The following FAQs provide additional insight into why we are enhancing NMLS to improve the user experience and how these system updates will benefit them.

Why is NMLS being modernized?  

CSBS is modernizing NMLS because it is a priority that we maintain operational excellence for our state agency and industry users. We are committed to improving the user experience. Specifically, we’re focused on making enhancements to improve system performance and alleviate user pain points. 

What do you mean when you say “modernizing” NMLS? Does that mean CSBS is creating a new system?  

No, CSBS is not creating a new NMLS. “Modernizing” means we are enhancing or updating the existing NMLS.     

Many financial services industries use NMLS, including mortgage, consumer finance, debt money and services businesses. Which industries are the enhancements going to benefit?   

Initial NMLS enhancements benefit all system users. Our goal this year was to address pain points that impact all system users.  

What NMLS enhancements have been made this year?

One of the first major enhancements made is a new user login experience. As of July 20, the NMLS login screen has an updated look and feel, and the login experience has changed – enabling all NMLS users to set and reset their system login on their own at any time without having to contact the NMLS Call Center.

Additional enhancements made in July included:  

• 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.  
   

Congress mandated nationwide use of NMLS for mortgage industry state licensure and/or federal registration with the SAFE Act of 2008. How widely is NMLS used today?  

When NMLS was first created by state regulators, then adopted by Congress in 2008, it was used to manage licensing and registration for mortgage industry professionals. State regulators also now use NMLS to manage licensing for companies and individuals in the consumer finance, debt and money services businesses industries.  

As of year-end 2023, there were more than 600,000 industry users who rely on NMLS to maintain their licensing or registration in the mortgage, consumer finance, debt or money services businesses industry. This includes:  

• More than 280,000 state-licensed companies and individuals  
• Nearly 370,000 registered mortgage loan originators who work for federally regulated depository institutions    

Regulators and industry are key NMLS stakeholders. How can we get involved in what is happening with NMLS enhancements?  

Stakeholder engagement will continue to include NMLS updates during regularly scheduled stakeholder engagement meetings. In addition, we have introduced a continuous discovery process in which we will seek feedback from regulator and industry users on an ongoing basis about their NMLS experience. Feedback received will help drive NMLS enhancements.  

We encourage NMLS users to go to the “Sign Up for NMLS Updates” section on the NMLS Modernization web page at csbs.org/mod and subscribe to receive email updates when we publish new information on the page.