Surrendering or Withdrawing Company Licenses or Registrations
Understand the purpose, implications, and regulatory considerations of surrendering a company license or registration in NMLS.
The surrender process allows a company to formally notify state regulators that it no longer wishes to hold a particular license or registration in NMLS. Surrendering is typically used when a company exits a line of business, ceases operations in a jurisdiction, or transitions to a different license type. It is not a mechanism for avoiding regulatory responsibility or outstanding obligations.
A surrender request must be submitted through NMLS for each license or registration being surrendered. Once submitted, the request is reviewed by the state agency. Regulators may impose additional requirements, such as confirmation of record retention, satisfaction of financial obligations, or verification that consumer protection responsibilities have been met. Companies should review the State Licensing Checklist Compiler to determine any state-specific requirements that apply.
Companies should also understand that surrendering a license or registration may have long-term implications. For example:
- Surrender is generally irrevocable. A new application will be required if the company seeks to re-enter the jurisdiction.
- Regulators may deny a surrender request if there are outstanding investigations, consumer complaints, or pending enforcement actions.
- Companies remain responsible for final reporting obligations, such as Mortgage Call Reports or financial statements, even after surrender.
See the following topic for details: