The December 31 deadline for certain Mississippi, New Mexico, and Rhode Island licensees to transition to the NMLS is quickly approaching. Relatedly, certain Kentucky and South Carolina licensees will be required to transition to the NMLS in the first half of 2020. Here’s a summary of the impacted licensees and applicable transition dates:
State |
License(s) |
Key Dates |
Checklist |
Mississippi |
|
Open Date: Deadline: |
|
New Mexico |
|
Open Date: Deadline: |
|
Rhode Island |
|
Open Date: Deadline: |
|
Kentucky |
|
Open Date: Deadline: |
|
South Carolina |
|
Open Date: Deadline: |
Not yet available |
Don’t delay in preparing and submitting transition requests. Here are a few helpful notes on the process:
- Companies that don’t already have an NMLS record should start preparing one immediately as it can take considerable time to complete
- Current licensees should update their records with the applicable regulators prior to the corresponding transition open date so that there are no changes to submit at the time of transition
- All transition requirements can be found in the applicable checklists available on the NMLS (see links above). These checklists should be reviewed periodically as they are subject to change.
- To avoid being charged a new application fee, current licensees should enter their license number — or an alternate number provided by the applicable regulator — in the transition number field in the NMLS
- After the transition deadlines identified above, paper applications will no longer be accepted
If you need assistance with transitioning licenses to the NMLS, please contact our team of licensing professionals by clicking here.