H. R. 4626 helps develop the nationwide mortgage licensing system, nmls, so that regulators retain the ability to keep track of bad actors and provide responsible mortgage providers with greater efficiency and consistency in the licensing process. H. R. 4626 does not create any additional privilege or confidentiality rights, but the safe fact currently provides that information shared through the nationwide mortgage licensing system among mortgage industry regulators retains existing state and federal privilege and confidentiality protections. The bill makes it so that these privileges and confidentiality protections remain as long as the information is shared with another mortgage regulator. The bill addresses uncertainty of confidentiality by clarifying that confidential or privileged information shared through the nmls would continue to be protected under state and federal law. This bill will increase the cooperation, and i think this is the key piece, this bill will increase the co
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