The Making of NMLS: 1 - A Rapidly Changing Mortgage Market
Simply Stated - All Things Finance
English - August 02, 2023 05:00 - 22 minutes - 15.3 MB - ★★★★ - 7 ratingsGovernment finance banking supervision regulation fintech mortgage money transmission Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In episode one, we discuss the financial conditions in the early 2000s. Allegations of predatory lending, an increased number of applications of unqualified individuals to issue mortgages, and increasingly risky behavior in the mortgage market all caught the attention of state financial regulators. Seeing this growing trend, some regulators gathered at CSBS meetings in search of solutions.
About "The Making of NMLS" Series
The Housing and Economic Recovery Act, or HERA, was signed into law fifteen years ago on July 30, 2008. HERA included the SAFE Act, which required mortgage loan originators to register or be licensed in the Nationwide Multi-State Licensing System (NMLS).
In celebration of 15 years of NMLS, CSBS is releasing a podcast series about the creation of NMLS. Join us each week through August as we interview the regulators and leaders responsible for one of history's most ambitious 50-state projects.
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