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Published on Wednesday, December 17, 2014

Division Shows Greater Efficiency in NMLS License Renewals

The Montana Division of Banking and Financial Institutions is currently processing annual renewals for all non-depository licensees. These renewals are all submitted online via the Nationwide Mortgage Licensing System (NMLS). According to the NMLS renewal dashboard available on December 15, 2014 about 79% of licensees have submitted their online renewal.  This percentage is nearly identical to what was submitted by this timeframe in 2013.  The Banking Division has made great strides in how efficiently it processes these online license annual renewals.  Over 81% of all license renewals that have been submitted in 2014 are now approved.  This compares to 49% that were approved by this timeframe in 2013.   The Banking Division attributes this increase in efficiency to its licensing staff’s commitment to training and their utilization of enhanced functionality of the NMLS.

 

NMLS Weekly Statistics – as of December 15, 2014

 

 

As of 12/14/2014

As of 12/14/2013

Renewal requests submitted

79.1% (2,219)

79.4% (1,723)

Renewal requests approved

81.6% (1,811)

46.6% (1,100)

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Author: Smillie, Monica

Categories: Division News

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