The Renewal Period will begin on Saturday, November 1, 2014.
According to federal regulations, both institutions and most individual mortgage loan originators (MLOs) must be renewed through NMLS annually. If the renewal process was not completed prior to December 31st, the MLO will have an “Inactive” registration status both in NMLS and on NMLS Consumer Access. Inactive registrations must be reactivated in order to have an “Active” registration status.
NMLS will require a $30 processing fee for each MLO seeking to renew or reactivate a registration. MLOs who were submitted for renewal but did not complete renewal attestation prior to December 31 will need to be reactivated, incurring an additional $30 processing fee at the time of reactivation. See NMLS Processing Fees and Paying by ACH for additional information.
MLOs will receive a notification from NMLS confirming that the reactivation process is complete.
Below are steps both institutions and MLOs should follow to successfully reactivate a registration. Consult your primary federal regulator if you have any questions regarding who is required to reactivate.