Today we’ll discuss one of the first changes to the mortgage industry stemming from the meltdown: the National Mortgage Licensing System.
Welcome to my new seven-part video series titled “What Changed After the Mortgage Meltdown.” For the first installment, we’ll discuss the National Mortgage Licensing System (or the NMLS). What is it and why is it important?Verify my mortgage eligibility (Dec 2nd, 2020)
Following the mortgage crisis, the industry needed a better way to protect consumers as well as an improved means of accountability. Enter the NMLS. Today every mortgage loan originator must have a license or be registered. Think of it like a Social Security number that travels with the originator throughout their career. Thanks to this service, you and I can now trace our loan back to its originator.
As a matter of fact, in today’s modern environment, every loan is tracked on a national level, which creates more transparency and means we in the mortgage industry have a greater responsibility to the consumers we serve like you! I have a feeling it’ll continue proving to be a valuable change to the industry.
If you have any questions or would like information, please don’t hesitate to call me at 310-456-4494 or send me an email at Scott@ScottGriffin.com. Let’s schedule an appointment and spend some time learning what we can do to further your goals. I can’t wait to hear from you!Show me today's rates (Dec 2nd, 2020)