What Is The NMLS Number For This Organization
The Nationwide
Multistate Licensing System & Registry (NMLS) is used to license residential mortgage brokers and originators and track their history for public safety purposes.
These licenses mean very little to those who are not sponsored by or working
for a federally insured bank or credit union. This license allows one to create mortgages for their end-user based on their employer’s (e.g. the bank) proprietary software to create MORTGAGES – but we are here for a HELOC! Further, we do not
require a Mortgage Loan Originator (MLO) because each student will be working
with one of our private banks who offer a loan officer that is able to create a
HELOC (per our strategy) and that fits one’s debt-to-income (DTI) ratio and the
bank’s risk portfolio.
NOTE: The
test is not difficult to pass, requiring only 20 hours of training (a 3-day class) to obtain a national
license. 55% pass the test on their first attempt, with
74.35% of a people passing on the second attempt.