Navigating the National Mortgage Licensing System

Product DescriptionCongress sent the mortgage lending industry into a tailspin when it passed The Secure and Fair Enforcement for Mortgage Licensing Act of 2008, and paved the way for the creation of the Nationwide Mortgage Licensing System (NMLS). No national system existed previously for licensing mortgage originators – an oversight that’s since become a scapegoat for America’s financial and housing crises. The SAFE Act requires the licensing and registration of all Mortgage Loan Originators (MLOs), who must pass a written qualified test, complete pre-licensure education courses and take annual continuing education courses. MLOs must also submit fingerprints for FBI criminal background checks and authorize the NMLS to obtain independent credit reports. This level of testing, education and background checking is new to mortgage brokers, many of whom are intimidated by the requirements. As daunting as it may appear, however, the oversight will undoubtedly raise the bar for an industry whose reputation has been marred by scam artists and other unsavory individuals for decades. To help honest, professional mortgage brokers navigate the new NMLS requirements and continue to enjoy fruitful careers in an industry he’s worked in for over 25 years, David Reinholtz, president of LoanOfficerSchool, is publishing a national manual and a series of 50 state-specific study guides for mortgage brokers. Reinholtz’s 125-page national handbook is entitled, Navigating the National Mortgage Licensing System: Your all-in-one guide to meeting the requirements of the new NMLS for loan originators. His state guides address a pressing need in the industry from mortgage brokers who must be licensed in every state where they conduct business. The information-packed book and accompanying study guides walk mortgage brokers through the national licensing process and explains in plain English exactly how to comply with the new law. Readers get firsthand information about the NMLS itself and the role it will play in the mortgage lending industry; learn about the testing, fingerprinting and credit check process; and find out how to set themselves up for success in the future through continuing education. Reinholtz gives readers the scoop, and without the jargon or hype. A straight shooter who has a keen interest in helping to clean up the mortgage lending industry, the author provides useful anecdotes from his own career, and enlists the help of several prominent mortgage professionals to get his points across. Instead of wallowing in the new regulations, waiting for a helping hand, why not take a proactive stance by ordering a copy of Reinholtz’s new books today? You’ll be glad to have him as your shepherd through the initial licensing process, and well into the future.

Navigating the National Mortgage Licensing System

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