The California Department of Real Estate (DRE) recently reminded real estate licensees with a mortgage loan origination (MLO) endorsement of their fiduciary duty to borrowers. ...more
Recently, the Washington Department of Financial Institutions adopted regulations implementing amendments to the Consumer Loan Act and the Mortgage Broker Practices Act. ...more
• New Jersey Gov. Phil Murphy signed Assembly Bill A-4997 into law on April 29, 2019, dramatically expanding the state's regulation of residential mortgage servicers. • The law requires nonbank finance companies that...more
The Michigan Department of Insurance and Financial Services published its annual licensing fees under the Mortgage Loan Originator Licensing Act as follows...more
Texas has adopted provisions that specify the criminal history information collected by the Office of Consumer Credit Commissioner (OCCC) and outline factors the OCCC will consider when reviewing criminal history information....more
The NMLS is launching its “Your License is Your Business” renewal campaign to encourage non-depository entities and mortgage loan originators (MLOs) licensed through the NMLS to submit their annual renewal requests early....more
New York, Ohio, Oklahoma, and Connecticut are the latest states to announce that they will be adopting the National SAFE Mortgage Loan Originator (MLO) Test with Uniform State Content. The New York Department of Financial...more
New Mexico is the latest state to announce that it will be adopting the new National SAFE Mortgage Loan Originator (MLO) Test with a Uniform State Test (UST). The New Mexico Financial Institutions Division will adopt the test...more
In 2013, three New England states will no longer require the state-specific test component for licensing mortgage loan originators (MLOs) due to the implementation of the new National SAFE MLO Test with a uniform state...more