2020 INCLUDE:--> SRR LAUNCHED THE STATE EXAMINATION SYSTEM (SES) NATIONWIDE IN MARCH. AS OF YEAR-END, 29 STATE AGENCIES WERE USING SES - THE ONLY NATIONWIDE SYSTEM THAT CONNECTS AGENCIES AND COMPANIES IN THE EXAMINATION PROCESS. --> SRR IMPLEMENTED THE SES CONSUMER COMPLAINTS FEATURE IN SEPTEMBER, FOLLOWING SUCCESSFUL COMPLETION OF A PILOT PHASE WITH 11 STATE AGENCIES. THE CONSUMER COMPLAINTS FEATURE ALLOWS STATE AGENCIES TO ENTER, PROCESS AND TRACK COMPLAINTS; AND CONNECT COMPLAINTS TO OTHER SUPERVISORY ACTIVITIES IN SES. --> SRR ACHIEVED TWO KEY MILESTONES ON THE PATH TO NMLS MODERNIZATION: RECEIVED FEEDBACK FROM 39 STATE AGENCIES DURING THE REGULATOR COMMENT PERIOD FOR THE CORE REQUIREMENTS PROPOSAL AND INITIATED THE REGULATOR COMMENT PERIOD FOR THE MSB BUSINESS-SPECIFIC REQUIREMENTS PROPOSAL. --> STATE AGENCIES CONTINUED ADOPTION OF NMLS FOR LICENSING AND OTHER FUNCTIONALITY IN THE MSB, CONSUMER LENDING AND DEBT INDUSTRIES. AS OF YEAR-END 2020, A TOTAL OF 49 AGENCIES MANAGED MSB LICENSES IN NMLS AND 45 AGENCIES MANAGED CONSUMER FINANCE OR DEBT-RELATED LICENSES IN NMLS. IN ADDITION, TWO ADDITIONAL STATE AGENCIES ADOPTED NMLS FUNCTIONALITY FOR UNIFORM AUTHORIZED AGENT REPORTING.--> THE 2020 NMLS ANNUAL CONFERENCE & TRAINING WAS HELD IN SAN FRANCISCO, CALIFORNIA AND DREW MORE THAN 760 ATTENDEES, INCLUDING 226 STATE REGULATORS. --> THE NMLS RESOURCE CENTER AND THE FEDERAL REGISTRY RESOURCE CENTER CONTINUED TO PROVIDE NMLS USERS WITH RESOURCES AND MATERIALS TO ASSIST IN NAVIGATING THE SYSTEM. THE SRR LEARNING AND DEVELOPMENT TEAM CREATED VIRTUAL LEARNING SOLUTIONS FOR MEMBERS AND STAKEHOLDERS IN RESPONSE TO THE COVID-19 PANDEMIC AND DELIVERED MORE THAN 50 TRAINING PROGRAMS. TRAINING EFFORTS ALSO SUPPORTED STATE AGENCIES' TRANSITION OVER 68 LICENSES TO NMLS.--> AT THE END OF 2020, NMLS CONTAINED ACTIVE STATE LICENSES OR FEDERAL REGISTRATIONS FOR OVER 36,000 UNIQUE COMPANIES AND OVER 583,000 INDIVIDUAL LICENSED OR REGISTERED MLOS. --> NMLS ADMINISTERED MORE THAN 67,000 TEST COMPONENTS. SRR STAFF ALSO SUPERVISED 104 COURSE PROVIDERS WHO DELIVERED OVER 3.5 MILLION HOURS OF EDUCATION THROUGH MORE THAN 1,987 NMLS-APPROVED COURSES IN 2020.--> SRR HELD TWO PUBLIC INDUSTRY MEETINGS WITH THE NMLS OMBUDSMAN.--> THE NMLS CALL CENTER ANSWERED MORE THAN 549,000 INQUIRIES FROM USERS. THE CALL CENTER RESPONDS DIRECTLY TO QUERIES REGARDING ANY USER ISSUES WITH THE SYSTEM AND DIRECTS ALL SPECIFIC REGULATORY, REGISTRATION OR LICENSING QUESTIONS TO THE APPROPRIATE STATE OR FEDERAL AGENCY.--> NMLS PROCESSING FEES REMAINED UNCHANGED FOR THE 12TH STRAIGHT YEAR OF SYSTEM OPERATIONS.