The NMLS (Nationwide Mortgage Licensing System & Registry) recently revised its MU forms for companies and individuals. The company Form MU1 now includes additional business activity descriptions that licensees may use to describe their scope of services. For example, a company may now designate that it engages in third party mortgage loan processing or underwriting, or lead generation.

To accommodate the non-mortgage license types being transitioned onto the NMLS, the business activities section now includes various activity designations applicable to consumer finance companies, debt collectors, and money service companies.

The new NMLS forms have also added certain new disclosure questions applicable to companies and individuals. Further information can be found here.