On February 1, 2018, the Wisconsin Department of Financial Institutions started using the NMLS Uniform Authorized Agent Reporting (UAAR) functionality to fulfill agent reporting requirements....more
The Texas Finance Commission of Texas adopted a new provision requiring the following individuals to retake the 20 hours of pre-licensing education as required by the S.A.F.E. Mortgage Licensing Act:...more
Pennsylvania is adding a requirement that a Mortgage Servicer License is required to engage in the mortgage loan business as a mortgage servicer. As such, the definition of “mortgage loan business” has been amended to include...more
1/12/2018
/ Banking Sector ,
Consumer Financial Products ,
Consumer Lenders ,
Financial Services Industry ,
Licensing Rules ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
NMLS ,
Regulatory Oversight ,
Regulatory Standards
The Reinstatement Period on NMLS started on January 1 and ends on February 28. ...more
Starting on November 1, 2017, the Oregon Division of Financial Regulation will accept applications for the Mortgage Servicer License and the Debt Buyer License on NMLS. The checklists for these licenses will be available here...more
The Illinois Department of Financial and Professional Regulation adopted rules to repeal and amend parts of the Residential Mortgage License Act, including, but not limited to...more
10/17/2017
/ Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Services Industry ,
Licensing Rules ,
Mortgage Servicers ,
Mortgages ,
NMLS ,
Regulatory Oversight ,
RESPA ,
TILA-RESPA Integrated Disclosure Rule (TRID)
Recently, several changes were made to the California Finance Lenders Law with various effective dates. Effective immediately, the California Finance Lenders Law has been renamed the "California Financing Law."...more
As we reported last month, the District of Columbia Department of Insurance, Securities and Banking (DISB) started accepting applications and transition filings for the Student Loan Servicer License on the Nationwide Mortgage...more
On October 1, 2017, the Iowa Division of Banking will require the following licensees to submit a license transition request via NMLS...more
On October 1, 2017, the Minnesota Department of Commerce will start accepting new applications and transition fillings on NMLS for the following licenses...more
On September 1, 2017, the Louisiana Office of Financial Institutions will start accepting new applications and transition fillings on NMLS...more
On August 10, 2017, the District of Columbia Department of Insurance, Securities and Banking started accepting applications and transition fillings for the Student Loan Servicer License and Student Loan Servicer Branch...more
Colorado Revises MLO Exemption -
Colorado has revised an exemption from mortgage loan originator licensure. More specifically, an individual who acts as a mortgage loan originator, without compensation or gain to the...more