Pretty sure I know the answer but a loan officer just asked me if the NMLS ID# needs to be on the Adverse Action. Our software puts it on all other documents but not that one. I didn't think it was required but just wanted to clarify.

If the AAN is the first written correspondence with a borrower on a mortgage loan application, i would say yes, the NMLS # needs to be there (or along with the AAN). That being said, i don't see why the NMLS # would have to be hardcoded onto the AAN, as there is no requirement to give the number out at all on non-mortgage transactions. Just my interpretation.

Oh, thanks! I hadn't thought about those that are denied before the 3 day disclosure period. Why did they make this so ridiculously hard? Just let us post it on the loan officer's desk and be done with it! Geez!

Have the number printed on business cards and have loan officers include one with every loan-related mailing. Go old-fashioned.....give'em a rubber stamp and have 'em stamp everything.

We're taking the conservative approach....putting it on business cards, letterhead, loan applications. No postings in the lobby, no lists on our website. We put the list on our internal intranet in case someone should actually really ask for the list....slim chance....then an employee can print it and hand it to the inquirer or mail it. The list is nothing fancy....just a print out from NMLS with every column removed except the names and numbers.

I'm having trouble with the concept of providing the NMLS number on the AAN. I understand the interpretation of the section 105 requirements - specifically, that the unique identifier must be made available "through the originator’s initial written communication with a consumer". If the AAN is the first written communication, then taken literally, section 105 would require the NMLS number on the AAN.

However, taking a step back on the issue, it just doesn't make sense to me. In discussing comments on use of the unique identifier, the preamble to the final rule states that "the S.A.F.E. Act requires each mortgage loan originator to obtain a unique identifier to facilitate the electronic tracking of loan originators, and the uniform identification of, and public access to, the employment history and publicly adjudicated disciplinary and enforcement actions against a mortgage loan originator. In order to effectuate this requirement, a mortgage loan originator and the employing institution must ensure that the consumer has access to the originator’s unique identifier. This access must be made available early enough in the relationship with the originator to enable the consumer to access the Registry before the consumer commits to the mortgage loan transaction." (emphasis mine)

What would be the point of providing the NMLS on an AAN, when clearly the consumer won't have the opportunity to commit to a mortage loan transaction?

I know I'm taking license here with what the preamble is saying (unofficial) versus what the regulation itself seems to say, but I'm wondering if anyone else is having the same issue. I don't want to add yet another step to our AAN process if its not necessary.

Good question!

I agree it's illogical, but because of what is in the language of the Act itself (as you quote), i'm unwilling to leave the NMLS # off of AANs of residential mortgage loan applications. I don't see getting dinged for that (it's what the regulation says to do), whereas i COULD see getting dinged for not putting the NMLS # on them. ETA: (Assuming the AAN is the initial written correspondence from the lender.) If a GFE, ETIL, or a simple cover letter that is given out to all applicants that includes the NMLS# is given prior to the AAN, i would see no compulsion to put the number on the AAN.

Also, consider your AAN process. We issue combo notices on our counteroffers, so putting the number on the AAN makes some sense for us since we are unable to fit the number on our GFEs and other early disclosures. Though if you don't want to add the number to the AAN in these type instances, just enclose a business card if the number is listed there.

Enclosing a business card (which includes the NMLS #) would be about the extent of what we would do - I don't see having the AANs re-formatted just for this limited purpose.

We're not reformatting, just requiring the LOs to include their NMLS# along with their signatures on the applicable AANs.

Hmmm... I hadn't thought about this. We provide early disclosures to everyone at application. Even those that apply online through our website receive electronic disclosures. However, at the time of application in this scenario, we do not yet know which MLO will be assigned to the loan. So, potentially, the AAN could be the first form of written communication. I just went in to our software and customized the AAN to print with the originator name and NMLS ID# at the bottom.

Thanks for your input raitchjay.

Actually looking into stamps now...seems like it would be cheaper over time than using a bunch of business cards - both for AANs and pre-disclosures.