Our Strategy

We are modernizing NMLS using a long-term strategy focused on enhancing the system and improving
the user experience.
 

1. Our development priorities are to:
   • Ensure system enhancements benefit as many system users as possible by:
     • Focusing on areas that impact the broadest user groups first.
     • Improving functionality needed to meet SAFE Act requirements for mortgage industry licensing and registration.
   • Improve the user experience and task efficiency.
   • Improve NMLS data quality.
   • Enhance system architecture.
2. We will make incremental changes by:
   • Developing enhanced functional areas on a yearly cycle that will impact the broadest user groups.
   • Following a development roadmap that will be executed in six phases over a six-year period.

Roadmap for Six Phases

We are modernizing NMLS using a long-term strategy focused on enhancing the system and improving the user experience.

Phase One (Deployed July 2024)

Live

Enhanced NMLS to provide:

• One username and password to access all NMLS accounts.
• The ability to reset a username or password without contacting the NMLS Call Center.
• A new user profile page that simplifies account management by enabling users to view all NMLS accounts on one page.
• A new built-in survey that allows NMLS users to provide feedback anytime – right in the system.
• A new method that makes it easier for companies to create an NMLS account on behalf of an individual employee.

Who is impacted: NMLS users across all industries (i.e., mortgage, consumer finance, debt, and money services businesses.)

Phase Two (Target Q3 2025)

Coming soon

• Improve the process for individuals in the mortgage industry to apply for and manage their state license(s) in NMLS:
  • New experience will allow users to submit a core set of data when applying for a mortgage license that can then be used when applying for a mortgage license in other states.
• Improve how individual associations with companies are created and managed:
  • Creating and managing individual associations to a company, including relationships, registered location links (e.g., remote work), and license sponsorships, will be incorporated into the license application and maintenance process.
• Implement new identity verification requirements for users with access to criminal history record information (CHRI) to verify that they are the true owner of their account.

Who will be impacted: State-licensed individuals and company users who manage the licensing process on their behalf.

Who will be impacted: Federal institution and state agency users who have access to CHRI.

Phase Three (Target 2026)

Planned

• Introduce state agency task management for the individual licensing process, replacing the existing Regulator Worklist for individuals.
• Improve branch license application and maintenance processes.
• Create a better user experience by improving how license status updates are provided and making license item tracking more efficient.

Who will be impacted: State-licensed companies that manage branch locations, branch managers, and state agencies.

Phase Four (Target 2027)

• Enhance state agency task management for the branch licensing process, replacing the existing Regulator Worklist for this entity type.
• Continue to improve company license application and maintenance processes.

Who will be impacted: State agencies, state-licensed companies, company control persons, qualifying individuals, and branch managers.

Phase Five (Target 2028)

• Enhance state agency task management of the company licensing process, replacing the existing Regulator Worklist for this entity type.
• Modernize federal registration submission and maintenance processes for individuals and institutions.

Who will be impacted: State agencies, state-licensed companies, federally registered individuals, and institutions.

Phase Six (Target Q3 2029)

• Improve system navigation for companies and branches.
• Improve processes for requesting and establishing new industry entities in NMLS.
• Improve processes for adding new state agencies to NMLS, and creating and managing license types.

Who will be impacted: State agencies, state-licensed companies, federally registered institutions, surety companies, and surety bond producers.

Get Involved

Sign up for the NMLS User Experience Group (NXG) to get involved with NMLS Modernization! The NXG is a pool of NMLS users and stakeholders that want to be involved in the NMLS discovery and development process.

When you sign up for the NXG, you will receive invitations to participate in research activities, such as online surveys, remote interviews, and usability testing sessions − all based on the user types, roles, and areas of expertise you indicate on your sign-up form. Participation is voluntary, and you choose which activities you want to be involved in. Most activities will take less than 30 minutes to complete.

Your participation is crucial to ensure we design a user-centered solution that delivers maximal value to you. Your feedback will directly impact the development of NMLS, and you will be among the first to experience new features and designs.