On July 8, 2019, the Department of Financial Institutions, Division of Consumer Services notified licensees that after review and analysis of its budget, it was implementing temporary fee waivers, as follows:
- Hourly fees on CLA exams are temporarily waived for the period of July 1, 2019, through June 30, 2020 (excluding travel expenses).
- Annual assessments on the following categories of loans are temporarily waived for 2019 calendar year activity:
- Residential mortgage loans in portfolio on 12/31/18;
- Residential mortgage loans brokered in 2019; and
- Residential mortgage loans purchased in 2019.
- Residential mortgage loans made during 2019 will continue to be assessed; the assessment is due in March 2020.
- MLO renewal fees for 2020 are reduced from $155 to $75 for the 2020 calendar year.
The notice may be accessed here.
