California DOC, Montana, Oregon, Utah DRE, and Texas SML all have NMLS transition deadlines at the end of this month (May). From the NMLS website, here is a summary of what it looks like mortgage loan originators will need to do in each state in order to stay in compliance.
•California: Licensees holding a California Residential Mortgage Lending Act (CRMLA) license have until May 28, 2010 to complete and submit through NMLS a Form MU1 for their company and a Form MU2 for each of their control persons. California mortgage loan originators must meet the requirements of passing the national and California components of the SAFE Act mortgage test, passing the criminal background check including finger prints, authorizing the NMLS to obtain a credit report, and being sponsored in NMLS by their company by May 28, 2010 in order to be licensed by July 31, 2010.
•Montana: Mortgage loan originators whose licenses expire on June 30, 2010 must complete and submit a Form MU4 by May 31, 2010. In addition, Montana mortgage loan originators must complete the pre-licensure education or certification, have a passing score on both the National and State components of the SAFE Test, complete a criminal background check including fingerprints, allow for Montana to review a personal credit report, and obtain license sponsorship in NMLS by their company by May 31, 2010.
•Oregon: Loan originators in Oregon have until May 31, 2010 to complete and submit a Form MU4 through the NMLS in order for a license to be issued by July 31, 2010. In order to have their education and state test certified, LOs must apply for their license by May 31, 2010.
•Utah. Mortgage loan originators in Utah have until May 31, 2010 to complete and submit Form MU4 through the NMLS. Companies employing mortgage loan originators are required to Sponsor their license in NMLS.
•Texas. Residential Mortgage Loan Originators licensed in Texas with the Department of Savings and Mortgage Lending (SML) have between April 2 through May 31, 2010 (for those originating under the sponsorship of a Mortgage Banker Company) or July 1 through August 31, 2010 (for those originating under the sponsorship of a Mortgage Company), to submit and complete a Form MU4 through the NMLS.
Again, this is from the NMLS website. I’d be sure to check out your individual state’s website to see if there are additional requirements that must be met by the deadline.