Final answer:
NMLSR provides licensing for mortgage loan originators, handles license renewals, and manages the licenses.
Step-by-step explanation:
The purpose of NMLSR (Nationwide Mortgage Licensing System and Registry) is to provide licensing for mortgage loan originators, making sure they meet certain qualifications, such as completing pre-licensing education and passing exams. NMLSR also handles the renewal of mortgage loan originator licenses by ensuring that individuals continue to meet the necessary requirements. Additionally, NMLSR is responsible for the management of mortgage loan originator licenses, maintaining a database that allows regulatory agencies and the public to verify the status of licenses.