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
FAQs re: the amendment of the SAFE Act (pursuant to The Economic Growth, Regulatory Relief, and Consumer Protection Act – S. 2155)....more
The 11th annual report on NMLS operations, performance and new development efforts has been released by the NMLS. ...more
Effective March 20, 2019, Ohio HB 489 amends the Ohio Residential Mortgage Lending Act (ORMLA) to require a registration for mortgage servicers....more
The North Carolina Office of the Commissioner of Banks recently updated its FAQs to specifically address the need for a Servicer license for entities that merely hold mortgage servicing rights. ...more
For those agencies that permit license reinstatement, the reinstatement period will run until midnight Eastern Time on February 28, 2019....more
An open meeting with the NMLS Ombudsman will be held Wednesday, February 20, 2019, from 9 a.m. to 12 p.m. ET, in conjunction with the 2019 NMLS Annual Conference & Training in Orlando, Florida. ...more
Registration for the 2019 NMLS Annual Conference & Training is now open. The Conference will be held February 18-21...more
A reminder that the NMLS license renewal period opened on November 1, and that there is an Annual Renewal Information section on the NMLS Resource Center website with detailed information regarding deadlines, requirements,...more
Effective immediately, Illinois Residential Mortgage licensees will no longer be required to include the phrase "Illinois Residential Mortgage Licensee" in advertisements...more
Significant changes to Connecticut’s licensing laws for consumer financial services providers will take effect on October 1, 2018. In addition to changes impacting mortgage-related licensees (e.g. mortgage lenders,...more
On July 30, 2018, an updated version of the NMLS Policy Guidebook was posted to the NMLS Resource Center. The announcement posted on the Resource Center home page states that "The updated NMLS Policy Guidebook does not...more
The NMLS Mortgage Industry Report for the first quarter of 2018 has been made available on the NMLS website (NMLS Reports). The report compiles data on mortgage companies, branches, and mortgage loan originators. ...more
In connection with the 2018 American Association of Residential Mortgage Regulators (AARMR) Annual Conference to be held in Boston, an open meeting with the NMLS Ombudsman will be held Tuesday, July 31, 2018, from 9:00 a.m....more
The North Carolina Commissioner of Banks Office has begun receiving new and converted Electronic Surety Bonds (ESB) through NMLS for its mortgage broker, mortgage lender, and mortgage servicer licenses....more
6/11/2018
/ Financial Services Industry ,
Licensing Rules ,
Money Transmitter ,
Mortgage Brokers ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
NMLS ,
Regulatory Oversight ,
Regulatory Requirements ,
Surety Bonds
The Indiana Department of Financial Institutions (Department) has issued its Questions & Answers (Q&A) related to upcoming changes in various statutes administered by the Department that become effective as of July 1, 2018. ...more
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
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
The NMLS Policy Guidebook has been updated effective February 1, 2018, replacing the version issued on July 23, 2012. The announcement accompanying publication of the Guidebook notes that the updates are intended to align the...more
The Conference of State Bank Supervisors has announced that the launch of NMLS 2.0 originally scheduled for September 2018 has been pushed to the second quarter of 2019. ...more
Entities engaged in the business of loan solicitation are now required to be licensed with the Vermont Department of Financial Regulation following the recent enactment of Act 22. Loan comparison websites, lead generators,...more
6/5/2017
/ Banking Sector ,
Financial Services Industry ,
Licensing Rules ,
Loan Guarantee Solicitation ,
Money Transmitter ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
New Legislation ,
Solicitation Provisions ,
Virtual Currency
The New York Senate has approved Bill 982, which amends state law to expressly allow for execution of a mortgage loan by electronic signature. In connection with this amendment, the term “consummation of a mortgage loan” also...more
We are pleased to invite you to the 22nd Annual Consumer Financial Services Institute, sponsored by the Practising Law Institute, March 27-28, 2017, in New York City (and by live webcast and groupcast in Atlanta and...more
1/27/2017
/ Banking Sector ,
Class Action ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Privacy ,
Data Security ,
Debt Collection ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
Financial Services Industry ,
Mortgages ,
Regulatory Oversight ,
TCPA
Effective January 1, 2017, the definition of lender under the California Residential Mortgage Lending Act (RMLA) will be amended to include third-party processors and/or underwriters who do not solicit loan applicants,...more
12/2/2016
/ Banking Sector ,
Fannie Mae ,
Federal Housing Administration (FHA) ,
Freddie Mac ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
Real Estate Market ,
Third-Party Service Provider ,
Underwriting ,
Veterans Administration
Fannie Mae and Freddie Mac have announced that they have published redesigned versions of their Uniform Residential Loan Application Form (URLA), the first substantial revision to the form in more than 20 years. The update to...more