NMLS Transition Frequently Asked Questions

Is the transition mandatory, or can I opt out?

The transition is mandatory. All business required to transition their licenses and registrations to NMLS will have a period of at least two months to do so.

What does the transition entail?

Businesses that are not current NMLS users will obtain an NMLS “unique identifier” (an identification number) by creating an NMLS record (“MU1”). This record contains basic information about the business. Separate records will also be created for certain owners and for control persons (“MU2”).

After completing the MU1 and MU2, you will need to provide any information required for your Maine license or registration. Checklists desribing the information required are available through NMLS (trusted partner link). If you are a current NMLS user with an an existing unique identifier, you simply provide the information for your Maine license or registration. Bureau staff review each transition request, and will inform you through NMLS if any information is missing. When all necessary information has been received, the transition request will be approved.

Is there a fee to transition my license or registration?

The Bureau does not assess fees to transition licenses to NMLS. However, NMLS requires a $100 initial set up fee for each MU1, and a $20 initial set-up fee for each additional licensed location (MU3).

Will I need to re-enter all my information each time my license or registration is renewed in NMLS?

No. NMLS simplifies the renewal process by using the information already in the system as the basis for renewal requests, eliminating paper renewal application forms. Changes in information can be updated at any time. At renewal, you simply attest to the accuracy of the information in NMLS and click “Request Renewal.”

Who should I contact if I have questions about the transition?

Questions regarding Maine transition requirements should be directed to the Bureau by e-mail at ccp.pfr@maine.gov, or by telephone at (207) 624-8527. Questions regarding using NMLS or technical support issues should be directed to the NMLS Call Center at 1-855-NMLS-123 (1-855-665-7123). Please remember: Bureau staff cannot answer questions regarding the use of the NMLS.

Will I still receive a license certificate after transitioning?

No. The Bureau does not issue license certificates for businesses licensed or registered through NMLS. Your business's proof of licensure is the company's record from NMLS Consumer Access (Trusted Partner Link)

I'm a sole proprieter. Do I still need to create a company account?

Yes. Unless you hold a mortgage loan originator license, you will need to create a company account rather than an individual account.