On October 11, 2019, the NMLS updated its policy guidebook. The updated guidebook, in part, makes certain changes to branch (MU3) form filings and explains the requirements to select a mortgage loan originator’s Worker Classification when establishing a Company Relationship.
Specifically, the updated guidebook now states that a licensee can surrender a branch license without a branch manager associated with the branch. Additionally, the guidebook clarifies the requirements for establishing a Company Relationship and identifying a Relationship Date in NMLS. Moreover, the guidebook updates the information on Uniform Authorized Agent Reporting (UAAR).