New Compliance requirements starting January 1st
Starting January 1st, an entire class of business licenses will see new requirements in order to stay in compliance. In the past, individual state agencies served as the gate keeper for licensed professionals to obtain bonding for their new license. Now, the NMLS (Nationwide Mortgage Licensing System) will serve as the intermediary for state licensed professionals to obtain bonding. From a licensee standpoint, dealing with the NMLS directly is often cumbersome and complicated. Below are the effected professionals.
- 1st Mortgage Broker License
- 1st Mortgage Broker/Lender License
- 1st Mortgage Broker/Lender/Servicer License
- 2nd Mortgage Broker License
- 2nd Mortgage Broker Registrant
- 2nd Mortgage Broker/Lender License
- 2nd Mortgage Broker/Lender/Servicer License
- 2nd Mortgage Broker/Lender/Servicer Registrant
- Consumer Financial Services Class I License
- Consumer Financial Services Class II License
- Money Transmitter License
Don’t let your professional license come into jeopardy! Let American Surety Bonds take care of you by dealing with the NMLS to bring you into compliance. We work for YOU to ensure customer satisfaction and same-day service. The end of the year is rapidly approaching and we want to help you avoid compliance issues so you can get back to your passion: your business!