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#2240023 - 07/23/20 02:55 PM NMLS License
HMDA GIRL Offline
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
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rlcarey
Joined: Jul 2001
Posts: 77,008
Galveston, TX
No
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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.
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