2015 Semifinalist
Winners:
State Regulatory Registry
2015
Publication:
Innovations in American Government Awards
Jurisdiction:
Federal

The Nationwide Multi-State Licensing System and Registry (NMLS) is a groundbreaking tool that employs the benefit of state-based financial services regulation on a uniform nationwide platform. NMLS provides for better coordination and information sharing among regulators, increased efficiency for industry professionals, and enhanced protection for consumers. In January 2008, seven states launched NMLS as a voluntary system to regulate mortgage companies, branches, and individual mortgage loan originators. NMLS was the beginning of a new web-based regulatory framework for regulation of the mortgage and other non-depository industries through better supervision, streamlined licensing procedures, and enhanced consumer protection.