NMLS Kentucky Overview

The Kentucky Department of Financial Institutions (DFI) is a part of the Nationwide Mortgage Licensing System (NMLS). NMLS is a collaborative effort among state regulators to bring greater efficiency and accountability to the supervision of the mortgage industry.

NMLS is a secured, Web-based system that will allow state licensees, companies, branches and loan officers to apply for, amend, update or renew licenses online in Kentucky as well as in other participating states .

Each licensed company will have a single record in NMLS, regardless of the number of licenses it holds or the number of states in which it operates.  Each licensed company will have access to its record in the system through a secure Web site, allowing it to conveniently view license information, apply for new licenses, amend existing licenses and renew or surrender licenses throughout the year.

Licensees will have access to the system 362 days a year, seven days a week with operational assistance available through a national call center. Applicants will need a high-speed Internet connection to access the system.

(Click on the above logo to visit the NMLS Web site at: www.stateregulatoryregistry.com/nmls .)

To date, DFI has absorbed all processing fees for the mortgage entities and individuals submitting electronic applications with the NMLS. This was done to encourage the earliest possible transition of the industry to the new system. Kentucky was one of the few states to extend this courtesy to the industry. 

Beginning July 1, 2008, DFI will no longer absorb the processing fees charged by NMLS.  Therefore, all entities and individuals transitioning or submitting new applications after that date will be required to pay a processing fee directly to NMLS in order to be eligible to submit an application through the system. The processing fee paid to NMLS is separate and distinct from the licensing or registration fees payable to DFI.  

Starting Jan. 2, 2008, all companies holding a mortgage loan company or loan broker license must transition all of their existing license information onto NMLS.  This involves creating an account for the company on NMLS, completing a company record (Form MU1), a record for each Control Person, such as an executive officer, qualified individual and branch manager (Form MU2), and a record for each licensed branch office (Form MU3).

Additionally, all mortgage individuals holding a mortgage registration must have a Form MU4 submitted through the NMLS.

Starting Jan. 2, 2008, anyone who wishes to amend a license or registration must do so through NMLS by submitting all of the above indicated forms containing the amended information.

All mortgage entities and individuals have until June 20, 2008, to complete all relevant forms and submit them through NMLS.

The NMLS Getting Started page will walk you through all the steps.

Company Assistance

In order to assist your company in completing all the tasks necessary to transition your license information onto NMLS, suggested workflow outlines have been developed. From the Quick Guides Web page, select one of the following situations that applies to your company: 

1. Company license only
2. Company license with branch licenses
3. Company license with branch and loan officer licenses

If your company already has an account on the NMLS, then applying for a license in Kentucky merely involves filing your company’s NMLS record (Form MU1) and relevant branch records (Form MU3) through NMLS and mailing in the required jurisdiction-specific requirements. The same is true for individuals’ registrations.

Visit the Compliance - How to Register page for more information on Kentucky’s license requirements. Or review Kentucky DFI’s jurisdiction-specific items on the NMLS State Licensing Resource page .

If a company or individual does not currently have an account on the NMLS and is interested in applying for a license or registration in Kentucky, getting started is easy. The NMLS Getting Started page will walk you through all the steps.

Department of Financial Institutions
1025 Capital Center Drive
Suite 200
Frankfort, KY 40601
Phone: 502-573-3390
Toll free: 800-223-2579
Fax: 502-573-0086
E-mail: dfi@ky.gov