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Question: Did I miss any recent updates to NMLS and/or are there any pending NMLS updates for which I should be aware?

Answers: NMLS published an update on May 22, 2025 advising that the NMLS Policy Committee approved a new business activity pertaining to “interim servicing,” which is defined as follows:

Collecting a limited number of contractual mortgage payments immediately after origination on loans held for sale but prior to the loans being sold into the secondary market for a period generally not to exceed 120 calendar days.

Mortgage lenders and servicers should review their MU-1 filing on NMLS and ensure their business activities are accurate and up-to-date.  State regulators rely on this information for supervision and examination purposes, as well as for mortgage call reporting requirements.  

Mortgage companies should also be aware of the following upcoming changes to NMLS:

1. The Conference of State Bank Supervisors (CSBS), which runs NMLS, will be debuting a new “NMLS Connect”, which is a component of the classic NMLS, but more focused on enhancing the MLO experience.  As such, some features of NMLS will appear differently for mortgage loan originators and mortgage companies after September 20, 2025.  
   • Note: Movement to NMLS Connect requires the removal of unsubmitted MU-4 filings.  Any pending, unsubmitted MU-4 filings will be deleted as of September 20, 2025.  
2. CSBS is redeveloping the NMLS Resource Center; the new website will launch in September 2025.  
3. CSBS will implement revised Individual Disclosure questions for MU-2 and MU-4 Individual filings in early 2026.  Revised Company Disclosure questions are planned to be implemented at a later time.  However, new or changed definitions made in connection with the Individual Disclosures may affect a company’s answers to its current Disclosure questions.  Once implemented, Individuals will need to complete the revised Individual Disclosure questions before submitting a filing.  Companies should familiarize themselves with the updated Individual Disclosure questions to determine how it may affect responses to Company Disclosure questions (if at all).
4. Version 7 of the Mortgage Call Report will be implemented in the first quarter of 2026.  Servicers will have additional reporting fields, which have not changed from how they were published in the prior request for public comment.  Companies should begin to prepare to collect this data.

See the NMLS Modernization website for further information on the above upcoming changes, including a link to a recent CSBS Town Hall presentation and recording.