Eligibility for Company Enrollment in SES

This policy governs the companies that are eligible to participate in supervisory activities in State Examination System (SES).

Approved 10/14/20

Updated 09/01/23

This policy governs the prerequisites that a company must meet before it can participate as a new user in the NMLS (Nationwide Multistate Licensing System) supervisory tool - the State Examination System (“SES”). A Supervisory activity comprises the examination, investigation of a company, along with the processing of consumer complaints about a company in the system.

There are two prerequisites for a company to participate as a user in SES:
  1. The company must offer a financial product or service; and
  2. The company must have an account in NMLS.

These requirements are described in more detail below.

1) The Company Must Offer a Financial Product or Service

The company must be responsible for delivering products and services either directly to consumers or related to a consumer’s use of those products and services. In addition, these products and services must be supervised or regulated by state financial regulators. This includes, but it is not limited to, all NMLS Business Activities, found here, and the following business types in SES:

  • Auction
  • Credit Union
  • Commercial Finance
  • Consumer Finance
  • Debt
  • Money Service Business
  • Mortgage Origination
  • Mortgage Servicing
  • Technology Service Provider
  • Trust

2) The Company Must Have an Account in NMLS

A company requested to be supervised in SES by a state agency must first ensure it has an account in NMLS.

The company does not need to apply for a license or proceed with licensure in NMLS. Simply creating an account in NMLS is sufficient for the company to enroll in SES. The process by a company to enroll in SES is a one-time exercise. SES company users will then be eligible for supervision in the system by any agency using the system.

SES company users must have their account information maintained in NMLS regardless of whether they hold a license in NMLS. This is a requirement to keep the data uniformity regularly transferred from NMLS to SES. A SES company that has undergone a legal name change, must call the SES call center support line to have its information updated in NMLS. The support line may be reached at 1-800-269-6189.

The company must provide the call center with a written request on company letterhead that includes the full name of the applicant as it appears on its NMLS account, evidence of the legal name change filed with the Secretary of State or its equivalent in the state of domicile of the company, the IRS (Internal Revenue Services) Form 147C evidencing the name change, the IRS Employer Identification Number, the State/Province & Country of formation, and date of formation.