Regulator Work List - NMLS Resource Center€¦ · The Work List can be used by state agencies to manage and respond to NMLS activity performed by licensees, such as license requests,

NAVIGATION GUIDE

Regulator Work List

Copyright

©2015 SRR. All rights reserved. Materials may not be reprinted or republished without the express permission of SRR. Individuals, companies, and data mentioned in these materials are fictitious and are presented exclusively for purposes of illustration or example.

This navigation guide is designed to provide regulator users with an understanding of the

functionality available in the Regulator Work List section of NMLS.

Purpose

Resources

Resources for NMLS: - NMLS Regulator Resource Center (requires login) - Regulatory User Group (RUG) at 202-803-8066 or [email protected] - NMLS Call Center at:1-855-NMLS-123 (1-855-665-7123)

i Release 2015.2

https://extranet.csbs.org/nmls/regulators/Pages/default.aspx

Copyright 2015. SRR Page 1 Release 2015.2

Manage Regulator Work List

Work List Overview ................................................................................................................ 2

Work Items and Review Items .................................................................................... 3

Manage Subscriptions ............................................................................................................ 4

Establishing Default Review Item Assignees............................................................... 4

Establishing Default Work Item Assignees .................................................................. 5

Changing Default Assignees ....................................................................................... 5

Accessing the Regulator Work Lists ....................................................................................... 6

Viewing the Regulator Work Lists ........................................................................................... 7

Filtering the Work Lists ............................................................................................... 7

Sorting the Work Lists ................................................................................................. 8

Viewing the Regulator Work List by Status Category .................................................. 8

Viewing the Regulator Work Item ........................................................................................... 10

Assigning a Single Work Item ..................................................................................... 11

Reassigning a Single Work Item ................................................................................. 11

Sections Changed ...................................................................................................... 12

Internal Notes ............................................................................................................. 12

Completing a Work Item ............................................................................................. 12

Archiving a Work Item ................................................................................................. 12

Active Licenses Section .............................................................................................. 13

Pending ACNs Section ............................................................................................... 14

Review Item Section ................................................................................................... 15

Clocks……………. .................................................................................................................. 16

Assigning Work in Bulk ........................................................................................................... 18

Assignment Workflows ................................................................................................ 18

Agency Work List & Assignment ................................................................................. 19

Review Item Assignment ............................................................................................ 20

Advance Change Notice in the Work List................................................................................ 21

Advance Change Notice Overview .............................................................................. 21

View Advance Change Notice Work Items .................................................................. 21

Manage the Advance Change Notice ..................................................................................... 24

Viewing all ACNs for an Entity .................................................................................... 24

View Advance Change Notice Information Under the Composite View Tab ............................ 25

Update ACN Status (Regulator Status) .................................................................................. 26

Other Current Regulator Status Information ........................................................................... 27

Key Terms .............................................................................................................................. 28

Appendix I - Review Item Types Table ................................................................................... 31

Appendix II Status Category Chart ......................................................................................... 38

Table of Contents



Work List Overview

The Work List can be used by state agencies to manage and respond to NMLS activity performed by licensees, such as license requests, surrender requests, amendments to filings, etc. In an effort to accommodate diverse state agency workflows, the regulator work lists have filtering options allowing users to review specific actions taken in the System.

Action taken by all entities (company, branch, and individuals) is automatically categorized under one of the following “Work Item Categories” listed below.

Filing-Based Categories (Performed within a filing)

Other Non-Filing Categories (Performed outside a filing)

Business Activities (Company, Branch) Authorized Agents (Company)

License Requested (Company, Branch, Individual) Financial Statement (Company)

Withdrawal Requested (Company, Branch, Individual) QI/BM Removal (Individual Access Removed)

Surrender Requested (Company, Branch, Individual) Credit Report (Individual)

Transition Requested (Company, Branch, Individual) Sponsorship Request (Individual)

Transition Cancelled (Company, Branch, Individual) Sponsorship Removal (Individual)

Amendment (Company, Branch, Individual)

Advance Change Notice (Company, Branch)

All work items will contain one or more “Review Item Types”, also referred to as review items. Examples of review items include, Identifying Information, Books and Records Information, Employment History, etc. In comparison to the work item categories listed above, review item types are numerous. A table of review item types and their associated triggers can be found in Appendix I of this navigation guide. An illustration of the relationship between a work and review items can be found on Page 3.



Work Items and Review Items

A state agency’s NMLS Account Administrators can determine which review items the agency will receive in their work lists. These decisions are referred to as review item subscriptions. For example, if a state agency does not need to be notified of changes to books and records information, they have the option to unsubscribe from that particular review item. For more information, continue to Manage Subscriptions.



Manage Subscriptions

The Manage Review Item Subscriptions page allows Account Administrators within a state agency to choose which review items should generate work items for their agency. The deci-sion to include or exclude a review item can be made at the entity type level (Company, Branch, and Individual review items) to allow agencies to specify work list preferences at a more granular level.

To access the Manage Review Item Subscriptions page: 1. Click the Admin tab. 2. Click the Manage Review Item Subscriptions link on the left navigation panel. 3. Select the checkboxes next to the appropriate Review Item Type(s). 4. Click the Save button.

As discussed above, the review items are organized according to Company, Branch, and Indi-vidual Review Items. Each entity type section contains review items generated as a result of an action taken on a licensing form (Company (MU1), Branch (MU3), and Individual (MU2/MU4) Forms), referred to as “Filing Changes”. Review items under the Filing Changes are dis-played in the same order they would appear in the licensing forms. There is also a section for “Other Non-Filing Events” that capture actions taken outside of filings.

Establishing Default Review Item Assignees

In addition to having the ability to subscribe to review items, Account Administrators also have the ability to designate one default assignee per entity and event type. Assignees are repre-sented in the drop-down menu with their NMLS User Name and can be any administrator or Organization User with the “Access Work Items” role. When subscribed review items generate, the default assignees designated are automatically assigned the item and will be viewable in their “My Work List” page under the Tasks tab. Agen-cies not interested in designating default assignees, should leave “Unassigned” in the drop-down menu.



Establishing Default Work Item Assignees

Similar to Default Review Item Assignees, this page allows Account Administrators to establish default assignees at the work item level. The default assignees designated will also be as-signed all review items included in the work item, unless a review item assignee was already established using:

Default assignments, or

From the Review Item Assignment page The work item will be viewable in the “My Work List” page under the Tasks tab.

Agencies not interested in designating default assignees, should leave “Unassigned” in the drop-down menu. Due to the fact that these items are categorizations, state agencies do not have the option of unsubscribing from work items.

To access the Manage Work Item Default Assignees page: 1. Click the Admin tab. 2. Click the Manage Work Item Default Assignees link on the left navigation panel. 3. Select the Default Work Item Assignee User Names 4. Click the Save button.

Changing Default Work and Review Item Assignees Default assignees can be changed at any time, however, the changes will not be retroactive. For example:

If an Account Administrator changes a default assignee from Assignee 1 to Assignee 2

Work and review items generated before the change will stay assigned to Assignee 1.

Work and review items generated immediately after the change will be assigned to

Assignee 2.

If a default assignee is deleted or disabled

Work and review item assignee will be updated to “Unassigned”

Items generated before the user is deleted or disabled will stay assigned to the user

Filter by the individual’s user name on the Agency Work List & Assignment and the Review Item Assignment pages to reassign appropriately.



Accessing the Regulator Work Lists

1. Click the Tasks tab.

2. Click the Work List link in the submenu.

NOTE: By default, Organization Users will be directed to the My Work List page. Account Administrators will be directed to the Agency Work List & Assignment page.

The My Work List page displays work and review items currently assigned to the logged in user.

The Agency Work List & Assignment page displays all work items generated for the agency and includes the ability to bulk assign.



Viewing the Regulator Work Lists

Filtering the Work Lists

The work lists can be filtered to display a specific list of work items using Filtering Options. To view a list of all items, click the Clear button and then click the Filter button. The clear button will restore the default settings mentioned above (incomplete, non-archived work items). In order to allow regulators to work off of the filtered list, the System maintains filter criteria when a user navigates to and from the work lists.

Both the My Work List and the Agency Work List & Assignment pages are defaulted to display Incomplete, Non-Archived work items and sorted by the most recent work item to the oldest work item. Both lists will display up to100 items before pagination initiates.

Filtering Option Description

Entity ID The unique identifier, created by NMLS, for a company, branch, or individual

Entity Name Name of company, branch, or individual

Entity Type Company, Branch, or Individual

Active License Type List of license types for the state agency (e.g. Mortgage Broker, Mortgage Loan Originator, etc.)

Status Category The category of a license status (multi-select ability). For more information, see Viewing the Regulator Work List by Status Category

Work Item Category A category NMLS assigns to an action taken by a licensee (e.g. License Requests, Amendments, etc.)

Review Item Type Contained within a work item, represents each separate action taken by a licensee (e.g. Identifying Information, Disclosure Questions, etc.)

Default Sort Order Sort in ascending or descending order by entity name or work item creation date

Assignment (unique to Agency Work List & Assignment)

List of Account Administrators and Organization Users that have one or more work items assigned

Begin/End Date Date range to search the work lists by work item creation date, format: (MM/DD/YYYY)

Archived/Non-Archived Items

Work items designated as Archived or Non-Archived by a user within a state agency. For more information, see Archived and Non-Archived Items

Complete/Incomplete Items Work items designated as Complete or Incomplete by a user within a state agency. For more information, see Complete and Incomplete Items

NOTE: If the regulator filters either of the work lists by a company’s Entity ID, the results will return all work items for the company, any associated branches, and sponsored individuals.



Sorting the Work Lists

In addition to Filtering Options, the regulator work lists also contains sorting capabilities for each column header. It is important to note that the sort is not maintained when navigating to and from the work lists. If your desired workflow is to review the oldest work item to the newest or assign work alphabetically based on Entity Name, the “Default Sort Oder” Filtering Option should be used.

The work lists can be filtered by using the multi-select status categories. These categories do not represent the actual License Status. Instead, all of the license statuses have been grouped by the following categories: Pending, Approved, or Terminal. State agencies can use the status categories to prioritize amendments. For example, if a regulator wishes to focus on amendments submitted by licensees not yet issued a license, the “Pending” Status Category should be utilized.

Viewing the Regulator Work Lists by Status Category

The chart below identifies each License Status and the corresponding Status Category:

Status Category License Statuses

Pending Denied – On Appeal Pending – Deficient Pending – Incomplete Pending – Review Pending – Withdrawal Requested Transition Requested

Approved Approved Approved – Conditional Approved – Deficient Approved – Failed to Renew Approved – Inactive Approved – On Appeal Approved – Surrender/Cancellation Requested Revoked – On Appeal Suspended Suspended – On Appeal Temporary Cease And Desist Terminated – Failed to Renew




Terminal Denied Revoked Terminated – Expired Terminated – Ordered to Surrender Terminated – Surrendered/Cancelled Transition Cancelled Transition Rejected Withdrawn – Application Abandoned Withdrawn – Voluntary Without Licensure

The chart below identifies each License Status and the corresponding Status Category (continued from page 8).

Status Category & Active License Type(s) Columns

When the Status Category displays as “Terminal,” the License Type(s) will not display under the Active License Type(s) column, as this column only accounts for active licenses.

When filtering by Status Category, Work Item(s) will display any entity that matches that Sta-tus Category. If an entity has multiple licenses that are in a different Status Category then the selected filtering options, these Work Items will also display.

When selecting a work item that has a “Terminal” Status Category, the Active License(s) section will display as No Licenses Found if an entity only has Terminal Licenses.

NOTE: Although a license under a “Terminal” Status Category will not display in the Active Licenses section, regulators can proceed to Composite View to view a Terminal license.



Viewing the Regulator Work Item

To view a specific Work Item:

1. Click the View Work Item icon.

A regulator Work Item is generated as a result of the processing of filings and managing of

license sponsorships. A Work Item may contain one or more Review Items. For example, if

multiple sections of the form are changed, each section changed creates a separate Review Item within the Work Item.

The Regulator Work Item screen is separated into the following areas:

Work Item

Active Licenses

Review Item(s)

Pending Advance Change Notices



In the work item section the user can:

Initially assign a work item or change an existing assignee

View Sections Changed (as of the most recently submitted filing)

Provide Internal Notes (visible to users within the same agency)

Complete a work item

Archive a work item

Work Item Section

To assign a single work item:

1. From the Regulator Work Item screen, click the Work Item Assignment dropdown menu.

2. Select the User Name of the user that will be assigned the Work Item.

3. Click the Save button. 4. The work and corresponding review items will display in the user’s My Work List page

(except the Unassigned assignee option).

Assigning a Single Work Item

Reassigning a Single Work Item

Work items can be assigned to an Account Administrator or Organization User with the work item role. The selected assignee will also be assigned all review items included in the work item, unless a review item assignee was already established using:


From the Review Item Assignment page

Work items can also be assigned in bulk. For information on assigning multiple work items at once, see the Assigning Work in Bulk section of this navigation guide.

In addition to reassigning the work item, the new assignee selected will trickle down to the review items also assigned to previous owner.

For example: 1. Assignee 1 is assigned an Amendment Work Item

As a result, Assignee 1 is also assigned all review items contained in the work item 2. Work Item assignee is changed to Assignee 2

As a result, Assignee 2 is now assigned the single work item and review items previously assigned to Assignee 1



To complete a work item:

1. Select the checkbox next to Is Work Complete?

2. Click the Save button.

Completing a work item indicates the item was fully reviewed and no follow up is necessary by the licensee or state agency. This action should be the last step in the review process after thoroughly vetting the work item.

Completing a Work Item

NOTE: Work items marked as complete but not archived will be systematically deleted from the regulator work lists 90 days from the creation date. Once deleted, an item cannot be

retrieved. However, all filing history is retained under the State Historical Filings section under the Composite View tab.

Archiving a Work Item

To archive a work item:

1. Select the checkbox next to Archive This Item?

2. Click the Save button.

The System will save an archived work item indefinitely and allow the item to be retrieved using the filtering options on the work lists. For example, state agencies will often choose to archive an item in order to maintain internal notes captured during the application review process. However, as of 2013.4 Release, all internal notes will be kept indefinitely in the Regulator Log section under the Tasks tab.

Sections Changed

This area within the work item details contain any changes submitted in any subsequent fil-ings since the work item was created. Clicking on one of the links will open a new browser tab with the changes displayed in redline mode.

Internal Notes

Entering internal notes in this section will automatically populate the Regulator Log which can only be see by other members of your state agency. If you wish to internally communicate findings or actions taken resulting from a particular work item, the internal notes data field should be utilized. In a specific scenario where you have to reference a note entered, the note is kept in the Log indefinitely. There is a 4,000 character limit in this field.



The Active Licenses section provides the following information:

Click the License Type link to Manage and create License Items

View the licensee’s record under the Composite View tab

Update the License Status

Active Licenses Section

The Active Licenses section will display the licenses in the Approved and Pending Status Cat-egories (refer to chart on pages 8 and 9).

Column Header Description

License Type Name of license

Status Current license status (e.g., Approved, Pending-Incomplete, etc.)

Date The date of the License Status was updated

License Items A count of active license items

Prevent Renewal Indicates if the regulator blocked the license from requesting renewal

Continuous Displays a count for the Continuous Clock

Reset Displays the count for the Reset Clock

Pause Displays the count for the Pause Clock



Pending ACNs Section

This section contains a real-time list of all pending ACNs for the entity. The View icon allows the regulator to manage the ACN. Below is a description of each of the column headers found in this section.

Column Header Description

View Icon Navigates user to Advance Change Notice Detail page where are regulator can take update the ACN Status

Change Type Describes the change (e.g. Main Address, Legal Status, etc.)

ACN Updated Date The date the ACN was created or modified

Effective Date The date the change will take place (entered by licensee)

Notice Given (Days) Calculated from the Effective Date provided by licensee

Regulator Status Status of the ACN e.g. New, Amended, Under Review, On Hold, Ap-proved, or Rejected

Record Name Unique to certain ACNs—follow up with Sarah



In the Review Items section users can:

View each individual change completed by licensee

Assign or reassign the review item

Complete a review item

Enter a Review Date

Enter Internal Notes (will automatically populate the Regulator Log)

NOTE: The System does not require each review item to be marked as complete. Some state agencies will choose to mark the work item as complete.

Review Items Section

Viewing Items Changed

To view the details of the item changed: 1. Click the link of the Review Item (e.g., Address Change or Name Change).

The fields in the Review Items section can be filled out independently; none of the fields are required nor are they required in order to complete a work item.



Types of Clocks

The clocks measure the time taken by a regulator to process an application. Clock calculations are based on license status changes and are computed in calendar days. Clocks are based on the license status date, not the System date the Status is updated. The lifecycle of a clock does not begin until the License Status is set to Pending - Review. The lifecycle of a clock ends when a licensing decision is made (e.g., Approval, Denial, etc.). The clock values are no longer updated once a final status is set.

Clocks

Type of Clock Description

Continuous Clock Counts the number of days since the Clock started, regardless of the

status changes before a licensing decision is made

Reset Clock Counts the number of days from the most recent Pending - Review to a final decision, assuming there are no status updates in between

Pause Clock Counts the number of days that the license Status is Pending - Review prior to a decision. A license status changed to a status other than Pend-ing - Review holds the Clock until the Status is set back to Pending - Re-view or a final decision is made

Some state agencies have specific statutes that require regulators to make a licensing deci-sion within a certain number of days. Depending on the agency’s statute, an application in a dormant status such as Pending - Deficient, Pending - Incomplete, or Pending - Withdrawal Requested, may not count against the regulator. Regulators can use one or more of the clocks to track the progress of an application.



Scenario Continuous Clock

Displays Pause Clock

Displays Reset Clock

Displays

On 09/01/2014 application is requested. The System sets the license Status to Pending - Incomplete.

Null Null Null

0 0 0 On 09/04/2014 the regulator sets the license status to Pending - Review with a Status Date of 09/04/2014.

1 1 0 On 09/05/2007 the regulator sets the license Status to Pending - Deficient with a Status Date of 09/05/2014.

3 1 0 On 09/07/2014 the regulator sets the license Status to Pending - Review with a Status Date of 09/07/2014.

On 09/12/2014 there is no change to the license Status.

8 6 5

Values are retained indefinitely

Values are retained

indefinitely

Values are retained

indefinitely

On 09/13/2014 the regulator sets the license Status to Approved with a Status Date of 09/13/2014.

The scenario below follows one license request through the complete lifecycle.

In this scenario, a company submits a license request, via the Company (MU1) Form, on 09/04/2014.

Continuous Clock Pause Clock Reset Clock

Start: The license Status is set to Pending - Review.



No change: The license Status is set to another pending status (e.g., Pending - Deficient or

Pending -Incomplete).

Pause: The license Status is set to another pending status (e.g., Pending - Deficient or Pending - Incomplete).

Reset: The license Status is set to any status other than Pending - Review (e.g., Pending - Deficient or Pending - Incomplete).

End: The license Status is set to any status other than a pending status (e.g., Approved or Denied).

Resume (from where it paused): The license Status is set back to Pending - Review.

Resume (from zero): The license Status is set back to Pending - Review.



The table below explains the clock functionality.



Assigning Work in Bulk

Assignment Workflows

State agencies have the ability to assign work and review items in bulk using the Agency Work List & Assignment and Review Item Assignment pages. These two bulk assignment options allow regulators to override established default assignments by reassigning as appropriate. Agencies not utilizing the default assignment functionality may also choose to assign work on a more granular level using these lists.

If your agency does not use the assignment feature in NMLS

Under the Admin tab Leave all Work Item Default Assignments as “Unassigned”

Leave all Review Item Default Assignments as “Unassigned”

Under the Tasks tab

Use the Agency Work List & Assignment page exclusively

If your agency assigns work by NMLS ID



Under the Tasks tab Use the Agency Work List & Assignment page exclusively, or

Assign Work and Review Items to yourself, so they will appear in your My Work List

If your agency assigns work based on event type (e.g. License Requests, Direct Owner

changes, etc.) OR entity type (Company, Branch, Individual)

Under the Admin tab

Designate Default Work Item Assignees

Designate Default Review Item Assignees

Under the Tasks tab Use the My Work List to work on items assigned to yourself

Use the Agency Work List & Assignment page to view all activity across your agency

If your agency assigns work based on event type AND license name

Under the Admin tab

Leave all Work Item Default Assignments as “Unassigned”


Under the Tasks tab Use the Agency Work List & Assignment to bulk assign after filtering by “Active

License Type”

If your agency assigns work alphabetically based on entity name



Under the Tasks tab Use the Agency Work List & Assignment to bulk assign after filtering by “Default



To assign work items in bulk:

1. Filter list for desired event type (e.g. License Requests, by NMLS ID, etc.)

NOTE: This page will display 100 results before paginating.

2. Select the checkbox next to each work item, or use the Select All link. 3. Select the User Name of the user that will be assigned the Work Item.

4. Click the Assign button. 5. The work and corresponding review items will display in the user’s My Work List page


Work items can be assigned to an Account Administrator or Organization User with the work item role. The selected assignee will also be assigned all review items included in the work item, unless a review item assignee was already established using:


From the Review Item Assignment page

Agency Work List & Assignment



Review Item Assignment

This page allows regulators to assign review items in bulk. After entering search criteria, the System will return work items containing the Review Item Type selected. The primary function of this page is to bulk assign, it is anticipated that agencies will use the My Work List and Agency Work List & Assignment pages to fully process the work items.

To assign review items in bulk:

1. Search for desired Review Item Type (e.g. Name Change, Address Change, etc.)

1. NOTE: This page will display 100 results before paginating 2.

2. Select the checkbox next to each work item, or use the Select All link. 3. Select the User Name of the user that will be assigned the Work Item.

4. Click the Assign button. 5. The work and corresponding review items will display in the user’s My Work List page




Advance Change Notice Overview

To view all ACNs in the work lists:

1. Select Amendment from the Work Item Category drop-down menu.

2. Select Yes from the Includes ACN drop-down menu.

3. Click the Filter button.

NOTE: The status categories (Pending, Approved, Terminal) can be used to prioritize amendments.

The Advance Change Notice (ACN) functionality allows companies to provide an effective date for certain changes to their record. These specific changes are completed using the Company (MU1) or Branch (MU3) Form respectively. When the information is updated it will be viewable in the licensees Composite View, Reports, and NMLS Consumer Access records as well as data download files. Regardless of the ACN Status, the change processes automatically on the effective date provided. Companies will be required to re-upload any final supporting documents on the effective date, as those submitted as the Advance Change Notice Document Type during the notification sub-mission are considered proposed. The System consolidates ACN review items generated in a single filing. Example: Company submits 3 new Direct Owners on a single filing System will generate the following

A single “Amendment” Work Item Within the work item - a single Direct Owner Review Item Clicking the Direct Owner link within the review item will display changes to the Di-

rect Owner section in redline

Even though the System consolidated the direct ownership changes, regulators will still be able to change the ACN status of each owner independently.

Advance Change Notice in the Work List

View Advance Change Notice Work Items



To view specific ACNs in the work lists:

1. Select the event type from the Review Item Type drop-down menu.

2. Select Yes from the Includes ACN drop-down menu.

3. Click the Filter button.

NOTE: The status categories (Pending, Approved, Terminal) can be used to prioritize amendments.

View all Pending ACNs for a specific entity within a Work Item: 1. Click the View icon to review the details of the ACN work item. 2. Within the work item details, review the Pending ACNs section

To view the details of each ACN and change the ACN Status, click the View icon next to the Change Type.



View all ACNs for an Entity (Pending, Processed and Cancelled ACNs) 1. Click the Tasks tab. 2. Click Company or Branch in the submenu. 3. Click the Manage Advance Change Notices on the left navigation panel.



Manage the Advance Change Notice

To view a specific ACN:

1. Click the View Detail icon.

The Advance Change Notice Detail screen is separated into the following areas:

View ACN details (links to

Composite View)

Current Regulator Status and Update Regulator Status

Other Current Regulator Status (for the same ACN)

Licenses

Breadcrumb back to work item details



To view ACN information: The links will all open in a separate browser tab

View Advance Change Notice Information Under the Composite View Tab

Name of Link Composite View Destination and Purpose

Filing Prior to the Initiation of the ACN

Historical Filing - allows regulators to view the record as it currently stands (no redline)

View Change Notice Detail

Historical Filing - highlights the ACN in redline

View Document Uploads Document Uploads - This allows regulators to verify proper documentation was uploaded in support of the change

View Change Notice History

Advance Change Notice History - provides regulators with historical information on ACN statuses and comments entered by their agency

Manage the License

As a result of an ACN, regulators may need to update the license status and set or clear outstanding license items. Click the License Type link to perform these tasks.



Update ACN Status (Regulator Status)

Make a decision on the ACN request by utilizing the following statuses:

ACN Status Description

New System-set status for any new ACN event

Amended System-set status for amendments to an existing ACN event, including amendments to the Effective Date (if modified to an earlier date)

Under Review The regulator acknowledges the receipt of the ACN, but is currently reviewing the change

On Hold The regulator has reviewed the ACN but may need additional information prior to approval (e.g. additional documentation for the change)

Approved The proposed change has been approved by the regulator

Rejected The proposed change has been rejected by the regulator

Important ACN Status Notes: For those state agencies not utilizing the ACN functionality, the status on an ACN event

may remain New or Amended for the duration of the notice period.

The ACN status (including rejected) will not prevent the change from taking effect on the effective date.

The On Hold ACN status can be used in place of setting a license item, since both the status and comment will be sent to the licensee via email.

If an entity modifies an ACN in an Under Review, On Hold, Approved, or Rejected status, the following rules will apply:

If the only change to the existing ACN is a modification to the Effective Date that is now a later date the status will not change.

If the change to an existing ACN is a modification of the content or if the Effective Date is changed to an earlier date the status will revert to Amended.



To update an ACN Status 1. Select the appropriate status from the Regulator Status drop-down menu. 2. Enter Comments to communicate with your licensee. 3. Click the Update button.

Other Current Regulator Status Information

As previously mentioned, it is important to review statuses and comments placed by other regulators also processing the ACN. Comments can be seen by other regulators, the licen-see, and the NMLS Support Staff. Licensees are also emailed each time an ACN status is updated. The email includes the updated status and any corresponding comments.

All aspects of the Advance Change Notice Detail page should be reviewed in order to make an informed decision on the appropriate ACN status. Follow the steps below to update an ACN status.



Key Terms

Authorized Agent - An entity designated by a licensee to provide money services on behalf of the licensee.

Clock - A clock counts the number of calendar days elapsed since an application was accepted by the regulator. NMLS tracks three types of clocks: Continuous, Reset, and Pause. The clocks assist jurisdictions in tracking the number of days the application has been pending. Refer to definitions for Clock - Continuous, Clock - Reset Clock, and Clock - Pause for more details.

Clock - Continuous - Counts the number of calendar days between the date on which the application/license was first set to “Pending – Review” and the application/license decision date. For example, if an application Status is set to “Pending – Review” on Day 1, then set to “Pending – Deficient” on Day 10, then set to “Pending – Review” on Day 20, the reset clock would have a value of 20 on Day 20.

Clock - Pause - Counts the number of calendar days that the application/license was in “Pending – Review” status prior to the application/license decision date. For example, if an

application Status is set to “Pending – Review” on Day 1, then set to “Pending – Deficient” on Day 10, then set to “Pending – Review” on Day 20, the value of the Pause Clock on Day 20 would be ten (10) because it paused while in “Pending – Deficient” status.

Clock - Reset - Counts the number of calendar days between the date an application was last set to “Pending – Review” status and the application/license decision date. The clock is

restarted each time the application is set to “Pending – Review” status. For example, if an

application Status is set to “Pending – Review” on Day 1, then set to “Pending – Deficient” on Day 10, then set to “Pending – Review” on Day 20, the reset clock would start over at zero (0) on Day 20.

Entity - An entity is a company, branch, or individual with a record in the System. This includes all companies (MU1), branches (MU3), and individuals (MU2 and MU4). License ID - An NMLS-generated, unique ID for each license/registration filing comprised of a combination of the filing and type of license. This is a reference number for the System.



Key Terms

License Item - A Deficiency or a Jurisdiction Requirement indicating further action is required by the licensee/applicant to satisfy the regulator’s review of the filing. Deficiencies are different from Jurisdiction Requirements in that something is unacceptable versus merely expected.

Deficiency - A type of license item set by the regulator or the System to inform the applicant that a license/application is lacking required information or documentation provided is insuffi-cient or incorrect and further action is required by the licensee. Only certain deficiencies can be set by the by the System (e.g. Funds Pending, Financial Statement Net Worth, Financial Statement Insufficient and Financial Statement Not Submitted). Deficiencies set by the System can be cleared by the regulator with the exception of the Funds Pending Deficiency.

Jurisdiction Requirements - A type of license item set by the regulator or the System to in-form the applicant that additional information/documentation is required. This additional in-formation must be sent to the regulator outside NMLS before the regulator can approve the filing.

License Item Cleared Date - The date and time a license item was cleared by the regulator or the System.

License Item External Note - A note entered by a regulator and associated to a license item that can be viewed by regulator users and the company or individual to which the license item is assigned.

License Item Internal Note - A note entered by a regulator and associated to a license item that can only be viewed by regulator users within their agency.

License Number - The regulator-assigned number assigned to each license/registration at the time of approval.

License Sponsorship - A company’s indication that the individual will conduct business under a specific license/registration for the company. Only a company user may request sponsorship of the individual’s license and the company must already have an established relationship with the individual within the System. License sponsorship must be approved by the regulator.

License Status - Indicates the Status of the license or registration. The System sets the first license status upon submission of the filing; a regulator sets the subsequent license status(es) over the life of the license.

License Status Date - The date on which the license Status was implemented, usually as assigned by the regulator. This date cannot be post-dated.

License Type - Represents the types of licenses or registrations a jurisdiction may issue to a company, branch, or individual.



Key Terms

Regulator Review Item - A regulator Review Item is created due to license/registration requests, sponsorship requests/removals, and filing amendments. A Work Item found in the regulator Work List may consist of one or more Review Items. Review Items can be assigned to system users within the agency.

Regulator Work Item - Regulator Work Items are generated as a result of the processing of filings and managing license sponsorships. A regulator Work Item is created by a filing or sponsorship request. Work Items can be assigned to system users within the agency.

Regulator Work List - The Work List contains a collection of Work Items. Regulator Work Items can be assigned to system users within the agency.



Review Item Type Form(s) Trigger Action

ACN Affiliate/Subsidiary

Cancelled

Company(MU1)

A filing was submitted to surrender or withdraw all licenses within the Company (MU1)and a pending Affiliate/Subsidiary ACN

exists.


New/Amended*

Company(MU1)

A filing was submitted to:

Add a new Affiliate/Subsidiary, or

Modify an existing Affiliate/Subsidiary’s Name

or Control Relationship.


Processed

Company (MU1)

The Affiliate/Subsidiary ACN processed a day after the entered Effective Date.

ACN Direct Owner Cancelled Company (MU1)


Surrender or withdraw all licenses within the

Company (MU1) and a pending Direct Owner ACN exists.

Or, the Direct Owner removed Company Access

ACN Direct Owner New/

Amended*

Company (MU1)


Add a new Direct Owner, or

Modify an existing owner’s Percentage of

Ownership.

ACN Direct Owner Processed Company (MU1)

The Direct Owner ACN processed a day after the entered Effective Date.

ACN Indirect Owner Cancelled Company (MU1)


Surrender or withdraw all licenses within the

Company (MU1)and a pending Indirect Owner ACN exists.

Or, the Indirect Owner removed Company

Access

ACN Indirect Owner

New/Amended*

Company (MU1)


Add a new Indirect Owner, or

Modify an existing owner’s Equity Owner in

Which Interest is Held, Percentage of Owner-ship, or change in Control Person

ACN Indirect Owner Processed Company (MU1)

The Indirect Owner ACN processed a day after the entered Effective Date.

ACN Legal Status Cancelled Company (MU1)

A filing was submitted to surrender or withdraw all licenses within the Company (MU1) and a pending Legal Status ACN exists.

ACN Legal Status

New/Amended*

Company (MU1)


Modify the Formation State, Formation Coun-

try/Province, Formation Date, and/or Legal Status

ACN Legal Status Processed Company (MU1)

The Legal Status ACN processed a day after the entered Effective Date.

Appendix I Review Item Types Table

*All ACN New/Amended Review Item Types will be retired as of April 18, 2015. The trigger actions currently described for these items will generate the top level amendment. For example, adding a new Direct Owner will generate the Direct Owner Review Item Type instead of the ACN Direct Owner New/Amended Review Item.




ACN Main Address Cancelled Company(MU1)/Branch (MU3)

A filing was submitted to surrender or withdraw all licenses within the company or branch form and a pending Main Address ACN exists.

ACN Main Address

New/Amended*

Company(MU1)/Branch (MU3)

A filing was submitted to change a company or branch’s main address.

ACN Main Address Processed Company(MU1)/Branch (MU3)

The Main Address ACN processed a day after the entered Effective Date.

ACN Name Change Cancelled Company(MU1)/Branch (MU3)

A filing was submitted to surrender or withdraw all licenses within the company or branch form and a pending Name Change ACN exists.

ACN Name Change

New/Amended*


A filing was submitted to change a company or branch’s Name.

ACN Name Change Processed Company(MU1)/Branch (MU3)

The Name Change ACN processed a day after the entered Effective Date.

ACN Other Trade Name

Cancelled


A filing was submitted to surrender or withdraw all licenses within the company or branch form and a pending Other Trade Name ACN exists.


New/Amended*

Company (MU1)

Branch (MU3)


Add a new OTN in your state

Modify an existing OTN in your state

Delete an existing OTN in your state


Processed


The Other Trade Name ACN processed a day after the entered Effective Date.

ACN Qualifying Individual

Cancelled

Company (MU1) A filing was submitted to:

Surrender or withdraw all licenses within

the Company (MU1)and a pending QI ACN exists.

Or, the QI removed Company

Access


New/Amended*

Company (MU1)

A filing was submitted where:

A new QI was added in your state

An existing QI’s Industry Type has changed

in your state


Processed

Company (MU1) The Qualifying Individual ACN processed a day after the entered Effective Date.

Review Item Types Table (continued).

*All ACN New/Amended Review Item Types will be retired as of April 18, 2015. The trigger actions currently described for these items will generate the top level amendment. For example, adding a new Direct Owner will generate the Direct Owner Review Item Type instead of the ACN Direct Owner New/Amended Review Item.




Address Change Company(MU1)/Branch

(MU3)

A filing was submitted with an update to the Main Address of a company or branch.

Affiliates and Subsidiaries Company(MU1)

A filing was submitted with an addition, removal, or update to control Affiliates/Subsidiaries for a company.

Approvals and Designations Company (MU1)

A filing was submitted with a change to Approvals and Designations information.

Authorized Agent File Upload N/A An Authorized Agent file was successfully uploaded.

Authorized Agent No Agents N/A A company attests that they do not have any Authorized Agent relationships to report.

Authorized Agents No Changes N/A A company attests that there are no changes to the current Authorized Agent relationships.

Bank Account Information Company (MU1)

A filing was submitted with a change to bank account information.

Books and Records Information Company (MU1)

Branch (MU3)


The state has been added to one or more new or existing Books and Records location(s)

The state has been removed from one or more existing Books and Records location(s)

Information has been updated for one or more existing Books and Records location(s) currently associated to the state

Branch Manager Association

Removal

N/A The designated branch manager listed on the Branch (MU3) Form removed Company

Access

Branch Managers Branch (MU3) A filing was submitted where:

Information has been added, removed, or updated for a Branch Manager

An industry type has been added or removed for a Branch Manager

Business Activities Company (MU1)

Branch (MU3)


Business Activities were added or removed

A state was added or removed from an existing activity





Credit Flag Counts Changed N/A Credit report summary flags for a recent credit report have changed from the summary flags received for the previous credit report available to the jurisdiction.

Credit Flag Degraded N/A At least one credit report summary flag for a recent credit report has degraded from the summary flags received for the previous credit report available to the jurisdiction.

Credit Flag Improved N/A At least one credit report summary flag for a recent credit report has shown improvement from the summary flags received for the previous credit report available to the jurisdiction.

Credit Score Degraded N/A A recent credit report shows the credit score has degraded by a specified threshold from the previous credit report available to the jurisdiction.

Direct Owners Company (MU1)

A filing was submitted with an addition, removal, or update of information in the Direct Owners and Executive Officers section.

Disclosure Explanations Company (MU1)

Individual (MU2 /

MU4)

A filing was submitted with an addition, removal, or update of information in the Disclosure Explanation section.

Disclosure Questions Company (MU1)

Individual (MU2 /

MU4)

A filing was submitted with a change in response to one or more Disclosure Questions for an entity.

Document Uploads Company (MU1)

Branch (MU3)

A filing was submitted with an addition, removal, or update of information in the Document Uploads section. Jurisdiction is relevant, where applicable.

Education Compliance Individual (MU4)

A filing was submitted requesting a license with education requirements.

Employment History Individual (MU2 /

MU4)

A filing was submitted with a change to the Employment History of an individual.

Expense Information Branch (MU3)

A filing was submitted with an update to expense information.





Financial Institutions Company (MU1)

A filing was submitted with an addition, removal, or update to Financial Institution information.

Financial Statement Financial Statement

A filing was submitted with a new or updated

Financial Statement where:

Financial Statement Type is annual

Company is relevant to the regulator

License is not terminal

Identifying Information Company (MU1)

Branch (MU3)

Individual (MU2 /

MU4)

A filing was submitted with a change to Identifying Information.

Indirect Owners Company (MU1)

A filing was submitted with an addition, removal, or update to Indirect Owners.

Legal Status Company (MU1)

A filing was submitted with a change to Legal Status.

License Requested Company (MU1)

Branch (MU3)

Individual (MU4)

A filing was submitted requesting a license.

Name Change Company (MU1)

Individual (MU2 /

MU4)

A filing was submitted with a change to the Legal Name.





Non-Primary Contact Employee Company (MU1)

A filing was submitted in which:

Information has been added, removed, or updated for a non-primary Contact Employee

The industry type has been added or removed for a non-primary Contact Employee

The state has been added or removed for a non-primary Contact Employee

Operation Information Branch (MU3)

A filing was submitted with a change to Operation Information.

Other Business

Individual (MU2 /

MU4)

A filing was submitted with a change to Other Business information.

Other Trade Names Company (MU1)

Branch (MU3)


The state has been added to one or more new or existing Other Trade Names

The state has been removed from one or more existing Other Trade Names

The ‘forced flag’ has been changed for the state on one or more existing Other Trade Names

The name itself has been updated for one or more existing Other Trade Names currently associated to the state

Primary Company Contact

Information

Company (MU1)

A filing was submitted with an addition, removal, or update to the Primary Company Contact information.

Primary Consumer Complaint

Contact Information

Company (MU1)

A filing was submitted with an addition, removal, or update to the Primary Consumer Complaint Contact information.

Qualifying Individual Associa-

tion Removal

N/A The designated qualifying individual listed on the Company (MU1) Form removed

Company Access

Qualifying Individuals Company (MU1)


The state has been added to one or more new or existing Qualifying Individuals

The state has been removed from one or more existing Qualifying Individuals

Information has been updated for one or more existing Qualifying Individuals which is currently associated to the state





Resident/Registered Agent Company (MU1)

A filing was submitted with an addition, removal, or update to the Resident/Registered Agent for the state.

Residential History Individual (MU2 /

MU4)

A filing was submitted with an addition, removal, or update to an individual’s Residential Address.

Sponsorship Removal N/A The last license sponsorship for an individual’s license has been removed for a license belonging to the regulator.

Sponsorship Request N/A A license sponsorship request was submitted by a company for an individual’s license belonging to the regulator.

Surrender Requested Company (MU1)

Branch (MU3)

Individual (MU4)

A filing was submitted requesting surrender/cancellation of a license.

Test Results Individual (MU4)

A filing was submitted requesting a license.

Transition Cancelled Company (MU1)

Branch (MU3)

Individual (MU4)

A filing was submitted requesting the cancellation of a transition request.

Transition Requested

Company (MU1)

Branch (MU3)

Individual (MU4)

A filing was submitted requesting the transition of an existing license.

Web Addresses Company (MU1)

Branch (MU3)

A filing was submitted with an addition, removal, or update of Web Address

information.

Withdrawal Requested

Company (MU1)

Branch (MU3)

Individual (MU4)

A filing was submitted requesting the withdrawal of an application.




Appendix II Status Category Chart


Pending Denied – On Appeal Pending – Deficient Pending – Incomplete Pending – Review Pending – Withdrawal Requested Transition Requested

Approved Approved Approved – Conditional Approved – Deficient Approved – Failed to Renew Approved – Inactive Approved – On Appeal Approved – Surrender/Cancellation Requested Revoked – On Appeal Suspended Suspended – On Appeal Temporary Cease And Desist Terminated – Failed to Renew

Terminal Denied Revoked Terminated – Expired Terminated – Ordered to Surrender Terminated – Surrendered/Cancelled Transition Cancelled Transition Rejected Withdrawn – Application Abandoned Withdrawn – Voluntary Without Licensure

Documents

Regulator Work List - NMLS Resource Center€¦ · The Work List can be used by state agencies to manage and respond to NMLS activity performed by licensees, such as license requests,