The Texas Finance Commission of Texas amended and simplified the definition of “physical office” to mean “an actual office where the business of mortgage lending and/or the business of taking or soliciting residential...more
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
Pennsylvania is adding a requirement that a Mortgage Servicer License is required to engage in the mortgage loan business as a mortgage servicer. As such, the definition of “mortgage loan business” has been amended to include...more
1/12/2018
/ Banking Sector ,
Consumer Financial Products ,
Consumer Lenders ,
Financial Services Industry ,
Licensing Rules ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
NMLS ,
Regulatory Oversight ,
Regulatory Standards
The Michigan Department of Insurance and Financial Services will start using the NMLS Uniform Authorized Agent Reporting functionality to fulfill agent reporting requirements. ...more
The Reinstatement Period on NMLS started on January 1 and ends on February 28. ...more
The Illinois Department of Financial and Professional Regulation adopted rules to repeal and amend parts of the Residential Mortgage License Act, including, but not limited to...more
10/17/2017
/ Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Services Industry ,
Licensing Rules ,
Mortgage Servicers ,
Mortgages ,
NMLS ,
Regulatory Oversight ,
RESPA ,
TILA-RESPA Integrated Disclosure Rule (TRID)
As we reported last month, the District of Columbia Department of Insurance, Securities and Banking (DISB) started accepting applications and transition filings for the Student Loan Servicer License on the Nationwide Mortgage...more
California and the District of Columbia have recently released regulations under their respective student loan servicing laws. Each is taking comments on its regulations, but whereas California has merely issued proposed...more
On October 1, 2017, the Iowa Division of Banking will require the following licensees to submit a license transition request via NMLS...more
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