Misconceptions Misconception: Regulation of nonbank mortgage companies is lax or non-existent. As the primary regulator of nonbanks, states have broad licensing, examination, investigation, and enforcement authorities. Prudential standards, including financial capacity (i.e., net worth/capital and liquidity), governance, and risk management requirements, are also a matter of state law enforced by state regulators. 1 The Nationwide Multistate Licensing System and Registry

Renewal Season Starts Nov. 1 Washington, D.C. – State regulators encourage individuals and businesses in the mortgage, money transmission, debt collection and consumer financial services industry to start preparing now for the Nov. 1 start of Nationwide Multistate Licensing System (NMLS) annual license renewal. Mortgage loan originators (MLOs) and mortgage companies account for more than 846,000 state licenses to be

Washington, D.C. – While community bankers continue to hold a negative view of future economic conditions, their outlook is becoming less pessimistic, according to the latest Community Bank Sentiment Index (CBSI), released by the Conference of State Bank Supervisors (CSBS) today. The CBSI inched up 6 points to 92 in the fourth quarter of 2023. This is the second continued

System updates will improve the user experience and create greater efficiencies Washington, D.C. – The Conference of State Bank Supervisors (CSBS) is set to release the first phase of large-scale enhancements for the Nationwide Multistate Licensing System & Registry (NMLS) on July 20. The system updates will resolve pain points for professionals across the mortgage, consumer finance, debt, and money

Washington, D.C. - Community bankers nationwide have a brighter outlook, despite continued concerns about regulatory burden. The Community Bank Sentiment Index (CBSI) moved past neutral, signaling an improved sentiment for the first time in more than three years, the Conference of State Bank Supervisors (CSBS) announced today. The third quarter 2024 CBSI moved up 11 points to 110, the first

Washington, D.C. - Community bankers report an overall positive economic outlook for a third consecutive quarter, but their confidence in future business conditions is fading, according to the first quarter Community Bank Sentiment Index (CBSI) results. The Conference of State Bank Supervisors (CSBS) polls community banks nationwide quarterly to gauge their sentiment in seven economic components. A score of 100

Washington, D.C. – Community bankers nationwide continue to have a fairly pessimistic view of the economy, but their outlook ticked up slightly in the third quarter, according to the Community Bank Sentiment Index (CBSI) released today by the Conference of State Bank Supervisors (CSBS). The third quarter 2022 CBSI rebounded seven points from its all-time low of 84 experienced in

Washington, D.C. – Forty student teams from 34 universities across the nation have entered the Conference of State Bank Supervisors (CSBS) 2023 Community Bank Case Study Competition. The competition is open to undergraduate students in all fields of study as an opportunity to gain valuable first-hand knowledge of the banking industry.  This year’s competition asks students to look at how

Washington, D.C. – Community bankers’ outlook on economic conditions has dropped to a new low in the most recent Community Bank Sentiment Index, released today by the Conference of State Bank Supervisors. Concerns about regulatory burden, monetary policy, future business conditions and future profitability dropped the CBSI to 73, falling 10 points from the previous quarter and to the lowest

Washington, D.C. – The Nationwide Multistate Licensing System (NMLS) has a new login process that requires users to update their username and password and establish account recovery details. State regulators encourage licensees to complete this process before Nov. 1 to save time during NMLS annual renewals. “We’ve made some improvements this year to the login process based on user feedback,”