Getting Started

Getting Started

Step 1:  Determine if your institution is required to be registered with NMLS

If your institution is federally chartered or insured by one of the following agencies:

  • Consumer Financial Protection Bureau
  • Farm Credit Administration
  • Federal Deposit Insurance Corporation
  • Board of Governors of the Federal Reserve System
  • National Credit Union Administration
  • Office of the Comptroller of the Currency, Treasury

AND, if your institution employs individuals required to be federally registered as mortgage loan originators, your institution must register with NMLS.

Consult the Final Rules published by the Agencies on July 28, 2010 for definitions of covered institutions and mortgage loan originators.  If you have questions about these definitions, contact your Federal Agency for further clarification.

Step 2.  Confirm your institution's information in the NIC Database

Review the information for your institution in the Federal Reserve System’s National Information Center (NIC) Database prior to requesting an institution account in NMLS.  To review your information go to the NIC Database Website and select the Institution Search tab.  If you believe the information in the NIC Database is incorrect, contact the NIC Database Contact for the Federal Reserve Bank for your district.  If corrections are necessary, the NIC contact will assist with correcting the data.  Once the data is updated, it may take up to 3 days for the data to propagate through to the NMLS entitlement center, after which time, you will be able to complete the institution account request.

Step 3:  Request an institution account on NMLS

To request an account, complete the Company Account Request Form.  Information your institution provides in the Company Account Request Form, including name, address, RSSD ID number and primary federal regulator, will be validated against information contained in the NIC Database. You must also identify two Account Administrators on the request form.  Once the form is reviewed and validated, an NMLS account will be established for the institution and user names and passwords will be issued to the Account Administrators.  The normal validation process takes 48 to 72 hours.

Note to institutions with an existing NMLS account:  If your institution already has an NMLS account, do not submit the Company Account Request Form. To gain access to the Federal Registry, an existing Account Administrator for your company can log in and request Federal filing authority.

Step 4:  Obtain two-factor authentications for all institution users

All Account Administrators and other users associated with your institution’s NMLS account must utilize a second authentication factor beyond the User Name and Password provided by NMLS before they are able to log in to their NMLS account. For more information on this requirement, see Frequently Asked Questions about Two-Factor.

Users who are required to have two-factor authentication must use a security credential from Symantec (formerly known as VeriSign).  For details see Quick Guide: Choosing a VIP Security Credential.  Go to the VIP Website to acquire your credential.  You will need your credential before you log in to NMLS to complete your Form MU1R.

Step 5: Complete and submit Form MU1R

Once your institution's Account Administrator(s) receives his or her VeriSign token, user name and password, have them click on the "Log in to NMLS" button above.

Create a Form MU1R filing, complete the necessary fields, submit and and pay the filing registration fee.  If you need assistance with this step, the Manage Institution Registration Navigation Guide will help.

NMLS processes all payments electronically and accept credit cards and ACH.  See NMLS Payment Options for information about payment methods.

Step 6:  Repeat Steps 1 through 5 for each subsidiary which is required to register MLOs

Mortgage loan originators must be registered by the entity that directly employs them.  If the employing entity is a subsidiary of a federally-chartered or insured depository institution, then the subsidiary must have a separate account on NMLS and register a Form MU1R before registering MLOs.

NOTE: The Account Administrators for the subsidiary must be the same as the Account Administrators for the parent institution.

Step 7:  Determine who needs to be registered

Determine which employees within your institution meet the definition of mortgage loan originator according to the Final Rules and review the registration information required from each individual on Form MU4R (see Form MU4R Requirements).

Step 8: Choose a workflow

The registration process can be accomplished several different ways.  Three sample workflows have been developed to help institutions develop a process that suits their needs.  Review the following sample workflows and choose the one, or a variation of one, that is best.

Step 9:  Gather the necessary data from your MLOs to create their accounts

NMLS allows institutions to batch upload MLO information in bulk in order to create their accounts on the system.  The batch upload process requires that you compile basic identifying and contact information on each MLO.  The documents below will help you gather the necessary information required. Once all information is gathered and you’ve filed your institution MU1R as noted in Step 4 above, you can begin the batch upload process.  Using the batch upload process, whether for one MLO or thousands of MLO, will eliminate steps and provide your institution immediate access to the MLO’s account.

Batch Upload Specifications 
Batch Upload Template (CSV)

Collect the necessary information on your MLOs and build the batch upload file.  For complete instructions, see the Institution Management of MLO Navigation Guide.

Step 10:  Begin registering your MLOs

The Account Administrators for your institution will receive email confirmation of a successful Form MU1R registration.  Once successfully registered, an institution may begin to register mortgage loan originators.  Follow the steps of the workflow you have chosen.  For complete details, see the Manage MLO Registration Navigaton Guide.  Go to Resources & Support for additional navigation guides, quick guides and more.

Step 11: Review MLO registration information

Once your MLO has attested to the Form MU4R, review that information and request corrections as necessary.  Authorized institution users can also review any pertinent criminal history record information generated by the criminal background check.

Step 12:  Confirm employment and complete the Federal Registration process

After the institution has reviewed all of the MLO’s information in NMLS, it can choose to either confirm the MLO’s employment record, creating an active registration, or reject the employment record.