NMLS# for Online Applications

Posted By: Arizona

NMLS# for Online Applications - 07/05/11 02:44 PM

Any ideas on how to handle NMLS#s for online application process? We currently have a vendor providing online application service for us. Some loan requests are not for home mortgages and some are. Anyone else have issues with how to supply NMLS#'s upfront?
Posted By: Dani York, CRCM

Re: NMLS# for Online Applications - 07/05/11 03:51 PM

Has anyone acted as an MLO yet? If not, the number is not required. If the application is only taken and no terms have been offered or negotiated, then I wouldn't worry about the NMLS id number yet. Add to your procedures that once the application is assigned to an MLO, the number will be disclosed to the applicant by the MLO.
Posted By: RaesPlace

Re: NMLS# for Online Applications - 07/06/11 08:28 PM

We use Mortgagebot. They required us to provide them with a PDF form of all our loan originators. It will display as a link as part of the online application. Once the loan is assigned, initial written communitcation from the MLO will be required to contain his or her NMLS ID