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NMLS Makes Biometric Logins Mandatory

Friday, August 11, 2017

Citing increased fraud affecting its education and testing procedures, the Nationwide Multistate Licensing System (NMLS) is implementing a new biometric password system for use by its instruction providers.  NMLS, which handles state licensing of loan officers and mortgage brokers and lenders and provides information about licensees to consumers, says the fraud has primarily been limited to its online continuing education (CE) courses and usually involves the sharing of the course user ID and password for login access.

NMLS, in trying to find a solution to the problem, identified three alternatives; remote proctoring, knowledge-based authentication, and bio-metrics.  It issued a request for proposals in 2016, identified three vendors and conducted a pilot study with each.  The contract was ultimately awarded to BioSig-ID.

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Linden was very professional, knowledgeable, efficient, patient and personable. All of these qualities played an important part of processing and closing the loan. Linden was great through the whole process of working with me, to working with the real estate company, and other offices involved. I know the seller’s real estate agent was rude and hard to work with at times. It was unfortunate that Linden had to deal with it but he handled the situation professionally. Also, I was gone 95% of the time traveling for work while buying the home. Linden was great about working with me while I was away and helped keep things moving and organized. It was greatly appreciated.
Victoris S.