In typical fashion, regulators are once again offering answers after the slaughter. The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) have launched a new licensing system for the mortgage industry. They are calling it the Nationwide Mortgage Licensing System (NMLS). Boy, they really got creative with, didn’t they. The NMLS is very similar the licensing system being used to regulate securities brokers and dealers.
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