We have a correspondent division that purchases closed loans. We have a bank that was recently approved and they are exempt from state licensing laws. Registered in NMLS with the FDIC as their primary regulator. The banks headquarters are in California. Would the bank be allowed to originate and close loans all over the country since they are exempt from state licensing laws?

That is a question for your legal counsel.

If working for a FDIC insured bank, a MLO would not have to be licensed in any State.

Now, that does not mean you do not have to follow their State laws while lending.