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#2240023 - 07/23/20 02:55 PM NMLS License
100 Club
Joined: Aug 2013
Posts: 128
Dunkirk NY
Is it a requirement that a CEO of a Bank to have an NMLS license if he is not originating any mortgage loans???

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Lending Compliance
#2240025 - 07/23/20 03:06 PM Re: NMLS License HMDA GIRL
rlcarey Online
10K Club
Joined: Jul 2001
Posts: 77,008
Galveston, TX
The opinions expressed here should not be construed to be those of my employer:

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#2240039 - 07/23/20 05:04 PM Re: NMLS License HMDA GIRL
RebekahL CRCM Offline
Platinum Poster
RebekahL CRCM
Joined: Feb 2003
Posts: 774
Big Sky Country
Also, I might caution about unintended consequences if he gets an NMLS ID #. I once had an Exec VP that insisted on having his NMLS "just in case" he wanted to help a borrower with their mortgage loan needs. That is, until I helped him realize it indicated loan originator activity... limiting his big annual bonus below 10% because of LO Comp rules. He dropped it like a hot potato and promised to shut his mouth about dabbling in mortgage applications. Make sure your CEO is completely steering clear of all 1026.36(a) activities, including on the golf course.
Me, Type A? Maybe - I'm not done analyzing it yet.

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