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Licensing Rules Consumer Financial Products Enforcement Actions

Hudson Cook, LLP

Company Violates Mortgage Law by Holding Servicing Rights without License

Hudson Cook, LLP on

It is usually no surprise to companies operating in the financial services space that they may need a state license to make or service consumer loans. That is particularly true when the loans are highly regulated residential...more

Goodwin

Massachusetts Division of Banks Enters into Consent Order with Mortgage Lender

Goodwin on

On January 26, 2023, the Massachusetts Division of Banks (DOB) entered into a consent order​ with a California-based mortgage lender. According to the DOB, the company, which was licensed as a mortgage lender in...more

Miles & Stockbridge P.C.

Will You Need a License to Hold MSRs in Maryland?

The question of whether a state mortgage finance licensing obligation arises to acquire and hold mortgage loans or mortgage loan servicing rights has often generated confusion and raised questions among mortgage finance...more

Hudson Cook, LLP

What's Old is New Again: The Future of Bank Partnership Programs from Small Dollar Installment Loans to Mortgages to Everything

Hudson Cook, LLP on

Bank partnerships allow banks to offer loans to consumers and businesses by leveraging the resources of non-bank entities. The relationships between banks and their non-bank entity partners have existed for many years. In the...more

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