FAQs: 2024 NMLS Processing Fee Review

The following frequently asked questions have been provided to help you understand the next steps as the SRR Board of Managers prepares to review the current NMLS Processing Fees. The SRR Board of Managers, which governs NMLS operations, reviews NMLS fees on an annual basis.

Why are NMLS fees being reviewed now?

The SRR Board of Managers reviews NMLS fees annually to determine if the fee structure is properly aligned with the costs of efficiently operating NMLS for the 600,000 industry users who rely on the system to maintain their licensing or registration.

What is the status of the NMLS fee review process?

The SRR Board of Managers and the Conference of State Bank Supervisors (CSBS)1 started the NMLS fee review process in February. Based on outcomes of the fee review analysis, the SRR Board of Managers and CSBS recommend increasing NMLS processing fees for all industries, effective March 2025.

Why are CSBS and the SRR Board of Managers proposing to increase NMLS processing fees?

Recent increases in inflation, rising vendor fees, and ongoing NMLS modernization and operations costs are driving our need to update the current fee structure to ensure we have sufficient resources to sustain NMLS over the long term.

Will input from state regulators and industry be considered during the NMLS fee review?

Yes. A public notice and comment period for the NMLS fee change proposal has been completed. Here is how the proposal comment period worked:
  • A notice regarding the public comment period for the NMLS fee review proposal was posted on the Proposals for Comment page of the NMLS Resource Center. See: NMLS Fee Changes Proposal for Comment (PDF).
  • The comment period was open May 20–July 22, 2024, for NMLS industry users and other members of the public to provide feedback on the proposal.
  • CSBS and the SRR Board of Managers evaluated comments received during the public comment period.
  • Comments and responses to feedback gathered during the public comment period have been posted on the Proposals for Comment page of the NMLS Resource Center.

NMLS Public Comment Policy

CSBS will continue to engage with state regulators and industry throughout 2024 via direct outreach and town hall meetings.

Are there resources available from the industry town hall held on June 13?

Yes. Click here to view a recording of the June 13 NMLS Fee Change Proposal Town Hall.

Have NMLS fees ever changed?

Since NMLS launched in 2008, NMLS licensing fees have been largely unchanged despite various system enhancements and the addition of numerous new license types to the system. However, a few NMLS fees have been adjusted slightly up and down:
2013
  • Fingerprint Processing Fee reduced: $39 to $36.25
  • SAFE MLO Test with Uniform State Content (UST) Testing Enrollment Fee implementation: $110
  • Stand-alone UST added (paid by MLO test takers as applicable): $33
  • National Test Enrollment Fee eliminated: $92
  • Credit card service fee added: 2.5% per transaction
2014
Stand-alone UST eliminated: $33
2018
All State Test Component(s) eliminated: $69 per State Test

Which NMLS processing fees do you propose increasing?

Table 1. NMLS Processing Fees for State Licensure2 Fee changes are proposed for the Initial Set-Up or Application Processing Fee, the Annual Processing Fee, and the MLO Change of Sponsorship for State Licensure. 6
Fee Type Current Fee Amount Proposed Fee Amount
  • Company Initial Set-Up and Application Processing Fee
  • Annual Processing Fee
 $100 $120
  • Branch Initial Set-Up and Application Processing Fee
  • Annual Processing Fee
 $20 $25
  • Individual Initial Set-Up and Application Processing Fee
  • Annual Processing Fee
 $30 $35
  • MLO Change of Sponsorship
$30 $35
Table 2. NMLS Processing Fees for Federal Registration 3Fee changes are proposed for the Initial Set-Up or Application Processing Fee, the Annual Processing Fee, and the MLO Change of Employment Fee for Federal Registration.
Fee Type Current Fee Amount Proposed Fee Amount
  • Institution Initial Set-Up and Application Processing Fee
  • Annual Processing Fee
$100 $120
  • Individual Initial Set-Up and Application Processing Fee
  • Annual Processing Fee if registration occurs between January and June
$30 $35
  • Individual Initial Set-Up and Application Processing Fee
  • Annual Processing Fee if registration occurs between July and December
 $60 initial / $0 annual $65 initial / $0 annual
  • MLO Change of Employment Fee
$30 $35

Will this review include fees state agencies charge when I apply for and/or maintain my license?

No, state licensing fees collected through NMLS and transmitted to state agencies are not part of the NMLS fee structure. These fees are solely within the purview of state agencies.

Who will be impacted by the NMLS processing fee increases?

Companies and individuals in the mortgage, debt, consumer finance, and money services businesses industries who use NMLS to manage their state licensing or federal registration will be impacted by increased NMLS processing fees.

Will NMLS users be given notice of any fee changes before they go into effect?

Yes. A News Item was posted on the NMLS Resource Center following the SRR Board of Managers’ Oct. 11 decision to approve the NMLS processing fee change. The CSBS Board of Directors approved the NMLS processing fee change during their Dec. 10 board meeting. A notice regarding their decision has been posted on the News and Events.

As referenced above, the fee increases will take effect March 2025. Most NMLS industry users will not be impacted by the fee increases until they renew their license or registration between November and December 2025.

Are the NMLS processing fees that will take effect March 1, 2025, the same fee changes proposed during the public comment period?

Yes. The NMLS processing fees changes that were proposed as part of the public comment period are the same fee changes that will take effect March 1, 2025.

Are NMLS fees going to increase to pay for major NMLS enhancements planned over the next several years?

Our NMLS fee review considered several factors, including the impacts of inflation, costs of ongoing NMLS enhancements, and rising vendor fees—costs that NMLS has absorbed over the past 15 years and show no signs of abating in the future.

What do NMLS fees cover?

NMLS fees are used to pay for NMLS operations and development. NMLS operations include:

Many of the capabilities available through NMLS are mandated under the federal SAFE Mortgage Licensing Act of 2008, including mortgage loan originator testing and education enrollment and the ability to obtain criminal background checks and credit reports.

Current NMLS Fees

See NMLS Processing Fees.

1 CSBS manages NMLS on behalf of state regulators.
2 Fee changes are proposed for the Initial Set-Up or Application Processing Fee, the Annual Processing Fee, and the MLO Change of Sponsorship for State Licensure.
3 Fee changes are proposed for the Initial Set-Up or Application Processing Fee, the Annual Processing Fee, and the MLO Change of Employment Fee for Federal Registration.