Nebraska Participates in NMLS
The Nebraska Department of Banking and Finance uses the Nationwide Mortgage Licensing System (NMLS)developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators. The goal of the NMLS is to streamline and improve the licensing process for companies, branches, and individuals that hold licenses in multiple states. All mortgage lending license applications must be submitted through the NMLS.
Conducting Mortgage Transactions in Nebraska
Any person or business that, for compensation or gain or in the expectation of compensation or gain, directly or indirectly makes, originates, services, negotiates, acquires, sells, arranges for, or offers to make, originate, service, negotiate, acquire, sell, or arrange a mortgage loan must be licensed or registered with the Nebraska Department of Banking & Finance. This includes mortgage bankers and brokers.
The majority of entities wishing to conduct mortgage transactions with real property in Nebraska must obtain a mortgage banker license. Some entities, if certain requirements are met, may be allowed to register.
A Mortgage Banker License is valid from the date of issuance until December 31, at which time the license must be renewed.
Obtaining a License
All applications for a mortgage lending license must be submitted via the NMLS. Sample forms and detailed instructions are available on the NMLS website. To expedite this process you may wish to complete the paper format of each necessary form to use as a tool to ensure that you have collected all necessary information before you log into the NMLS website. However, the process will only be able to be completed online and any application or fees that are mailed or hand delivered to our Lincoln office will be returned to the applicant without being processed.
All application fees as well as any NMLS processing fees will be processed electronically through the NMLS. You may pay the fees via ACH or by Visa or Mastercard. No other payment method will be accepted.
If you have any questions or problems regarding the NMLS, please call the NMLS call center at (240) 386-4444.
No Paper License
The Department no longer issues paper licenses. All license approvals, renewals, branches or cancellations are updated on the NMLS to reflect the current license status.
Required Mortgage Licensing Forms for Nebraska
A checklist of all required Nebraska mortgage licensing forms is available on the NMLS Web site. These forms must be mailed to the Department.
Once the application has been determined to be complete and all information has been submitted, the agency has 90 days to determine whether the license is granted or denied. The applicant will be notified through the NMLS of the status of the application.