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#2128294 - 04/27/17 07:34 PM NMLS-Brain Freeze
mdog76 Offline
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Joined: Jan 2007
Posts: 645
Does the NMLS number go on the loan documents for just primary residence or all "dwelling "secured loans? Can't remember.

Thank you.

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Lending Compliance
#2128385 - 04/28/17 03:24 PM Re: NMLS-Brain Freeze mdog76
raitchjay Online
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Joined: Oct 2009
Posts: 8,876
OK
It doesn't have to be primary residence--it's required on consumer purpose loans secured by a dwelling.
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#2128386 - 04/28/17 03:26 PM Re: NMLS-Brain Freeze mdog76
raitchjay Online
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Joined: Oct 2009
Posts: 8,876
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(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) The disclosures required by ยง 1026.19(e) and (f);

(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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