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Alston & Bird

Mortgage Industry Update: Washington DFI Holds First Mortgage Industry Webinar of 2024

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A&B Abstract: On January 24th, the Washington Department of Financial Institutions (the “DFI”) conducted its first Mortgage Industry Webinar of 2024 and provided updates in the areas of licensing, examination, and...more

McGlinchey Stafford

South Dakota Adds Mortgage Branch Registration Requirement

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This morning (Wednesday, July 1), the South Dakota Division of Banking posted a Mortgage Branch Registration requirement to the Nationwide Multistate Licensing System (NMLS). According to the NMLS Description of this...more

Ballard Spahr LLP

New York DFS Urges Suspension of Foreclosures and Deferral of Mortgage Payments

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On March 19, 2020, the New York Department of Financial Services (NYDFS) issued guidance to urge all regulated and exempt mortgage servicers to alleviate the adverse impact caused by COVID-19 on mortgage brokers who...more

American Conference Institute (ACI)

[Event] Residential Mortgage Regulatory Enforcement & Litigation - October 29th-30th, Dallas, TX

Attend the only forum designed to help you navigate the Residential Mortgage Industry’s evolving landscape. Now in its 26th installment, ACI’s Residential Mortgage forum has become a premier gathering of the key industry...more

Ballard Spahr LLP

Maryland Amends Mortgage Lender Law Effective October 1, 2019

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Among other things, Maryland has amended its mortgage lender law as follows: Tangible Net Worth required by activity - Mortgage broker: $25,000...more

Spilman Thomas & Battle, PLLC

Reverse Mortgages Becoming a Bigger Part of Litigation in West Virginia

Consumers in West Virginia have found a new subject on which to file lawsuits. Within the past couple of years, litigation over reverse mortgages has become a bigger part of consumer lending litigation in West Virginia....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

Ballard Spahr LLP

North Carolina to Accept Electronic Surety Bonds

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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

Manatt, Phelps & Phillips, LLP

Regulators Demand “Good Faith Efforts” for TRID Implementation

Why it matters - Federal regulators said they don’t expect perfection from banks trying to comply with the new mortgage disclosure requirements but will not turn a blind eye with regard to enforcement. In letters to...more

Baker Donelson

#Retweet the #CFPB: How Social Media is Affecting Consumer Advocacy

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Social media has become an integral part of our society, and now it's playing a big role in our industry, too. The Consumer Financial Protection Bureau (CFPB) is harnessing the power of Facebook and Twitter not only to create...more

Ballard Spahr LLP

CFPB and DOJ announce redlining settlement

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Consistent with recent indications from CFPB and Department of Justice officials that more redlining cases would soon be coming, the CFPB and DOJ have announced a proposed consent order with Hudson City Savings Bank to settle...more

Ballard Spahr LLP

Montana Temporarily Reduces Licensing Renewal Fees

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Montana has adopted a temporary rule to reduce certain licensing renewal fees by 50 percent for the period of January 1, 2016 through December 31, 2016. The Department of Administration believes that adopting the Uniform...more

Ballard Spahr LLP

Oklahoma Amends SAFE Act

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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

Ballard Spahr LLP

Montana Amends Mortgage Licensing Provisions

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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

Proskauer - Law and the Workplace

Connecticut Broadens Exemptions to Law Limiting Credit Checks

Connecticut has added mortgage brokers, lenders, and servicing companies to the list of “financial institutions” exempted under the state’s existing law limiting credit checks for purposes of employment. The amendment, which...more

Ballard Spahr LLP

Arkansas Amends Rules Regarding Fair Mortgage Lending Act

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The Arkansas Securities Department (Department) recently amended provisions to the Rules of the Fair Mortgage Lending Act (Rules) that became effective on February 9, 2014. The new Rules concern the licensing of loan officers...more

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