March 15 was the deadline established by California's Department of Financial Protection & Innovation for licensees under the California Financing Law to transition to the Nationwide Multistate Licensing System. I recently asked the DFPI about the transition and received this comment:
Through the Department's efforts and the efforts of its CFL licensees, a large number of transitions to NMLS have been submitted and or approved.
The NMLS standard is that account requests will be answered in 3 to 5 business days. As of 3/15 there were only two California accounts in the queue older than 5 business days (each at 6 days). The DFPI has not received any reports of system issues or problems logging into NMLS. Neither NMLS nor CFL staff have reported technical downtime in 2022 and the approval time for NMLS accounts are, in general, as disclosed. It would not be accurate to describe the current situation as a "backlog."
Any CFL licensee experiencing difficulties with their transition, other than the approval of their NMLS company or individual account, should contact CFL.Inquiries@dfpi.ca.gov.
I find it impossible to credit the statement that the "DFPI has not received any reports of system issues" as I had experienced technical issues with the NMLS and even sent the DFPI a screenshot of the error message that I had received. I had also reported that a licensee had encountered a different error message when trying to access the NMLS.
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