Ethics & The NMLS – Part I

Prior to 2008, unscrupulous lending activities plagued the mortgage industry.  Mortgage originations were so rife with deception and dishonesty that, even twelve years later, the mortgage industry still sports the black eye slapped onto it by individuals who, at all costs, valued maximizing their earnings more than honoring their fiduciary responsibility to always act in their customers’ best interests.  The reasons are more than obvious, therefore, why the NMLS Exam heavily emphasizes ethical and compliant behavior.  NMLS Exam candidates must be knowledgeable of ethics-related principles, practices, terms, requirements, and conditions to not only ensure ethical compliance as future mortgage loan originators, but to maximize their chances of success on the NMLS National Mortgage Loan Originator Licensing Examination.