Each state regulator has distinct rules regarding Mortgage Loan Originator (MLOs) license renewals. Below is a helpful list for each state in which JMAC conducts business. Some regulators permit a “grace period” for MLOs who submit their renewal prior to December 31 but who have not yet been approved for originating through 2017. Those regulated by the regulators in white boxes are able to continue to originate if their renewal applications were submitted in a timely manner.
JMAC will require proof of the timely renewal application for any MLO who does not appear as “Approved through 2017” in nmlsconsumeraccess.com before submitting or consummating any transactions, if permitted under a grace period. If your license is not “Approved through 2017” and your regulator is in a colored box in the table below, you cannot submit or consummate any loans until the license is “Approved through 2017.”
This information is intended for informational purposes only. This is not legal advice. Contact your legal counsel or compliance officer for clarification.