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#1941409 - 07/16/14 01:07 PM Name of MLO and organization
basilring Offline
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We were recently told that the name of the MLO and organization also need to be on the application (the NMLS #'s are already there). I have looked at the reg and the CFPB exam manual and only see the NMLS# requirement on documents.

Am I missing something?
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#1941420 - 07/16/14 01:20 PM Re: Name of MLO and organization basilring
manimal Offline
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Check out this section of Reg. Z:

1026.36

(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.


(2) The loan documents that must include the names and NMLSR IDs pursuant to paragraph (g)(1) of this section are:

(i) The credit application;

(ii) [Reserved]

(iii) The note or loan contract; and

(iv) The security instrument.


(3) For purposes of this section, NMLSR ID means a number assigned by the Nationwide Mortgage Licensing System and Registry to facilitate electronic tracking and uniform identification of loan originators and public access to the employment history of, and the publicly adjudicated disciplinary and enforcement actions against, loan originators.
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#1941433 - 07/16/14 01:36 PM Re: Name of MLO and organization basilring
basilring Offline
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Joined: Mar 2012
Posts: 305
Spartan Country!
Thank you so much... I was headed to Reg Z next, but that made my day! (And with my meeting in an hour!)
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#1941435 - 07/16/14 01:41 PM Re: Name of MLO and organization basilring
manimal Offline
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It's totally hidden in the reg, it's not easy to find! smile
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#1944461 - 07/23/14 02:08 PM Re: Name of MLO and organization basilring
ecrew,CRCM Offline
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If any of the required loan documents do not have the NMLS numbers, would we need produce new documents for the customer to sign and record the mortgage?
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#1944589 - 07/23/14 04:12 PM Re: Name of MLO and organization basilring
ecrew,CRCM Offline
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Please disregard my question. The loans in question are HELOCs which do not apply.
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