The new requirements for NMLS#'s to be put on security instruments, and notes, along with the application, calls for the NMLSR. My question is--all of our MLO's have business cards and stickers for the 1003's without the 'R'. Is it necessary to have the 'R' on these? I am just thinking about the cost of new business cards, the stickers not so much.

Thanks.

IMO, it does not matter if you sticker it or get new cards, as long as the change is made. your LOS provider should be able to make the correction to show NMLSR on 1003s.

The "R" is not necessary. If you go to the NMLS web site, they list MLOs in this fashion:

NMLS ID: 56789

NMLS is sufficient. In the past I was under the impression that I needed it to show NMLSR but I have since seen the light.

Are you sure it is sufficient? This is from the Reg.

Effective January 10, 2014, paragraph (g) is added, to read as follows:
(g) Name and NMLSR ID on loan documents. (1) For a consumer credit transaction secured by a dwelling, a loan originator organization must include on the loan documents described in paragraph (g)(2) of this section, whenever each such loan document is provided to a consumer or presented to a consumer for signature, as applicable:
(i) Its name and NMLSR ID, if the NMLSR has provided it an NMLSR ID; and
(ii) The name of the individual loan originator (as the name appears in the NMLSR) with primary responsibility for the origination and, if the NMLSR has provided such person an NMLSR ID, that NMLSR ID.

Does anyone know if we can still use NMLS?
I have an auditor that wants to write up an exception because we aren't using NMLSR.

What is the difference? We are state chartered credit union so we don't have to be licensed. Does that matter?

We use NMLS and have not been criticized on an audit or exam.

They are two abbreviations for the same organization. It's like deciding whether to cite "12 CFR Part 1026" or "CFPB Regulation Z."