Under Reg. Z, the NMLS ID and name would be required on mortgage, note, application, LE and CD for any dwelling-secured loan. Is that correct?
Reg. Z section 1026.36 requires the NMLS ID to be on the note, security instrument, application, LE, and CD of consumer dwelling secured loans; however, HELOCs are specifically exempt:
(b) Scope. …Paragraphs (d) through (i) of this section apply to closed-end consumer credit transactions secured by a dwelling. This section does not apply to a home equity line of credit subject to §1026.40…
(g) Name and NMLSR ID on loan documents. (1) For a consumer credit transaction secured by a dwelling, a loan originator organization must include on the loan documents described in paragraph (g)(2) of this section, whenever each such loan document is provided to a consumer or presented to a consumer for signature, as applicable:
(i) Its name and NMLSR ID, if the NMLSR has provided it an NMLSR ID; and
(ii) The name of the individual loan originator (as the name appears in the NMLSR) with primary responsibility for the origination and, if the NMLSR has provided such person an NMLSR ID, that NMLSR ID.
(2) The loan documents that must include the names and NMLSR IDs pursuant to paragraph (g)(1) of this section are:
(i) The credit application;
(ii) The disclosures required by §1026.19 (e) and (f);
(iii) The note or loan contract; and
(iv) The security instrument.
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