The NMLS Annual Renewal Period begins November 1 and ends December 31 each year. According to federal regulations, both institutions and most individual mortgage loan originators (MLOs) must be renewed through NMLS annually.
If the renewal process is not completed prior to December 31st, the MLO is placed in an “Inactive” registration status both on NMLS and NMLS Consumer Access. Inactive registrations must be reactivated in order to have an “Active” registration status.
NMLS requires a $30 processing fee for each MLO seeking to renew or reactivate a registration. MLOs who are submitted for renewal but did not complete renewal attestation prior to December 31 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 receive a notification from NMLS confirming that the renewal or reactivation process is complete.
Below are steps both institutions and MLOs should follow to successfully renew or, if necessary, reactivate a registration. Consult with your primary federal regulator if you have any questions regarding who is required to reactivate.