Employment History
An individual must provide a complete employment history for the past 10 years. Provide the full legal name of the company, beginning with the current employer.
For the purposes of this history, include both 1099 independent contractor assignments as well as W-2 status employment. The actual physical location the individual works from should be listed in the address field.
The work location stated in one’s NMLS record should be a licensed or registered location.
If a Company Relationship was created for an MU2 individual who is not an employee, the relationship will still display as an employment record on the MU2 Employment History. A company may use the Position/Title field in the relationship to clarify that this individual is not an employee.
If you change your work location address for your current employer, update the address to that of the new location on the current employer entry.
The current employment should reflect the company where the individual receives their compensation. Additional information on positions of authority the individual may hold with other companies owned by the parent company of an organization should be disclosed in the Other Business section of the Individual Form (MU2). If the name or address of your current employer changes, update these fields accordingly. This process is not applicable to name or address changes that are the result of a merger, acquisition or other corporate structure change.
No gaps in employment should be present. Part-time employment should be included where the employment time is needed for the applicant to meet the required years of experience. Indicate part time or PT in the Position Held field (e.g. PT school teacher).
Time unemployed can be portrayed by using an Employment Gap entry. This is needed to verify required experience as well as to complete background checks in some states. All employment gap periods must be accounted for. An employment gap is defined as any period when an individual is not working—meaning not earning income as a W 2 employee or 1099 contractor—including but not limited to time between jobs or periods devoted to caregiving, health, sabbaticals, or education.
Time as a student should be stated as such. For example, use student and list the school address in the address field.
