Hawaii revised the following mortgage loan origination provisions of the Secure and Fair Enforcement for Mortgage Licensing Act, including, but not limited to:

• A new definition for "executive officer" has been added. The term means a president, chairperson of an executive committee, senior officer responsible for a subject entity or organization's business, chief financial officer, or any other person who performs similar functions related to the subject entity or organization.
• "Qualified individual" now includes an individual who is responsible for the oversight of mortgage loan originators that are employed by or contracted to perform work for an exempt sponsoring mortgage loan originator company.
• The responsibilities of qualified individuals have been extended to apply to qualified individuals for both mortgage loan companies and exempt sponsoring mortgage loan companies. For example, a qualified individual for a mortgage loan originator company or exempt sponsoring mortgage loan originator company supervise the maintenance of all records, contracts, and documents of the mortgage loan originator company or exempt sponsoring mortgage loan originator company.

These provisions are effective starting September 1, 2017.