On June 24, the governor of Rhode Island signed into law H 5811 to amend the Secure and Fair Enforcement for Mortgage Licensing Act of 2009. The amendment changes the law to prohibit an individual who is licensed as both a...more
On January 7, 2025, the Federal Housing Administration (FHA) officially revised its Defect Taxonomy (Final Defect Taxonomy) with the publication of Mortgagee Letter (ML) 2025-01 and the related attachment detailing those...more
The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules,...more
On July 9, 2020, Fannie Mae in updates to Lender Letters 2020-03 and 2020-04 and Freddie Mac in Bulletin 2020-27 announced the further extension of origination guidance based on COVID-19 (the Freddie Mac action extends the...more
On May 28, 2020, Fannie Mae in updates to Lender Letter 2020-03 and Lender Letter 2020-04 and Freddie Mac in Bulletin 2020-19 updated their temporary origination requirements based on COVID-19....more
The New Jersey Department of Banking and Insurance recently issued a bulletin to provide guidance relating to the licensing and registration of mortgage servicers under the New Jersey Mortgage Servicers Licensing Act. The...more
Following receipt and consideration of three written comments on proposed rules distributed on November 18, 2019, the Georgia Department of Banking and Finance adopted final rules on December 20, 2019, that establish...more
Michigan has joined a number of states that have amended its statutes to grant certain individuals temporary authority to act as a mortgage loan originator while a license application is pending, in conformity with the...more
Wisconsin is the latest state to pass legislation amending its statutes to add provisions addressing temporary authority to operate as a mortgage loan originator while a license application is pending pursuant to the federal...more
Washington State has enacted legislation amending its regulations to permit temporary authority to operate as a mortgage loan originator...more
As part of recently enacted legislation (HB 199) authorizing the Delaware State Bank Commissioner to participate in a multi-state automated licensing system to administer licenses for mortgage loan brokers, licensed lenders,...more
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
The CFPB recently issued revised versions of the small entity compliance guides for the Loan Originator Rule and the Home Ownership and Equity Protection Act (HOEPA) Rule....more
On September 26, 2018, the Mortgage Bankers Association (MBA) together with eleven other mortgage industry groups submitted a letter to CFPB Acting Director Mick Mulvaney “to urge the Bureau. . . to make changes to its Loan...more