Saturday , 19 August 2017

NMLS Makes Biometric Logins Mandatory

By Jann Swanson

Posted To: MND NewsWire

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…(read more)

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