Seeking Advice on NMLS Licensing with Credit Challenges

Hallo…

I’m hoping to get some advice on getting NMLS licenses in more states, but I’ve hit some bumps because of my credit.
Here’s the situation:

  • I’ve got over 10 years in the mortgage industry.
  • Just passed the SAFE exam, so that’s not a problem.
  • I’m currently licensed in Tennessee (TN) and Pennsylvania ¶.
    The issue is, I had some health issues and unemployment, and my credit took a hit. There are some marks on my report I can’t fix until I close more loans. I’ve been trying to figure out which states are more lenient when it comes to credit, but info’s been hard to come by.
    So I’m wondering: 1. Are there any states that won’t give me a hard time over my credit?
  1. Anyone been through something similar and have advice?
  2. Any tips for dealing with state regulators?

Best wishes…

What’s the rough score on your credit report? State in which you plan to submit an NMLS licensing application: States may have different licensing requirements.

Get a complimentary copy of your credit report from TransUnion, Equifax, and Experian, the three main credit bureaus.

Write a written dispute to the credit agency if you discover any mistakes on your credit report. Give evidence to back up your statements.

Make sure you pay off all of your current debts consistently and on schedule. If you want to gradually raise :thinking: your credit score, this is essential.
In order to maintain organization, think about establishing automatic payments

Create a strategy if you can to pay off your debt. This could entail consolidating debt, raising your income, or making a budget. :wink:If you require help, think about debt counseling or credit restoration programs.

Investigate :unamused: other licensing choices or think about going into a profession in a related industry that might not require NMLS licensing if you are facing serious credit issues.

For individualized guidance and assistance, think about speaking with a financial advisor or credit counselor.