News & Analysis as of

Mortgage Loan Originators Criminal Background Checks

Mortgage Loan Originators are individuals who are paid to assist borrowers with residential mortgage transactions by taking applications and offering or negotiating terms.
Ballard Spahr LLP

Texas Adopts New Provisions Regarding Denial, Suspension, or Revocation Based on Criminal History for Residential Mortgage Loan...

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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

Partridge Snow & Hahn LLP

New Rhode Island Banking Regulations to Promote Uniformity

Rhode Island has repealed certain banking regulations and replaced them with new regulations in order to promote uniformity. Banking Regulations 98-14 “Licensees”, 98-14.1 “Lenders and Loan Brokers”, and 98-14.4 “Check...more

Ballard Spahr LLP

South Carolina Announces Increased Criminal Background Check Fees

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The South Carolina Board of Financial Institutions has increased the fees required for a criminal background check for mortgage loan officers (MLOs) and control persons. Note that the South Carolina criminal background check...more

Ballard Spahr LLP

Virginia Enacts Transitional MLO Licensing Law for Out-of-State MLOs

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Last month, Virginia Governor Terry McAuliffe signed Senate Bill 118, creating a transitional mortgage loan originator (MLO) license. Specifically, the law authorizes Virginia's State Corporate Commission to issue a...more

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