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Mortgages › Mortgage Loan Originators › Banking Sector

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Nutter McClennen & Fish LLP

Nutter Bank Report: June 2024

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The CFPB, as part of its initiative to accelerate the shift to open banking in the United States, issued a final rule on June 5 that outlines the qualifications to become a recognized industry standard setting body, which can...more

Holland & Knight LLP

New Jersey Expands Regulation of Mortgage Servicers

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• 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

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

Bradley Arant Boult Cummings LLP

And then there was ONE - Mortgage Compliance Magazine

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The West Virginia Division of Financial Institutions announced via a posting on the NMLS Resource Center that it will accept the National State MLO Test with Uniform State Content (UST) on June 1, 2018. This was the second...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

Ballard Spahr LLP

Texas Adds Residential MLO Pre-Licensing Education Expiration Period

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The Texas Finance Commission of Texas adopted a new provision requiring the following individuals to retake the 20 hours of pre-licensing education as required by the S.A.F.E. Mortgage Licensing Act:...more

Ballard Spahr LLP

Michigan Using Uniform Authorized Agent Reporting

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The Michigan Department of Insurance and Financial Services will start using the NMLS Uniform Authorized Agent Reporting functionality to fulfill agent reporting requirements. ...more

Ballard Spahr LLP

Michigan Publishes Annual Licensing Fees

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The Michigan Department of Insurance and Financial Services published its annual licensing fees under the Mortgage Loan Originator Licensing Act as follows...more

Ballard Spahr LLP

Nevada Converting to Electronic Surety Bonds on NMLS

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On December 1, 2017, the Nevada Division of Mortgage Lending will start using the new Electronic Surety Bond...more

Ballard Spahr LLP

House Financial Services Committee schedules Oct. 11 mark-up of “Madden fix” bill

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Among the more than 20 bills that the House Financial Services Committee is scheduled to mark-up this Wednesday, October 11, is a bill to provide a “Madden fix” as well as several others relevant to consumer financial...more

Ballard Spahr LLP

D.C. Adds Student Loan Servicer License to NMLS

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On August 10, 2017, the District of Columbia Department of Insurance, Securities and Banking started accepting applications and transition fillings for the Student Loan Servicer License and Student Loan Servicer Branch...more

Ballard Spahr LLP

New Hampshire Amends MLO Licensing Provisions

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New Hampshire has amended provisions regarding the licensing laws of mortgage loan originators (MLO) from other states. The commissioner may conditionally approve an application for an MLO license if the applicant is...more

Ballard Spahr LLP

Montana Revises Licensing Provisions

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The Montana Department of Administration has amended its regulations regarding mortgage broker and loan originator licensing, including, but not limited to, the following...more

Ballard Spahr LLP

Hawaii Revises Mortgage Loan Origination Licensing Requirements

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

Ballard Spahr LLP

Did You Know?

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NMLS Release 2017.2.1 - The NMLS Release 2017.2.1 has been targeted for July 24, 2017. ...more

Ballard Spahr LLP

Did You Know?

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Colorado Revises MLO Exemption - Colorado has revised an exemption from mortgage loan originator licensure. More specifically, an individual who acts as a mortgage loan originator, without compensation or gain to the...more

Ballard Spahr LLP

Did You Know? NMLS Release 2017.2

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NMLS Release 2017.2 will include the following updates, including, but not limited to, the following: - Addition of the “Returned to Surety by Regulator” functionality - Updates to the MSB Call Report -...more

Ballard Spahr LLP

Vermont Enacts Loan Solicitation License, Amends Other Financial Regulation Licensing Provisions

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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

Ballard Spahr LLP

CFPB Spring 2017 Supervisory Highlights focuses on mortgage origination/servicing, student loan servicing deficiencies, service...

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The CFPB’s newly-released Spring 2017 edition of Supervisory Highlights covers supervisory activities generally completed between September and December 2016. The report indicates that supervisory resolutions resulted in...more

Ballard Spahr LLP

California Amends RMLA: Federal Agency Approval Not Required For Processing and Underwriting Companies

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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

Ballard Spahr LLP

CFPB issues Fall 2016 Supervisory Highlights

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In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 9.26.16

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The Deal Professor weighs in on Yahoo’s announcement last week of the hack of roughly 500 million of its customers’ data and the specter of the MAC (material adverse change) that Verizon may choose to invoke to dance away...more

Ballard Spahr LLP

GAO issues report on CFPB SBREFA panels

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The Government Accountability Office has issued a report on the CFPB’s use of Small Business Regulatory Enforcement Fairness Act (SBREFA) panels in its rulemaking process. The report, “Observations from Small Business Review...more

Bradley Arant Boult Cummings LLP

CFPB Issues Proposed Amendments to TRID Rule

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Last week, the Consumer Financial Protection Bureau (CFPB) released its proposed amendments to the “Know Before You Owe” mortgage disclosure rule, commonly known as the Truth in Lending Act-Real Estate Settlement Procedures...more

Orrick - Finance 20/20

FHFA Request for Input on Single-Family Credit Risk Transfer – Certain Salient Matters

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In its request for input on single-family credit risk transfer RFI, FHFA expresses a strong preference for large, economically efficient, repeatable transactions, as well as programs that create a level playing field for both...more

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