News & Analysis as of

State and Local Government Mortgage Loan Originators

Ballard Spahr LLP

Amendments to Ohio’s Administrative Rules Relating to Residential Mortgage Lending

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The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules,...more

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States Issue Work-From-Home Guidance for Mortgage Lenders (UPDATED)

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In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more

McGlinchey Stafford

Industry News: Recent Developments Affecting Manufactured Housing

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Several industry updates that affect manufactured housing either take effect October 1, 2020, or will be unveiled sometime later this month. Detailed below is a summary of recent developments....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

Washington State and Connecticut Take No-Action Positions Regarding Licensees Working From Home Due to Coronavirus

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State regulators in Washington and Connecticut the financial services industries are beginning to issue guidance to address questions about licensees working at home due to the coronavirus (COVID-19) outbreak....more

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New Jersey Mortgage Servicer License Applies to Holders of Mortgage Servicing Rights

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The New Jersey Department of Banking and Insurance recently issued a bulletin to provide guidance relating to the licensing and registration of mortgage servicers under the New Jersey Mortgage Servicers Licensing Act. The...more

Ballard Spahr LLP

Georgia and Colorado Address MLO Temporary Authority to Operate

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Following receipt and consideration of three written comments on proposed rules distributed on November 18, 2019, the Georgia Department of Banking and Finance adopted final rules on December 20, 2019, that establish...more

Ballard Spahr LLP

Michigan Adopts Temporary Authority Provisions

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Michigan has joined a number of states that have amended its statutes to grant certain individuals temporary authority to act as a mortgage loan originator while a license application is pending, in conformity with the...more

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Wisconsin Adopts Temporary Authority Provisions

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Wisconsin is the latest state to pass legislation amending its statutes to add provisions addressing temporary authority to operate as a mortgage loan originator while a license application is pending pursuant to the federal...more

Ballard Spahr LLP

Washington State Adopts Temporary Authority Provisions

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Washington State has enacted legislation amending its regulations to permit temporary authority to operate as a mortgage loan originator...more

Cozen O'Connor

New York AG Takes Up Whistleblower’s Allegation That All May Not Be Picture-Perfect With B&H Foto & Electronics

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False Claims Act- New York AG Takes Up Whistleblower’s Allegation that All May Not Be Picture-Perfect with B&H Foto & Electronics- New York AG Letitia James sued photo and video equipment retailer B&H Foto & Electronics...more

Ballard Spahr LLP

Alaska Expands Mortgage Licensing Exemptions

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As a result of a new Alaska law, HB 104, the following are exempted from mortgage loan originator requirements in the state: Employees of federal, state, or local government agencies...more

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Temporary Authority Update

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Both Virginia and Utah have enacted legislation to permit temporary authority to operate as a mortgage loan originator in their respective states pursuant to the SAFE Act....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

Minnesota Adopts Uniform State Test

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Effective August 1, 2018, the Minnesota Department of Commerce will adopt the National State MLO Test with Uniform State Content. Mortgage loan originator license applicants will no longer be required to take and pass a...more

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Substitute House Bill No. 5490 Proposes Changes to Connecticut Banking Law

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Substitute House Bill No. 5490, an Act Concerning Consumer Credit Licenses, proposes to make changes to the Banking Law in Connecticut that would expand the banking commissioner's existing authority in the mortgage arena to...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

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