Our MLO is asking if she can have a copy of her CBC when it comes back from the Registry. That is our current practice and I assume it carries over to the Registry?

Will a credit report be run as part of the background check? I thought I had read somewhere that it was - but in the threads, someone indicated it was only at the state level, is that right?

What you do with the CBCs is up to the bank. The Registry is just the required vehicle for obtaining them.

I can't remember about the credit report. I'll have to look that one up.

The credit report is just for state licensed MLO's not for federally related institutions.

So, a credit check is NOT required for MLO's of a bank?

See the section for step 1 on the following page on the NMLS website. http://mortgage.nationwidelicensingsystem.org/profreq/credit/Pages/default.aspx

It says "Federally registered MLOs are not required to authorize a credit report."

My June 2010 powerpoint said that one was - based on a training I took at that time. We did not know all of the specifics of the requirements when that was created for management. I hope I did not add to the confusion.

I was reviewing the NMLS Background Check page and came upon this disclosure which I believe prohibits, among other things, giving the MLO a copy of their CBC. (See text in all caps below).
Am I misinterpreting this???

"7. The following status’ may be displayed in the Criminal Background Check Requests section:

- Pending Fingerprints – A CBC request has been submitted, but prints have not yet been taken.

- Processing Fingerprints – A CBC request has been submitted, prints have been taken, and the background check is being performed.

- Processing Name Check – A background check is being performed using the “Name Check” method.

- Closed – The background check has been conducted. The reason closed field will reflect received, rejected, or illegible. Received indicated the process in complete, rejected means information may be missing and illegible indicates prints must be retaken.
Note: RESULTS ARE NOT PROVIDED TO INDIVIDUALS, NMLS IS ONLY AUTHORIZED TO PROVIDE RESULTS TO YOUR REGULATOR.

- Expired – Fingerprints were not taken within the 180 day allotted time of submitting the request. You are required to authorize through NMLS again and schedule an appointment to be printed.

For further assistance, please contact the NMLS Call Center at 240-386-4444."

"For further assistance, please contact the NMLS Call Center at 240-386-4444"

Try that?

Good suggestion, Bob.

I just called the NMLS hotline. They indicated that there is no restriction to providing a CBC report to the MLO, however they recommended as best practice to avoid going down that path.

FYI - they were very quick to respond and knowledgeable. I will undoubtedly call them again!