Skip to content

NMLS administration – HR or Compliance?

Answered by: 

Question: 
Who should manage the NMLS registration for our Mortgage Loan Originators (MLOs)? Is that an HR function, or should compliance do it?
Answer: 

Neither the SAFE Act nor Reg Z prescribe who should perform the job, only that there be policies and procedures to manage and control it. My recommendation is for compliance to be the primary overseer, with HR as a strong backup. But that does not mean compliance gets involved in personnel matters, such as a deciding what to do about problematic records revealed by a criminal background check. So what should you do? Join the upcoming webinar “MLO, LO, or Neither?” to learn more about how to best adminster your compliance management program for these rules!

-----------------------------

Learn more about Rebekah Leonard’s webinar

MLO, LO, or Neither?

First published on 08/23/2020

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics