The Department of Housing and Urban Development announced it will begin collecting the unique identifiers assigned by the Nationwide Mortgage Licensing System and Registry (NMLS) to individuals and entities originating loans (including reverse mortgages) submitted for insurance by the Federal Housing Administration.
HUD will use NMLS IDs at a number of points in the lender approval and origination process, as well as for FHA approved mortgagees to track sponsored originators. In FHA Connection, mortgagees will be required to enter in the NMLS ID of the loan officer who took the application and for sponsored third party originators, the sponsored third party originator’s company name and Taxpayer Identification Number.
“This information will allow HUD to provide FHA-approved sponsoring mortgagees with Neighborhood Watch performance data for their sponsored third party originators, and will assist in ensuring that participants in FHA loan transactions comply with the eligibility requirements governing participation in FHA programs,” said the Mortgagee Letter.
Entry of the name and NMLS ID of a loan officer is optional until March 31, 2011. For all case numbers assigned on or after April 1, 2011, this information must be entered. For more information, see here.