All 50 states are now on the Nationwide Mortgage Licensing System and Registry, with Hawaii becoming the last state to join this week.
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It took nearly three years for the Conference of State Bank Supervisors to get every state registered on a single system, which now tracks 16,000 mortgage companies and 126,000 mortgage loan originators.
The system was designed to establish a standardized licensing process for all state-licensed originators and to increase transparency and accountability in the mortgage industry. It started with just a handful of states in January 2008.
Because states are sharing more information through the system, if problems with an originator surface in one state, others states can be alerted.
