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#1844622 - 08/21/13 07:31 PM Name exactly as appears on NMLSr
Burgess Offline
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Joined: Jan 2004
Posts: 1,621
our software vendor had a seminar on upcoming 1.10.14 mortgage rules.
One point they made was that the disclosure of the NMLS name and number - that the name must appear "exactly" as it appears on the NMLS website

so are there tricks to this - what if the NMLS site has all small letters - what about nicknames of the mlo, jim for james say. The NMLS website discloses James and lists Jim as other names.

So is this something new to worry about or am i overeacting to our software vendor semina
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#1844635 - 08/21/13 07:44 PM Re: Name exactly as appears on NMLSr Burgess
Dani York, CRCM Offline
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Dani York, CRCM
Joined: Apr 2005
Posts: 3,663
TN
Did they give a citation for this requirement? Since the MLO has to register all of their aliases on the registry, I don't understand why there would be a requirement to make the name on the document match exactly to the NMLS.
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#1844655 - 08/21/13 08:22 PM Re: Name exactly as appears on NMLSr Dani York, CRCM
Burgess Offline
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Joined: Jan 2004
Posts: 1,621
no citiation - We just now called the vendor and it seems like they meant to say that if the name does not show up in the NMLS registery as the name or a alias then we could not use it.
James Smith alias Jim Smith in the registery - both are fine on the loan doc, but James A. Smith is a problem.
solution - add aliases to the registery before January 10.
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#1863570 - 10/22/13 03:03 PM Re: Name exactly as appears on NMLSr Burgess
ProfitDefender Offline
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ProfitDefender
Joined: Dec 2010
Posts: 178
Midwest
Just wanted to add to this - we do a large amount of originations that we sell on the secondary market - one of our investors recently informed us that they will not purchase loans in which the NMLSR Name doesn't EXACTLY match the LO's name on the 1003.
MLO "Johnathon A. Doe can't have "John Doe" printed on the 1003 unless "John Doe" is an alias. About half of our staff had to add aliases (we have a lot of James/Jim Kathleen/Kathy type names). There was no fee for the update.
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