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Financial Services Industry Exemptions State and Local Government

Mayer Brown

Connecticut Repeals Mortgage Servicer Licensing Exemption for Licensed Mortgage Lenders

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A new approval requirement is coming for companies licensed as Mortgage Lenders in Connecticut and engaging in mortgage servicing activities. Effective October 1, 2025, Connecticut Mortgage Lender licensees will have to hold...more

Miles & Stockbridge P.C.

Collection Agency Licensing and Exemptions

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With the new collection agency rule of the Consumer Financial Protection Bureau (“CFPB”) having taken effect on November 30, 2021, we thought we could help round out your understanding of the collection agency laws by...more

Ballard Spahr LLP

Alaska Exempts Nonprofit Organizations From Mortgage Lender Licensing Requirements

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The Alaska Department of Commerce, Community, and Economic Development recently adopted amendments to its mortgage lending regulations to exempt bona fide nonprofit organizations from the licensing requirement....more

Ballard Spahr LLP

Alaska Expands Mortgage Licensing Exemptions

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As a result of a new Alaska law, HB 104, the following are exempted from mortgage loan originator requirements in the state: Employees of federal, state, or local government agencies...more

Ballard Spahr LLP

Minnesota Revises Licensing Requirements Effective August 1, 2019

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Minnesota has revised its Residential Mortgage Originator and Servicer Licensing Act to provide an exemption from residential mortgage originator licensure requirements for a "manufactured home dealer" and "manufactured home...more

Ballard Spahr LLP

Vermont exempts bank partners from loan solicitation license for commercial loans

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We have been following closely efforts by state regulators, state legislatures and the courts to restrict, or in some cases prohibit, bank model lending programs, so the recent guidance from the Vermont Department of...more

Ballard Spahr LLP

Washington Amends Mortgage Servicing Regulations

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The Washington Department of Financial Institutions (DFI) amended its regulations under the Consumer Loan Act, effective September 1, 2018. Changes are made to a variety of provisions, including licensing coverage and various...more

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