Page 5 Volume 8, Issue 1


Originators must register by July 29


2011 Priorities


EDITOR’S NOTE: The following is a list of priori- ties for 2011 established by the Conference of State Bank Supervisors. The list is as of March 2011 and was provided to the Bank Department by CSBS staff. Overall


 CSBS shall continue its significant efforts to maintain, defend, and ad- vance the state banking system and the overall role of states in financial regu- lation, consumer protec- tion and local economic development.  During implementa-


tion of the Dodd-Frank Act, CSBS will seek active participation to inform and shape policy to reflect state regulators’ views on the impact of the rules and regulations on the diversity and strength of our finan- cial institutions, the stabil- ity and sustainability of our financial system and access to credit in commu- nities of all sizes. State-Federal Coordination


 Continue to assure


active state participation in the Federal Financial Insti- tutions Examination Council (FFIEC).  Facilitate the new role


of a state bank regulator as a non-voting member of


the Financial Stability Oversight Council (FSOC) as established under the Dodd-Frank Act.  Facilitate an informa- tion-sharing agreement with the U.S. Department of Housing and Urban Development (HUD).  Facilitate an informa- tion-sharing agreement with the Treasury Depart- ment on behalf of the Consumer Financial Pro- tection Bureau (CFPB). Professional Development


 Enhance and improve the efficiency of state regulation through training programs developed and provided by the Education Foundation of State Bank Supervisors (EFSBS), partnering with our sister organizations to enhance state supervision of all financial services provid- ers, maintaining our ac- creditation program and launching its extension to include mortgage regula- tion, serving as a facilitator between state regulators and their federal counter- parts, and our develop- ment of best practices and examination tools for the states.


Mortgage  Expand the Nation-


wide Mortgage Licensing System & Registry (NMLS) to accommodate state use of the system for non- mortgage/non-depository licensing and registration.  Continue to fulfill con- tractual responsibilities as a contractor/vendor to the federal agencies to imple- ment the federal registra- tion of mortgage loan origi- nators through NMLS.


CSBS Continued from Page 4


Act/Anti-Money Launder- ing, general operations, and numerous other high- priority areas.  With the Graduate


School of Banking at Colo- rado, launched a special program on bank stress testing.


CSBS’s priorities for 2011 are listed elsewhere on this page.


Banks interested in be-


coming a new member of CSBS are encouraged to review these priorities and the CSBS Web site at: http://www.csbs.org/


For additional informa-


tion about CSBS member- ship, bankers may contact me at 501-324-9019 or at lguinn@banking.state.ar.us.


March 31, 2011 Residential mortgage


loan originators who are employees of regulated financial institutions now have until July 29, 2011, to register with a nationwide database. The Nationwide Mort- gage Licensing System and Registry (NMLS) began accepting federal registra- tions on January 31. Residential mortgage


loan originators employed by banks, savings associa- tions, credit unions or Farm Credit System institu- tions must register with the registry and obtain a unique identifier from the registry. Federal registration is required under the Secure and Fair Enforcement for Mortgage Licensing (S.A.F.E.) Act and the final rules issued by the federal financial institution regula- tory agencies and Farm Credit Administration. Following expiration of the 180-day initial registra- tion period on July 29, em- ployees of agency-regulated institutions who are subject to the registration require- ments will be prohibited from originating residential mortgage loans if they do not meet the requirements. Additional information is


posted on the Federal Reg- istration page of the NMLS


Web site at: http:// mortgage.nationwidelicensingsystem.org/ fedreg/Pages/default.aspx


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