Mortgage Banking
Our Offices will be closed:
February 15th, 2010
The Department of Financial Institutions and Office of Credit Unions
will be closed on Monday February 15, 2010 as a result of the day being
designated as a Furlough Day for employees of the Department of Financial
Institutions and the Office of Credit Unions.
Although the Agency will be closed to the public on this day, Internet
Web Services will still be available for individuals who are accessing
or filing documents over the Internet. For additional information regarding
documents that can be filed or processed over the Internet for a specific
program, please visit that program’s information on our web site.
A full list of the days that the Agency will be closed during this
calendar year is available by visiting the link shown below:
 2010
Closure Dates (PDF: 18 KB / 1 page)
Recent Changes
The NMLS Resource Center is the official gateway into the Nationwide
Mortgage Licensing System (NMLS) and provides users with tools, tips,
news and updates. NMLS website is: http://mortgage.nationwidelicensingsystem.org/Pages/default.aspx
Access the NMLS Resource Center 
Wisconsin specific information can be found at :
http://mortgage.nationwidelicensingsystem.org/slr/transitions/Pages/WITransPlan.aspx
and
http://mortgage.nationwidelicensingsystem.org/slr/Pages/DynamicLicenses.aspx?StateID=wi
Any NMLS system questions, questions regarding the NMLS website,
or how to complete the MU forms can be answered by the NMLS call
center at 240-386-4444. NMLS welcomes your call.
State Regulators Announce Launch of NMLS Consumer Access
The Nationwide Mortgage Licensing System & Registry (NMLS)—a
mortgage licensing system operated by state financial regulators,
including Wisconsin—launched “NMLS Consumer Access” on
January 25, 2010. NMLS Consumer Access is a fully searchable website
that allows the public to view information concerning state-licensed
mortgage companies, branch offices, and individuals currently licensed
through NMLS.
NMLS
Consumer Access website 
Complaints
Important Information
for Renewals
Licensing
What's New
- New
rule effective January 1, 2010 regarding transition to license
system, branch offices, mortgage broker agreements, surety bonds & tradenames
(section 7 effective January 1, 2011. (PDF: 65 KB / 16 pages)
- The following information is important and concerns all new loan
originator applicants AND all loan originators or loan solicitors
applying for the renewal of their license.
The SAFE Act provides that to be eligible for a license, an individual
must not have been convicted of any felony within the preceding
seven years or convicted of certain types of felonies at any time
prior to application.
As of May 4, 2009, Rule DFI – Bkg 47.08(1) , Wis. Stats.,
states that the division shall not approve mortgage loan originator
applications unless the applicant meets the requirements of s.
224.725(3)(a) and (b), Stats., as affected by 2009 Wisconsin Act
2. Section 224.725(3)(b), Wis. Stats., states that the division
may issue to the applicant a mortgage loan originator license if
the division finds that the applicant has not been convicted of,
or pled guilty or no contest to, a felony in a domestic, foreign,
or military court during the 7-year period preceding the date of
the application or, for a felony involving an act of fraud, dishonesty,
breach of trust, or money laundering, at any time preceding the
date of the application.
- Important Information effective for renewals on or after September
1, 2009
Other Information
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