A license is tied to an individual by his or her name and NMLS number. Each person in a licensed position should hold a mortgage loan originator license in the state he or she wants to do business. To become licensed, the individual’s NMLS account is set up, and all SAFE and state prerequisites are completed by him or her.
You must start with Veterans United in order to submit an application. The license application is submitted after the above prerequisites are fulfilled, and Veterans United’s Licensing Team will follow up after it’s approved. After approval, the individual can start doing business.
The building in which you work must also be licensed. This license is tied to the branch by name, NMLS number and address. The branch and individual’s license must be approved before the individual can start doing business in that state and in that building. A business license may also be required, depending on the location of the branch office.
Veterans United’s Licensing Team prepares and submits the building license application and will notify you when it’s approved. Depending on the state’s requirements, the branch manager’s license and branch license applications may have to be submitted simultaneously.