News & Analysis as of

State and Local Government Mortgages Mortgage Loan Originators

Orrick, Herrington & Sutcliffe LLP

Rhode Island updates mortgage licensing provisions

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

Sheppard Mullin Richter & Hampton LLP

Texas Passes Law Expanding Mortgage Borrower Protections

Effective November 23, 2024, the Texas Department of Savings and Mortgage Lending (the “DSML”) adopted new rules affecting mortgage loan companies, mortgage bankers, individual residential mortgage loan originators, and...more

Ballard Spahr LLP

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

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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

Ballard Spahr LLP

New Jersey Mortgage Servicer License Applies to Holders of Mortgage Servicing Rights

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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

Ballard Spahr LLP

Georgia and Colorado Address MLO Temporary Authority to Operate

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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

Ballard Spahr LLP

Michigan Adopts Temporary Authority Provisions

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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

Ballard Spahr LLP

Wisconsin Adopts Temporary Authority Provisions

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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

Ballard Spahr LLP

Washington State Adopts Temporary Authority Provisions

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Washington State has enacted legislation amending its regulations to permit temporary authority to operate as a mortgage loan originator...more

Ballard Spahr LLP

Temporary Authority Update

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Both Virginia and Utah have enacted legislation to permit temporary authority to operate as a mortgage loan originator in their respective states pursuant to the SAFE Act....more

Holland & Knight LLP

New Jersey Improves and Clarifies Its Residential Mortgage Lending Act

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• The State of New Jersey, on Aug. 24, 2018, enacted Assembly Bill 2035 that makes significant and important amendments (Amendments) to the Residential Mortgage Lending Act (RMLA), which had not been amended since it was...more

Ballard Spahr LLP

Minnesota Adopts Uniform State Test

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Effective August 1, 2018, the Minnesota Department of Commerce will adopt the National State MLO Test with Uniform State Content. Mortgage loan originator license applicants will no longer be required to take and pass a...more

Ballard Spahr LLP

Substitute House Bill No. 5490 Proposes Changes to Connecticut Banking Law

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Substitute House Bill No. 5490, an Act Concerning Consumer Credit Licenses, proposes to make changes to the Banking Law in Connecticut that would expand the banking commissioner's existing authority in the mortgage arena to...more

Ballard Spahr LLP

West Virginia Adopts Uniform State Test

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Effective June 1, 2018, the West Virginia Division of Financial Institutions will adopt the National State MLO Test with Uniform State Content. Mortgage loan originator license applicants will no longer be required to take...more

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