Effective May 1, 2014, the Missouri Division of Finance is authorized to license all Missouri mortgage brokers and originators through the Nationwide Mortgage Licensing System (NMLS). All currently licensed Missouri companies may request transition of their licenses onto the NMLS beginning on June 2, 2014. Currently licensed companies must request and receive approval for the transition their licenses by Oct. 1, 2014. The NMLS processing fee for the transition is $100; however, additional fees may apply after the transition. Also beginning June 2, 2014, applicants for new licenses must register directly through NMLS, but must provide state specific documentation to the Missouri Department of Finance.
NMLS will be providing a free training webinar on June 5, 2014, for currently licensed companies. Click here to register. Additional information regarding the transition can be found on the Division of Finance website.