Mortgages, Licensing Rules, Financial Services Industry

Preparing for Guernsey’s new equity release regime: What advisers need to know

Walkers on 7/23/2025

Effective January 2026, new rules will come into effect and establish an equity release regime in Guernsey. The Guernsey Financial Services Commission (GFSC) has published its Feedback Paper outlining amendments to the...more

Licensing Link June 2025 Special Edition

Mayer Brown on 7/3/2025

Licensing Link is a periodic publication that will keep you informed on hot topics and new developments in state licensing laws, and provide practice tips and primers on important issues related to state licensing across the...more

Maryland Expands Licensing Requirements for Mortgage Loan Assignees

Sheppard Mullin Richter & Hampton LLP on 1/27/2025

On January 10, 2025, the Maryland Office of Financial Regulation (OFR) issued guidance significantly expanding licensing requirements for assignees of residential mortgage loans in Maryland. The guidance stems from an April...more

Maryland Guidance Applies Licensing Requirements to Assignees of Residential Mortgage Loans

Mayer Brown on 1/22/2025

On January 10, 2025, the Maryland Office of Financial Regulation (OFR) issued formal guidance asserting that assignees of residential mortgage loans—including certain “passive trusts” that acquire or obtain assignments of...more

State Licensing Pitfalls Mortgage Servicers Must Beware

Hudson Cook, LLP on 7/24/2024

In many states, a company that services a residential mortgage loan by collecting payments from borrowers must hold a mortgage servicer license. What can come as a surprise, however, is that those licenses can also apply to...more

CSBS to Release Enhancements to Nationwide Multistate Licensing System & Registry (NMLS) on July 20.

Ballard Spahr LLP on 7/22/2024

The Conference of State Bank Supervisors (CSBS) will release the first phase of major enhancements to the Nationwide Multistate Licensing System & Registry (NMLS) on July 20....more

MSR Fund Investments: 7 Aspects to Consider

Mayer Brown on 10/19/2023

While residential mortgage lenders are facing tough headwinds driven by rising interest rates and low housing volume, the current market presents opportunities for savvy investors looking at mortgage servicing rights...more

Amendments to Ohio’s Administrative Rules Relating to Residential Mortgage Lending

Ballard Spahr LLP on 9/11/2023

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

Arkansas amends sponsorship licensing requirements under Fair Mortgage Lending Act

Orrick, Herrington & Sutcliffe LLP on 3/31/2023

On March 21, Arkansas enacted HB 1439 to clarify the sponsorship process and amend licensing requirements under the state’s Fair Mortgage Lending Act. The amendments modify the definition of a “transitional loan officer...more

North Dakota amends mortgage licensing requirements

Orrick, Herrington & Sutcliffe LLP on 3/28/2023

On March 13, the North Dakota governor signed SB 2090, which, among other things, revises licensing requirements for residential mortgage lenders. ...more

Montana amends mortgage servicing laws

Orrick, Herrington & Sutcliffe LLP on 2/24/2023

On February 16, the Montana governor signed HB 30, which amends certain provisions of the state’s mortgage laws. Among other things, the act outlines provisions related to financial condition requirements, model state...more

Virginia Considering Legislation to Permit Remote Work for Employees of Licensed Mortgage Lenders and Brokers

Troutman Pepper Locke on 2/3/2023

Following a trend started during the COVID pandemic, Virginia State Delegate Bill Wiley (R) introduced a bill, HB 2389 in the current legislative session of the Virginia General Assembly that would allow employees of a...more

Georgia and Rhode Island Amend Consumer Finance Laws to Add Licensing Exemption, Remote Work Authorization

Sheppard Mullin Richter & Hampton LLP on 8/29/2022

State legislatures in Georgia and Rhode Island recently amended their lending and licensing laws. The following are the noteworthy updates: Georgia - - HB 891 creates an exception from licensure under the Georgia...more

The Twelve Days of Renewals

Bradley Arant Boult Cummings LLP on 12/8/2021

On the first day of renewals the NMLS brought to me, system issues and lock outs. Yes, the 2021 Renewal season brought no holiday joy to either regulator or industry users. The first twelve days did present challenges with...more

Will You Need a License to Hold MSRs in Maryland?

Miles & Stockbridge P.C. on 4/1/2021

The question of whether a state mortgage finance licensing obligation arises to acquire and hold mortgage loans or mortgage loan servicing rights has often generated confusion and raised questions among mortgage finance...more