Dear Brave NMLS users,

Confused, scared, unsure, lost? Do any of these words describe your

attempt to navigate NMLS and accomplish your needs? Well, FEAR no
more I say! Thinking of common issues and requirements, we decided to
create the Declassified NMLS Survival Guide in efforts to provide
information that can help you navigate the awesomeness of NMLS.

Every tip and trick contained in this Declassified NMLS Survival Guide
is top-notch, grade A, 100% expert information passed down from the
most knowledgeable of all the NMLS creators, trainers, and support.

Chapter 1: Boot Camp Basics

Chapter 2: Methods to the Madness

Chapter 3: MU2, Who?

Chapter 4: Ohhhh it’s ESB, not ESP!

Chapter 5: Call Reports, is that like my phone log?

Chapter 6: ICON-ic Glossary

Chapter 7: Ready to Level Up?

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 Chapter 1: Boot Camp Basics
Know the type of filings offered by NMLS and their uses.
Filing Type Cost Basic Info
NMLS processing fee: $100 • Filled out by a company to apply
MU1 State cost: vary by license for/maintain COMPANY license
information.
• Initiated and generated through a
Company Form (MU1) & Branch Form
(MU3).
NMLS processing fee: $0
MU2 • Required for each: Direct Owner,
State cost: $0 Indirect Owner (if control), Executive
Officer, Qualifying Individual, Branch
Manager.
NMLS processing fee: $20 • Filled out by a company user to apply
MU3 State cost: vary by license for/maintain BRANCH license
information.
NMLS processing fee: $30 • Initiated by company user or individual
to apply for/maintain MLO license
State cost: vary by license
MU4 information.
CBC: $36.25 • The account that initiates the form
Credit Report: $15 pays the fees.
• Can be required by regulator before
MU1 can be submitted and/or
annually, 90 days from the fiscal year
end.
• Completeness Check will display on
NMLS processing fee: $0
Financial Statement Company Form (MU1) if required at
State costs: $0 the time of license application –
submission of financial statement is
done separately than MU1.
• A single filing must meet all license
requirements.
Electronic Surety Bond NMLS processing fee: $0 • Electronic Surety Bond submitted via
(ESB) NMLS to satisfy state requirements.
• The MCR requirement is license-
specific.
Mortgage Call Report NMLS processing fee: $0
• RMLA required quarterly (calendar).
(MCR) State costs: $0
• Financial Condition submitted annually
(fiscal year).
Money Services • The MSBCR requirement is license-
NMLS processing fee: $0 specific.
Business Call Report
State costs: $0
(MSB)
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Regulators may require items in addition to the Company Form
(MU1). The following are examples:

o Electronic Surety Bond

o Financial Statement
o State specific items

The State Licensing page of the Resource Center has links to every
possible resource on one page. By using the page as your starting location,
you can easily navigate through state requirements, quick guides, and
common requirement information.

Instruction on how to
perform every NMLS function

Detailed
instructions &
information for
each topic

Select a state to find the

list of licenses and the
checklist detailing
requirements for each
license type

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 Chapter 2: Method to the Madness
First time users should review the Getting Started: Company process
guide on the Resource Center for detailed instructions and
information on each step of the process.

Navigating NMLS is done through the use of: tabs, sub-menus and
navigation panels to get to a desired function.

Navigation Panel: Tabs: allows you to

used to go to Sub-menu: these are tab navigate to a major
specific sections specific and will change account section
on the filing or sub based on the tab selected
menu section

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The Filing and Composite View tabs are used most frequently since
majority of actions take place within them.

The Composite View tab is

The Filing tab is the “DOING
the “VIEWING TAB”: allows
TAB”: from this tab, the
you to view all the
majority of NMLS functions
information for your record
are performed including
compiled into one
MU1, MU3, Financial
convenient area.
Statements, MCR, etc.

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 NMLS will require certain sections of the Company Form (MU1) to be completed.
The completion of any section that is not required will depend on regulator
requirement and company specific information.
FORM SECTION REQUIRED NOTE(S)
Business Activities Y
Request License Y
License/Registration Y
Identifying Y
Information
Other Trade Names This section is specific to an entity, therefore NMLS does not
require it to be completed.
Resident/Registered Y Although section is required, checklist may have specifics on
Agent who should be listed.
Web Addresses This section is specific to an entity, therefore NMLS does not
require it to be completed.
Contact Employees Y
Books & Records Y
Information
Approvals & Y
Designations
Bank Accounts The checklist will identify if this section is required to be
completed.
Legal Status Y
Affiliates/Subsidiaries This section is specific to an entity, therefore NMLS does not
require it to be completed.
Financial Institutions This section is specific to an entity, therefore NMLS does not
require it to be completed.
Disclosure Questions Y
Disclosure Section is required if any Disclosure Questions were answered
Explanations as “yes.”
Direct Owners & Y At least one owner must be listed.
Executive Officers
Indirect Owners This section is specific to an entity, therefore NMLS does not
require it to be completed.
Qualifying Individuals The checklist will identify if this section is required to be
completed.
Document Uploads The checklist will identify if this section is required to be
completed.
MU2 Forms * This section automatically populates any person listed on the
Direct Owners & Executive Officers, Indirect Owners (control),
or Qualifying Individuals.

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 When a company is paying for the MLO’s licensing fees, there will be some
back and forth between the company account and individual account before
the MU4 can be submitted and paid for.

MLO grants access MLO reviews and

to company Company initiates attests to filing Company submits
MU4 and requests and pays for the
attestation filing

“The Happy Path”

The Road to MLO Licensure

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 NMLS will require certain sections of the Branch Form (MU3) to be completed.
The completion of any section that is not required will depend on regulator
requirements and company specific information.
FORM SECTION REQUIRED NOTE(S)
Business Activities Y
Request License Y
License/Registration Y
Identifying Y
Information
Other Trade Names This section is specific to an entity, therefore NMLS does not
require it to be completed.
Branch Manager Y Although this section is required, checklist may have specifics on
who should be listed. One manager per industry type, for
example one person can be listed as a manager for Mortgage.
Web Addresses This section is specific to an entity, therefore NMLS does not
require it to be completed.
Books & Records Y Any books and records locations added on the Company Form
Information (MU1) will be available for selection.
Operation Y
Information
Expense Information Section is required if the last question in the Operation
Information section is answered “yes.”
Document Uploads The checklist will identify if this section is required to be
completed.
MU2 Forms * This section automatically populates any person listed in the
Branch Managers section.

After a license has been requested through NMLS, the regulators communicate
with applicants and licensees through License Items. These are notes placed on a
license via NMLS, either by NMLS or by a regulator. An email notification is
automatically sent to the user. Companies can easily view all license items by
selecting Tasks License Item List

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 Company Account Administrators (AA) have the Admin tab to help manage
workload related to the entity and its employee. The following chart identifies
major functions available to an AA through this area:
Create Organization User User Account Profile Manage Notifications
• Each company is allotted 2 • AAs can manage any • All NMLS notifications that
AAs, but an AA can create a company user (other AA’s a OU can subscribe to are
login with limited rights and OUs). defaulted to be sent to all
within the company’s • AAs can unlock, reset a AAs.
account for additional password, disable account, • If AA no longer wants to
WHAT?

users. and delete account for receive certain emails, AA

• Organization Users (OU) will OU. must identify another
not get an NMLS ID • See Tip 12 for company user (AA or OU)
number; they are simply delete/creating another to receive the specific
given a user name under AA. notification.
the company name to login.
1. Click Admin tab 1. Click Admin tab 1. Click Admin tab
2. Click the Create 2. Click Account Profile link 2. Click Manage
Organization User link on on left navigation panel Notifications link on left
left navigation panel 3. Click search with no navigation panel
3. Enter data for new user search criteria to see full 3. Click the Add New
HOW?

and go next list of company’s AAs and Contact button

4. Select roles and go next OUs 4. Search
5. Click the Finish button 4. Click appropriate 5. Click appropriate
username link username link
5. Click the Manage User 6. Select appropriate emails
button and click Save

If a company Account Administrator (AA) needs to be changed

(added/deleted), existing AAs must contact the NMLS Call Center to initiate
process. To see a list of AAs and other users under the company account
navigate to the Admin tab.

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Remember that these requirements are specific to a license. Be sure to review
your checklist or the Resource Center to learn which ones are applicable to your
company. The following are possible requirements for licensees:

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 Chapter 3: MU2, Who?
Each Direct Owner, Indirect Owner (identified as a control person), Executive
Officer, Qualifying Individual or Branch Manager that is listed on the Company
Form (MU1) or a Branch Form (MU3) will be required to fill out an Individual Form

State regulatory agencies can often have specific requirements for the control
persons listed as Direct Owners, Indirect Owners, Qualifying Individuals or Branch
Managers in the Company Form (MU1) or a Branch Form (MU3).
The requirements can be, but are not limited to;
o Specific number of years of experience in the industry
o Criminal Background Check (state specific and/or NMLS Federal)
o Credit Report
o Document Uploads
o MLO license

Individuals who are only identified as a control person (and not mortgage loan
originators) will only complete the Individual Form (MU2). These individuals
cannot initiate the MU2 form from their own individual accounts. To amend an
MU2 form, the following steps can be taken from the company account:
1. Log in as a company user
2. Click the Filing tab
3. Click the Company (MU1) link
4. Click the Create New Filing button
5. Click the MU2 Forms link on left navigation panel
6. Click the Recall icon next to the appropriate individual – this will allow you to edit the filing
and/or request attestation so the individual can edit
7. Continue through the attestation process…

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 When a company has MU2 forms required there will be some back and forth
between the company account and individual MU2 account before the MU1
and/or MU3 can be submitted and paid for.

Control person MU2 Individual Company initiates MU2 form is auto-

Requests grants access to MU1/MU3 adding
generated for
individual control persons as
company control persons
account needed

Company requests
attestation Control person Attested MU2 Company submits
sending the MU2 reviews and form is sent to and pays for the
form to the attests to MU2 Company filing
individual account

MU2 Individuals may be required to submit a Criminal Background Check (CBC)

through NMLS. The requirement is determined by each state agency. Agency
Access should be granted to the relevant state regulatory agencies before criminal
background check results are requested. Failure to do so requires you to authorize
and pay for a new criminal background check.

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 Chapter 4: Ohhhh it’s ESB, not ESP!
Many state regulations require licensees to obtain a surety bond as a condition of
licensure. State regulators or consumers can file claims against a surety bond to
cover fines or penalties assessed, provide restitution to consumers due to failure,
or require a licensee to comply with licensing or regulatory requirements.

When a license has an electronic surety bond requirement, there will be some
back and forth between the state company licensee and the surety entity before
the surety bond is successfully completed.

1st Bond Submission: If a control

person signs the bond, a company
user must mark it ready before the
Licensee
bond will be delivered.
Grants Surety
Access to a
Surety Entity

Surety entity creates & 1st Bond Submission: The

signs the bond before signed bond will be
sending the bond to the delivered with submission
licensee for action. of license application.

Company users will need

either to sign & mark
ready or select an MU2
person to sign.

Regulators will review the

bond and can use license items
to report issues or return the
bond to the surety entity.

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When a company receives the bond from the surety entity, they will have several
options.

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 Chapter 5: Call Reports, is that like my phone log?
Call reports are quarterly activity reports that are completed on a calendar year
basis. The license type and business activities identified in the MU1 determine the
type of call report, if any, is needed.

Note: Standard MCR filers will also need to submit a financial condition annually 90 days within FYE

Both types of call reports, the Mortgage Call Report (MCR) and the Money Service
Businesses Call Report (MSBCR), can be accessed by selecting the Filing tab then
choosing the type of report needed.

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 Use the “Adopting State Agencies” section from the Resource Center (path listed
below) to determine if you have a Money Service Businesses Call Report
requirement. Although the MSBCR button will only allow companies who hold a
MSB license, it does not distinguish if your license type has adopted the process in
NMLS.
NMLS Resource Center > State Licensing > Common Requirements > Money Services Businesses Call
Report

There are four sections to the Money Service Businesses Call Report.

Section Information Requested

Section I: Financial Condition Report This section collects financial information at the company
level; it only has to be completed once per quarter.
Section II: Transaction Activity Reporting a) Company-wide Transactions (TA) - This section collects
transaction details across the company in every state
where it operates.
b) State-level Transactions (ST) - This section collects
transaction details broken down by state
Section III: Permissible Investments Report This section collects details for specific license types at a
company level.
Section IV: Transaction Destination Country Reporting This section is only required for licensees who indicate
they transmit money from the United States to a foreign
country or countries; it is due annually after the fourth
quarter.

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 To successfully submit a Standard Mortgage Call Report (MCR), certain numbers
must match to pass completeness checks. You can use the tips and tricks below to
make sure that the data in the cells matches to its corresponding cells.

Standard MCR Tips and Tricks

• Use the Definition and FAQs for help with specific fields (CLICK HERE)
o If the definitions are still not clear or you are unsure where a loan should
be reported please send an email describing the issue to
NMLSMCR@csbs.org
• All RMLAs components must be in a Ready to Submit status.
• System times out after 30 minutes of inactivity, all work is lost if “SAVE” is not
pressed.
o Entering data into the MCR fields is not considered activity, you must
press save.
• The Approvals & Designations (Ginnie Mae, Fannie Mae or Freddie Mac) section
of the MU1 determines if a Standard or Expanded MCR will be required.
o If company is filing the incorrect MCR type, a user must update the MU1.
o Once MU1 is updated it can take up to two periods to cycle before the
user will have the opportunity to file a Standard MCR.

Standard MCR Formulas

• AC070 = AC190 + AC790

• AC070 = AC900 + AC910
– Only the count from “directly received from borrower” column
• AC070 = AC990
• AC070= Section 1 MLO Totals
– Loans reported in the ACO70 Received from 3rd party column are not
reported in Section 1 MLOs
– All MLOs employed during the quarter must be listed even if there was no
loan activity for that employee.
– Sole proprietors would report themselves in Section 1-MLO’s
• AC190, AC290, AC390, AC590 = same amount
• AC790 = AC890
• AC066 = AC010 + AC020 - AC030 - AC040 - AC050 - AC060 - AC062 -AC064 +
AC065
• AC066 = AC090
• AC1200’s do not apply to Brokers
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 Chapter 6: ICON-ic Glossary

Throughout NMLS certain icons display to assist regulator, company and individual users
with navigation questions and printing. Additionally there is a direct link to the NMLS
Resource Center website. The common system icons are displayed below with a brief
description.

Common System Icons

The help icon will take the user to page specific help depending on where
they are in NMLS. Each Page has a policy help document associated to
guide users through the options available.

Print Icon - The print icon allows users to print the current screen.

Common Icons Within the Filing Forms

Completeness Check Icon - Click the Completeness Check icon to display
the incomplete fields in each section needed to complete a form. When
the Completeness Check button is activated it displays as a white check
mark in an orange circle.
Information Icon - Click the Information icon to view pertinent
information for this screen. Icon is most common found on business
activities screen with a list of definitions.

Additional Icons on the Mortgage Call Reports screen

View Icon - Click the View icon to view, edit or submit the MCR filing

Undo Icon - Undo pending amendments to a processed filing.

Upload Icon – Upload an XML file to amend the filing.

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 Common Icons Available for Individual Filings
Compare Filing Icon - Click the Compare Filing icon to display, in redline,
any changes made by the individual on an Individual filing initiated by the
company.
Delete Icon - Click the Delete icon to delete a pending filing prior to
submitting to a regulator.
Submit Icon - Click the Submit icon to submit a filing from the Individual
Filings screen.
Recall Filing Icon - Click the Recall Filing icon to retrieve a filing sent to an
individual for attestation. A filing may be recalled to make edits.
Request Attestation Icon - Click the Attestation icon to request that an
individual attests to an individual filing.
View Icon - Click the View icon to view the filing in read only mode

Edit Icon - Click the Edit icon to make changes to, or complete a filing.

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 Chapter 7: Ready to Level up?

Hello again,
Hopefully this Declassified NMLS Survival Guide has moved you
closer to being an NMLS Survivor! We are sure that all this information
and these exciting resources will help you navigate NMLS successfully.
The truth is NMLS is a complex system with features to help you
satisfy many different license requirements. Sometimes you may need
assistance or have questions. And boy do we have just the thing for you!
That’s right folks for a low one-time fee of $0.00 we bring you:

THE CALL CENTER

Need Help? Call the NMLS Call Center at 1-855-NMLS123
Available: Monday - Friday from 9:00AM to 9:00PM Eastern Time

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