Do Third Party Affiliates Require NMLS License for Loan Products?

Do Third Party Affiliates Require NMLS License for Loan Products?

Los Angeles, CA · Member since 2018 · 8 posts · 0 votes

I am curious about these websites like Nerdwallet or Smartasset. These personal finance websites do not directly mortgage products themselves.  They provide affiliate links and reviews; they also disclose their advertisement sponsorship.  So do these two companies require NMLS licenses to operate since they are not offering the loans themselves?  If they are required NMLS licenses, then do they have more strict guidelines to follow?

Thanks

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  • Lender · Newark NJ · Member since 2017 · 56 posts · 28 votes
    8y

    Hi Charles, 

    I believe the answer is no. as they don't originate mortgage products or advertise their own mortgage rates. 

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