All licensees are required to renew their license between November 1st and December 31st, 2008. This 60-day window is a change, as in previous years you only had a 45-day renewal window.

This year’s renewal process has two distinct stages that you must implement:

1. You must first transition all your licensing data over into the Nationwide Mortgage Licensing System (NMLS). This will officially register you on the national system and you cannot renew unless you do this.
2. Once you have “transitioned,” you can then renew your license. All renewals and other license activity are now conducted electronically online. The OCOB will no longer accept written applications or renewals.

1. Read the appropriate notification letter from the NCCOB
Loan Officer Transition Letter				Company Transition Letter
2. Visit the NMLS website and complete the appropriate form
Individual LO Licenses			Click here and then choose "Create an Individual Account."
Company Licenses			Request a company account by clicking here.

Remember: You MUST transition before you can renew.

To renew your NC Loan Officer's License:

1. Log on to the StateRegulatoryRegistry.org website using the username and password you created when you transitioned your license;
2. Once logged in, click on the "Renewals" tab (top right). On this page, you will have to both attest to the completion and accuracy of your information as well as renew your license;
3. You must attest before you can renew. This is where you have the opportunity to change or correct any of your information. Once you have submitted all the corrections/changes, you click on the "Attest and Submit" button;
4. Next, click on the "Management" tab (top right). Here you choose the license you wish to renew and place a check next to it. Then you click "Apply" to place that renewal in your renewals cart;
5. Once you have added the license renewal to your cart, choose "Renewals Cart" from the menu on the left. It works much like any standard Internet purchase where you agree to the terms and then submit your credit card information.
   Note: They only accept Visa and MasterCard.
6. Once your transaction is processed, you can print your confirmation.

If you have any questions about transitioning or renewing your license, please contact the NMLS call center at 240-386-4444 or the OCOB at 919-733-0589. You can also get more information by reading the NMLS Quick Guide page.

The NMLS was just the first step in a process of Nationalizing Loan Officer Licensing. The SAFE Act, referred to as Title V and signed into federal law on July 31, 2008, has accelerated this process. Over the next 10 months you will be hearing much more about Title V.

I will be revealing what this new law may mean to you in a new four-hour law course called “New Laws for a New Era”.
Click here to register.

While your head has been down producing business, the regulatory world has changed dramatically. My purpose is to keep you up to date and in the know. Join us in class and we will answer your questions about these and other issues of historic importance.

For now you have my best regards.



P.S. Join attorney Scott Green and I as we discuss all the changes on the state and federal level. Click here to register.



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