Quantcast

Mortgage Grapevine

"Current License Status: Approved - Inactive"????? NMLS YOU'RE KILLING ME!

I just got this email from nmls over the weekend.

Licensed With: California - DRE
License Name: California - DRE Real Estate Salesperson License
Previous License Status: Transition Requested
Current License Status: Approved - Inactive
License Status Date: 11/20/2010

I haven't gotten through to anyone at the nmls today, does anyone know what the inactive license designation means? How do I activate it?
:/
by SanDiegoLoner November 22, 2010 4:42 PM


It's the see you need to call. Not a NMLS thing.
by turdly November 22, 2010 4:49 PM


DRE.
by turdly November 22, 2010 4:50 PM




You didn't click the button "SURRENDER" did you?

Never click that button, unless of course you surrender...although I would think better name for the button would be UNCLE

Never Surrender, and remember, without agitators, the world would never get cleaned.....




by Dr. Branker November 22, 2010 4:57 PM


Why would the NMLS be tracking a Real Estate license?
by MichiganTed November 22, 2010 5:07 PM




MichTed

cuz cali licenses its LO's & realitters together...

That's why all cali Lo's know how many square feet are in an acre.....that's impotent stuff to know.



by Dr. Branker November 22, 2010 5:52 PM


According to the Ca DRE, everything looks ok.
I wonder what's going on.
by SanDiegoLoner November 22, 2010 6:05 PM


Looks like I may not be the only one with an issue to resolve.
From the NMLS website:
NMLS Alerts
NMLS Call Center
The NMLS Call Center is currently experiencing very high call volume and a too busy message may be received when trying to contact them. We encourage you to call back during lighter call volume hours between 9:00 am 11:00 am and 5:00 pm 7:00 pm Eastern Time. We apologize for any inconvenience this may be causing.
by SanDiegoLoner November 22, 2010 6:17 PM


Can hardly wait for the guberment to be in charge of healthcare...
by desert dweller November 22, 2010 7:30 PM


Don't bother to call NMLS, they will just tell you to call the state.
by Vinnie The Leg Breaker November 22, 2010 7:39 PM


Sorry about the encryption, I was on the evo and I'm not much of a text guy. The message you received from NMLS about busy lines is canned. It appears at least 4 times a day.

Call the State. Don't look and assume it looks ok. There is a fee, or a piece of information missing on the State level. NMLS onlt does what the State tells them or they act on things you do. they take no actions of their own in almost all instances.

CALL the State. I bet you owe fees, or your education requirements have been misposted or not completed.



by turdly November 22, 2010 8:19 PM


Have your broker sponsor and attest to your relationship thru NMLS for the specifric state.
by nstrfin November 22, 2010 8:32 PM


The first problem is you're in California.

Start with fixing that and the rest should work out.




(j/k)
by kabb November 22, 2010 9:13 PM


Keep us informed as to what the cure was.
by turdly November 23, 2010 12:38 PM


i finally had to get someone from NMLS and TDSL to get on a conference call so they could figure out what i needed to do.

cluster fuck of epic proportions.
not to mention the HUGE money grab.

really fucking pisses me off when "I" have to train them on what to do on top of everything else!

nstr is correct. you have to do the whole sponsorship/attest bullshit so you'll be approved and active. good luck figuring it out because that site is a HUGE fucking nightmare.

you gotta call early, and sit on hold, but you'll get thru if you can't figure it out on your own.

good luck!
by ind-mtg November 23, 2010 1:58 PM


It means you didn't designate a broker and your license is approved but inactive so you can't do loans until a MTG BO sponsors you.
by boundlessloans November 23, 2010 7:13 PM


A lot of unhelpful responses. Here's a helpful one. Same thing happened to me. Being a sole proprietor, DRE CA broker and 1 man shop, I thought all I had to do was the MU4. Turns out you have to do an MU1 filing in your own name. Then the company (your own name if broker and not corporate license) becomes the sponsor of your MU4 licensee. $200 more, very confusing. Must get NMLS person on the line. There's a back and forth between your MU1 company account and MU4 personal account. Eventually then info is sent to DRE. DRE told me you and I are bumped to the back of the line. When they get to it, your NMLS will then go back to approved-active. I did it today. Confusing as hell, but the NMLS people will take you through it. One more thing, your company name goes in as tradeline name. Do the MU1 in your own name if you're the broker.
by LandLoanGuy November 24, 2010 6:28 PM


Thanks. I thought I had it figured out, but still listed as inactive... GODDAMMIT
by SanDiegoLoner December 20, 2010 4:24 PM


Have your compliance officer go into your NMLS and sponsor you. Then your status will go from inactive to active. When you are between companies you are inactive but still licensed. When you are with a company you go active. When inactive you can't close loans even though you are licensed.
That's what 'active' 'inactive' status means. Still licensed but can't close loans unless active. (active is when you are with a brokerage-you quit that brokerage you are inactive and can't close loans)


by boundlessloans December 21, 2010 1:52 AM


Yeah, scared me too. Same thing happened to me. I thought when they said inactive, they had found out how bad my loan production was lately and labeled me.

LandLoanGuy explained it right though.

Imagine your average Reeeliter trying to navigate through this. That's why I "love" all this NMLS grief. The more difficult it is, the happier I am.
by Joffrey Long December 22, 2010 2:05 PM


ok! please clarify to go from inactive status
to an active status license i need forms MU4 and MU1?
and i need a sponcering broker? are either of these a
sponcership i just can not get thru to get right forms/
information
by sydnylite January 21, 2011 6:22 PM


Reply

Username:
Password:
(No password? Register here)
Message:
(Don't be a nuisance.  Please avoid offensive language.  Advertisements are not allowed.)


Twitter
Facebook
LinkedIn
Already a subscriber? Log in here
Please note you must now log in with your email address and password.