Regulatory Alerts2010-01-14
ND 01-10 Challenge NMLS&R Records Policy
The Louisiana Office of Financial Institutions established procedures allowing licensed mortgage brokers, lenders, and originators to formally challenge the accuracy of records it submits to the Nationwide Mortgage Licensing System & Registry. Submitters must file written disputes with supporting evidence, prompting a Commissioner review within sixty days that results in either prompt record corrections or written justification for maintaining the original data. Challenges concerning non-Office data are summarily dismissed with instructions for proper filing, ensuring accurate licensing records across the registry.
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