CSBS-AARMR State Licensing Database

The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) have developed an online nationwide mortgage licensing system. This new system uses a uniform mortgage license application to create a repository of licensing information that can be used by state residential mortgage regulators. CSBS and AARMR have formed a limited liability company called the State Regulatory Registry LLC to administer the new system, called the Nationwide Mortgage Licensing System (NMLS).

The NMLS launched on January 2, 2008 with seven states (ID, IA, KY, MA, NE, NY, and RI) participating. At least eight additional states are expected to join the system by the end of 2008, while 27 others have signed statements of intent to participate in the system.

MBA worked closely with CSBS and AARMR in the development of principles, released in February 2007, for states to consider as they propose enabling legislation to participate in the database system. The principles clearly articulate the legislative scope of the system and reinforce the primacy of states' roles in determining how to supervise mortgage lending in their state. MBA will continue to work with CSBS and AARMR as they work to implement the database program.

The NMLS is available online at www.stateregulatoryregistry.org.

For more information about state mortgage banking issues, visit the MBA State Legislative and Regulatory Resource Center. www.mortgagebankers.org/Advocacy/StateLegislativeandRegulatoryResources.

As a service to its members, MBA also maintains a comprehensive online password protected resource where MBA members can review state legislation and regulations twenty-four hours a day, seven days a week. To access the State Legislative Database, visit its log-in page www.mortgagebankers.org/tools/multistate.aspx