Reminder
As part of the transition to the Nationwide Mortgage Licensing System
(NMLS) in 2010, the division must freeze our licensing data to share it with the NMLS.
To accomplish this, the division will not be accepting new, renewal or branch applications,
requests for changes to a license, or loan originator notifications, between December 18,
2009 and January 3, 2010. Here is the anticipated schedule of changes:
Prior to December 18, 2009
Applications for licenses, changes to existing licenses and notification
of the hire and termination of loan originators may be made using paper forms or through
the online system located at www.oregonimla.org
through midnight on December 17, 2010.
December 18, 2009 though January 3, 2010
No paper or electronic applications, changes or notifications may be made.
January 4, 2010 through July 31, 2010
All applications for licenses or changes to existing Oregon licenses, other than the hire
or termination of a loan originator, must be made through the NMLS.
Notification of the hire or termination of a loan originator must be made on the existing
paper forms or at www.oregonimla.org.
After July 31, 2010
All applications for licenses, changes to licenses and loan originator notifications
must be made through the NMLS.
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The Nationwide Mortgage Licensing System & Registry has been designed to
streamline the licensing process, improve supervision and increase transparency in the mortgage
industry. NMLSR contains a single record for each mortgage lender, broker, branch and loan originator.
This single record can be used to apply for, amend and renew licenses in any participating jurisdiction.
For more, click here 
to see the Overview of the NMLSR .
SAFE Act
On
July 30, 2008, President Bush signed into law HR 3221 the Housing and Economic
Recovery Act of 2008. Title V of the bill (SAFE Act) impacts mortgage brokers
and loan originators. The SAFE Act requires that all mortgage brokers and loan
originators be licensed using the Nationwide Mortgage Licensing System & Registry
(NMLSR). If you would like to read Title V of the SAFE act, click
here (you will need to scroll down or use Ctrl + F to locate Title V).
HB 2189 which provides Oregon the authorization to enact the SAFE Act is working
its way through the Oregon legislature, you can find updates and tracking about HB 2189 on the
legislature’s web site at www.leg.state.or.us/bills_laws/.
Oregon's Timeline to Implement the Secure and
Fair Enforcement Act (S.A.F.E) updated 11/5/09
Education
Oregon’s Education Transition Plan
for the Secure and Fair Enforcement Act updated
11/5/09
The
Mortgage Lending Education Board is offering a series of free education days for
Oregon loan originators, part of which includes training on using the Nationwide
Mortgage Licensing System & Registry. The schedule of courses includes:
Aug
20th Medford - Marriott
Sept 10th Eugene - Downtown Athletic Club
Oct
29th OAMP Conference - Multnomah Athletic Club (Representatives from Washington
DFI also presenting)
For more information about the
courses or to register, please send inquiries to questions@oregonmleb.com.
If
you are a course provider, click here
for news and updates.
To sign up for a webinar training
of how to use the NMLSR, click here .
Forms
Please click here
to view the forms you will be required to use when you join the NMLSR.
