License Status Definitions
Approved
Status assigned when regulator has reviewed the license or
transition request and decided to issue a license to the applicant through NMLS.
Approved-Conditional
Status assigned when the regulator has reviewed the license or
transition request and decided to issue a license through NMLS provided certain
conditions imposed by the regulator are met. This status may also be used (i) when a
regulator has imposed an increased financial responsibility requirement on the licensee
or (ii) if a licensee is subject to conditions set by an administrative order that do
not otherwise restrict their ability to conduct lawful activities under the
license.
Approved - Deficient
Status assigned when a regulator determines an entity is
entitled to conduct business, but may be required to provide additional
documentation/information to the regulator to comply with licensing
requirements.
Approved - Failed to Renew
Status assigned when a licensee with a perpetual license fails
to file renewal prior to December 31st.
Approved - Inactive
Status assigned when (i) the last active sponsorship is removed from a mortgage loan
originator license; or (ii) when an entity or individual informs a regulator (outside
NMLS) that they do not intend to conduct business under the license for a period of
time, but will continue to comply with certain licensing requirements in order to retain
the license. The status may also apply when a new license applicant is not currently employed as a mortgage
loan originator but meets all other licensing requirements. In such cases, the license
may be displayed as Approved Inactive until sponsorship by a mortgage
company is acquired and approved by the regulator. Until sponsored and approved, the
individual is prohibited from engaging in the business of a mortgage loan originator.
This status also may be used for company licenses if the company is not associated with
an approved qualifying individual.
Approved – On Appeal
Status assigned when a regulator has taken action to suspend
or revoke an approved license, the entity has appeal the decision and the entity is
authorized to continue to conduct business while the action is on appeal. This status
also may be used if a regulator rejects a renewal request and the licensee appeals the
rejection.
Approved – Surrender / Cancellation Requested
Status assigned when a licensee submits a surrender /
cancellation request to a regulator.
Denied
Status assigned when regulator has reviewed the license
requested and determined that sufficient grounds exist to deny the request. This status
may also be used by regulators who deny a renewal request for license.
Denied – On Appeal
Status assigned when regulator has reviewed the license
request and determined that sufficient grounds exist to deny the request but
applicant has appealed the
decision.
Pending - Deficient
Status assigned when regulator has determined documents or
information are incomplete or are missing from the license request.
Pending - Deficient (Temporary Authority)
Temporary Authority to Operate status assigned when Temporary
Authority is Active and CBC requirement has been completed, but there are pending
testing & education requirements or active license items.
Pending - Deficient (Temporary Authority Eligible)
Temporary Authority to Operate
status assigned before Temporary Authority is Active while awaiting CBC results, CHRI
review by the regulator, and a sponsorship request.
Pending - Incomplete
Status assigned upon submission of a new license
request.
Pending - Review
Status assigned once the regulator has received external
documents per checklist, completes a preliminary review of new license request and
decides to accept the filing for processing. Once the request is placed in this status,
the regulator review clocks start.
Pending - Review (Temporary Authority)
Temporary Authority to Operate status assigned when Temporary
Authority is Active, testing & education requirements have been met, and no
regulator-set license items exist.
Pending - Withdraw Requested
Status assigned when the applicant submits a filing to withdraw a license
request.
Pre-Approved (Temporary Authority)
Temporary Authority to Operate status assigned when Temporary
Authority is Active and testing & education requirements have not been met, but all
other licensing requirements have been met.
Revoked
Status assigned when a regulator has taken action to revoke
the license. Pursuant to federal SAFE legislation, placement of a mortgage loan
originator license into this status will render the mortgage loan originator unable to
obtain or retain a license to conduct mortgage business in any
jurisdiction.
Revoked – On Appeal
Status assigned when a licensee has appealed a regulator’s
action to revoke the license.
Suspended
Status assigned when a regulator has taken action to suspend
the license.
Suspended - On Appeal
Status assigned when a licensee has appealed a regulators
action to suspend the license.
Temporary Cease and Desist
Status assigned when a regulator issues a temporary cease and
desist order against the licensee. Respond to and comply with any requirements /
restrictions set forth in the order.
Terminated - Expired
Status assigned to a non-perpetual license when entity fails
to renew a license by the end of the Reinstatement Period or the jurisdiction’s deadline
(whichever is earlier), marks a license as Do Not Renew or has failed to address
outstanding issues with a license that has been suspended.
Terminated - Failed to Renew
Status assigned to a non-perpetual license when a licensee
fails to file for renewal prior to December 31st or marks a license as Do Not
Renew. The licensee is not authorized to conduct business with a license in
this status.
Terminated - Ordered to Surrender
Status assigned when a regulator orders a licensee to
surrender their license.
Terminated – Surrendered / Cancelled
Status assigned when a regulator approved a surrender /
cancellation request submitted by the licensee.
Transition Cancelled
Status assigned upon submission of a filing request
cancellation of a transition request.
Transition Rejected
Status assigned when a regulator decides not to approve a
transition request. Also used by regulators when the incorrect license type is
identified for transition.
Transition Requested
Status assigned upon submission of a transition
request.
Withdrawn – Application Abandoned
Status assigned when the applicant has not responded to regulator requests for
additional information within a timely manner.
Withdrawn - Voluntary without Licensure
Status assigned upon acceptance of a withdraw request
submitted by the applicant.