National Mortgage Licensing
By George Souto, Your Connecticut Mortgage Expert
(George Souto NMLS #65149 FHA, CHFA, VA Mortgages)
It has been a while since I last wrote a blog here on ActiveRain. A lot has been going on which has kept me from being as active here in the Rain as I have been in the past. The Tax Credit has kept me very busy especially since a major part of my business comes from First Time Homebuyer. But the other thing that has been taking up a significant part of my time is the National Mortgage Licensing that all Loan Officers, except for Bank and Credit Union Loan Officers, are now required to go through, and be licensed Nationally as well as in the States that they do business in. The National Mortgage Licensing Systems (NMLS) requires each Loan Officer to go through 20 hours of class, plus take a 100 question test, and obtain a score of 75 or better. Loan Officers will also have to pass a 5...