CSBS, on behalf of state regulators and in cooperation with the American Association of Residential Mortgage Regulators (AARMR), established the State Regulatory Registry (SRR) in 2006. SRR oversees the development and operation of NMLS.

The SRR Board of Managers is responsible for system development, operations and policy matters concerning NMLS. 

Through NMLS, SRR promotes the interest of financial services companies and professionals and their state and federal regulators by providing, among other services, the following:  

• Business advisory services concerning the regulation of the financial services industry
• State regulators with a supervisory platform for non-bank financial services employees and companies
• Industry participants with a unified system for obtaining and renewing their state licenses
• Data management services, namely, collection, aggregation and reporting of financial services industry data
• An online website for state-regulated financial services companies and professionals to apply for, amend, renew, and surrender licenses via the Internet.