State Mortgage Licenses

AMC licenses soon in all 50 states

The Dodd-Frank Act requires that Appraisal Management Companies be licensed in all 50 states by January 1, 2015.  38 states have passed licensing laws of which 33 are already being issued and 5 will start issuing AMC licenses by July 1, 2014.  That leaves 12 states that must pass legislation and start issuing AMC licenses by January 1, 2014.  Thomas Law Firm can help you get all your Appraisal Management Company licenses in place.  Call Herb Thomas at 214-692-7611 or email him at [email protected] for a Quote.

At Last! Delaware Moves Company Apps to NMLS. Come on Missouri!

At Last! Delaware has moved its Company Apps to the NMLS.  NMLS is now receiving new application and transition filings for the Lender License, Broker License, Licensed Lender and Broker Branch License for Delaware Office of the State Bank Commissioner.     Licensees and new applicants are now able to submit these records through NMLS.  Maine moved their Company Apps to the NMLS so that leaves MO as the only state that requires paper applications to be processed through the state. 

Stand-Alone Uniform State Test (UST): Deadline 3/31/2014

Warning! March 31 Deadline:You only have about 30 days to sign up and take the Stand-Alone UST Test so you can become Eligible to be a MLO in 37 states plus Puerto Rico [maybe your company will let open an office there on the beach]. There are only 25 questions and you only need 17 correct answers to pass and it only takes 45 minutes and only costs $33.00. What a bargain! Plus it will make you more valuable to your Company.

If you previously passed the Retired National Test, the 25-question Stand-alone UST is only available for enrollment until March 31, 2014. Candidates who enroll before April 1, 2014 will have the usual 180-day window to schedule and take the test. Click for instructions on how to enroll for the test. Click on the UST Adoption Map and Table  the list of state agencies and when they will adopt UST.