New Requirements for Licensees Conducting Loan Activities
The California Department of Real Estate (DRE) announced that starting January 1, 2010 mortgage brokers and mortgage bankers will use the Nationwide Mortgage Licensing System (NMLS) for license applications and renewals.
Loan originators will also begin transitioning onto the NMLS for their new individual licensing credentials required in 2010. The national data base ensures that any mortgage loan professionals moving to Illinois will be able to demonstrate competency and a record clear of disciplinary actions in any other state in the nation.
Please click HERE for the full report.
Date Posted: 1/7/2010
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