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The Nationwide Mortgage Licensing System

Posted by: Carleton Sheets in resolution, requirement, Nationwide Mortgage Licensing System, mortgage originator, mortgage fraud, mortgage broker, loan originator, licensing, license, educational, education, database on Aug 31, 2009.

The New York Times reported last week that a program called the Nationwide Mortgage Licensing System has been initiated. The system acts as a repository where state regulators keep information on all mortgage originators, and also creates a standard for education, testing and licensing of loan officers.

During the housing boom, some dishonest mortgage originators steered consumers into subprime

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