New Mortgage Broker Monitoring Site Hits State
The state is hosting a web site that allows consumers to get information on state-licensed mortgage brokers.
The Nationwide Mortgage Licensing System & Registry, a licensing system operated by the state Office of Consumer Affairs and Business Regulation, launched the "NMLS Consumer Access" system today.
NMLS Consumer Access is a searchable web site that displays information on mortgage brokers, lenders and individuals currently licensed by the state. The state said the site will soon include a record of disciplinary action taken against brokers licensed anywhere in the country.
The system and registry is designed to streamline the licensing process for brokers. The new site "is to increase transparency in the mortgage process," the state's consumer affairs office said.
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