To date, the licensing and disclosure obligations for lenders and brokers of commercial loans, (including commercial mortgage loans and non-real estate-secured commercial or business purpose loans) have not received the...more
Vermont enacted legislation pertaining to initial and renewal applications and setting licensing fees to supplement legislation enacted earlier this year. Effective July 1, 2019, the following application fees apply in...more
Among other things, Maryland has amended its mortgage lender law as follows: Tangible Net Worth required by activity - Mortgage broker: $25,000...more
• 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
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
The Montana Department of Administration has amended its regulations regarding mortgage broker and loan originator licensing, including, but not limited to, the following...more
Governor Mary Fallin signed SB-377 on May 12, amending provisions relating to the Oklahoma SAFE Act (the Act). The amendment clarifies the Act by adding references to “mortgage lenders” and “servicing” throughout the Act and...more
Among the state mortgage law changes made, the terms "mortgage lender," "mortgage broker," "mortgage servicer," and "mortgage loan originator" were amended to include entities that hold themselves out to the public as being...more
The Vermont Department of Financial Regulation has adopted regulations that update the rules for the licensing and regulation of mortgage brokers. The regulation sets forth standards on...more