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#1886325 - 01/14/14 03:48 PM MLO NMLS # not renewed before Loan Closing
lucyc Offline
Diamond Poster
lucyc
Joined: Jul 2007
Posts: 1,074
We have a Lender not purchasing a loan because the NMLS registration for the MLO expired on 12/31/13 and the loan closed on January 2.

The MLO performed their duties while their license was in affect and the closing date was just after they were no longer involved and their NMLS # was not renewed. It was not renewed since they are no longer considered an MLO.

Does the SAFE Act address this scenario?

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#1886393 - 01/14/14 05:15 PM Re: MLO NMLS # not renewed before Loan Closing lucyc
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
No - sounds like a investor requirement.
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#1886760 - 01/15/14 01:24 PM Re: MLO NMLS # not renewed before Loan Closing lucyc
lucyc Offline
Diamond Poster
lucyc
Joined: Jul 2007
Posts: 1,074
Thanks for the response.

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