During this pandemic, both Idaho and South Dakota have been busy adding new mortgage licensing requirements. As discussed below, these new licensing requirements will materially impact mortgage lenders and servicers doing...more
As we continue to follow the trend of regulatory agencies providing guidance allow working from home for financial services professionals while the COVID-19 outbreak progresses, we summarized the additional guidance issued in...more
It has been almost 18 months since the passage of the Economic Growth, Regulatory Relief, and Consumer Protection Act or (as most people in the industry refer to it) the “Temporary Authority Act.” Section 106 of the act...more
The Arkansas State Legislature modified the Fair Mortgage Lending Act in February to “comply with recent developments in Federal Law and other purposes.” Federal law was recently amended to allow for Temporary Mortgage Loan...more
The Ohio Division of Financial Institutions (DFI) recently provided the much-needed updates to the recent legislation that expanded the registration requirements under the Ohio Residential Mortgage Lending Act (RMLA). The...more
As rumors circulate about the potential diminishing role of the Consumer Financial Protection Bureau (CFPB) within the new administration, one might wonder if the consumer financial lending space will become a lawless void....more
If a company is keeping its Nationwide Multistate Licensing System (NMLS) record current, the renewal season should be a relatively painless exercise in fee collection. However, in addition to the normal renewal housekeeping...more