Whenever business owners would like to establish their own business venture, the first thing that they prioritize is their mortgage license because it certifies that their business is legal and is authorized to operate. Many businesses face closure because of one reason – NO LICENSE. Yes, a business license is important and thus you should always comply with it licensing requirements, because if you don’t, you may see your business’ closure.
Because of this, the State Regulatory Registry LLC is running a campaign which will let individuals who are in the non-depository financial services know that renewing their licenses is important and must be done before it expires to avoid any issue.
The Your Mortgage License is your Business campaign is a wake-up call and a way of SRR and NMLS to spread awareness to business owners that their license is their ticket to operate their business. Without any license, it only shows that the business is illegal, since it did not undergo certification by a licensing authority, such as NMLS.
The campaign is now in its 3rd year and it is being led by the State Regulatory Registry LLC, which also operates NMLS. This is the campaign which will help the business understand how important a license is for their business.
Why is “Your License is Your Business” campaign helpful?
Spreading awareness today is hard, but through campaigns, it is easy to share the ideas and actions are being taken. Your License is your Business campaign is helpful since this campaign will help in educating individuals and business owners with their licenses. Also, through the campaign, everyone in the business industry will have the chance to know how vital it is to submit renewal request before it expires since there are licensees who have been renewed before the year starts which will not cause any disturbance on the operation.
However, submitting a renewal request after the renewal deadline can be a hassle on your business.The campaign is one way of letting everyone know the importance of renewing the license before the expiration date.
Moreover, while the NMLS has a fairly complicated process to renew a license, failure to trying to timely renew until the last minute could have effect the operation of their business for the coming year. The campaign would like to convey that everyone should process their license renewal before the year ends so that no disruption will be done.
By just logging on the NMLS system the, renewal process will only take minutes unlike renewing a license after it expires, which is more inconvenient and time-consuming. Hence, with the campaign, all business owners and individuals will be able to understand how much attention should be given to licenses.
Your license will always be your gateway to a smooth business operation. If you don’t renew it before it expires, your business may likely be forced to stop its operation and may only operate again once the license is renewed.Don’t renew your license at last minute, always do it before the year ends!
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