Important Information for Renewals

On July 30, 2008, the President signed into law the Housing and Economic Recovery Act of 2008. Title V of this Act, is entitled The Secure and Fair Enforcement Mortgage Licensing Act of 2008 (S.A.F.E. Act”). Under the S.A.F.E. Act, all states must implement a mortgage loan originator licensing process that meets certain minimum standards and must license loan originators through the Nationwide Mortgage Licensing System (“NMLS”).

Emergency Rule ch. DFI-Bkg 47 was created to implement the transition to NMLS. View the Emergency Rule at our website at : www.wdfi.org/fi/mortbank/

FAQ’s

My Wisconsin mortgage loan originator license expires January 1, 2010, what do I do?

Submit your renewal on www.pulseportal.com and pay the prorated fee of $250.00 for the period of January 1, 2010 to December 31, 2010.

My Wisconsin mortgage banker license expires January 1, 2010, what do I do?

Submit your paper renewal application information and pay the prorated fee of $1,000.00 for the period of January 1, 2010 to December 31, 2010.

My Wisconsin mortgage broker license expires January 1, 2010, what do I do?

Submit your paper renewal application information and pay the prorated fee of $750.00 for the period of January 1, 2010 to December 31, 2010.

My Wisconsin mortgage loan originator license expires December 1, 2009, what do I do?

Submit your renewal on www.pulseportal.com and pay the prorated fee of $260.42 for the period of December 1, 2009 to December 31, 2010.

My Wisconsin mortgage banker license expires December 1, 2009, what do I do?

Submit your paper renewal application information and pay the prorated fee of $1,041.67 for the period of December 1, 2009 to December 31, 2010.

My Wisconsin mortgage broker license expires December 1, 2009, what do I do?

Submit your paper renewal application information and pay the prorated fee of $781.25 for the period of December 1, 2009 to December 31, 2010.

My Wisconsin mortgage loan originator license expires November 1, 2009, what do I do?

Submit your renewal on www.pulseportal.com and pay the prorated fee of $270.83 for the period of November 1, 2009 to December 31, 2010.

You will be able to access your renewal information on July 1, 2009 since the invoice for September 1, 2009 renewals will open on July 1, 2009.

My Wisconsin mortgage banker license expires November 1, 2009, what do I do?

Submit your paper renewal application information and pay the prorated fee of $1,083.33 for the period of November 1, 2009 to December 31, 2010.

My Wisconsin mortgage broker license expires November 1, 2009, what do I do?

Submit your paper renewal application information and pay the prorated fee of $812.50 for the period of November 1, 2009 to December 31, 2010.

My Wisconsin mortgage loan originator license expires November 1, 2009, what do I do?

Submit your renewal on www.pulseportal.com and pay the prorated fee of $270.83 for the period of November 1, 2009 to December 31, 2010.

You will be able to access your renewal information on July 1, 2009 since the invoice for September 1, 2009 renewals will open on July 1, 2009.

My Wisconsin mortgage banker license expires November 1, 2009, what do I do?

Submit your paper renewal application information and pay the prorated fee of $1,083.33 for the period of November 1, 2009 to December 31, 2010.

My Wisconsin mortgage broker license expires November 1, 2009, what do I do?

Submit your paper renewal application information and pay the prorated fee of $812.50 for the period of November 1, 2009 to December 31, 2010.

Effective January 1, 2010, what are some important changes I should be aware of?

Between January 1, 2010 and March 31, 2010, you will be required to register your license information on NMLS.

As of January 1, 2011, you will be required to be compliant with the Safe Act and on NMLS.