NH Amends Renewal Requirements for New Licensees
Under a recently-enacted New Hampshire law, newly licensed mortgage bankers, brokers, servicers, and loan originators who initially become licensed between November 1 and December 31... Read More
State Regulatory Developments
Ohio Amends Mortgage Company Regulations
The Ohio Division of Financial Institutions recently amended the regulations affecting mortgage companies. The amendments became effective September 1, 2024. Among other changes, the amendments... Read More
Illinois Amends Law on Shared Appreciation Agreements
Illinois has amended its Residential Mortgage License Act, effective January 1, 2025, to define shared appreciation agreements as mortgage loans under the RMLA, require borrower... Read More
Idaho Amends Mortgage Advertising Regulations
The Idaho Department of Finance adopted revised rules pursuant to the Idaho Residential Mortgage Practices Act (IRMPA) that, among other things, amends the deceptive advertising... Read More
WA DFI Continues Some Consumer Loan Act License Fee Waivers
The State of Washington Department of Financial Institutions (DFI) recently notified Consumer Loan Act licensees that it would continue to temporarily waive certain fees in... Read More
Georgia Updates Mortgage-Related Regulations
The Georgia Department of Banking and Finance recently adopted amended regulations that, among other things, revise the language in the mortgage broker, mortgage lender, and... Read More
Tennessee Updates Do-Not-Call/Text Regulations
The Tennessee Public Utility Commission recently filed amended do-not-call regulations, effective October 7, 2024, which add language prohibiting unsolicited text messages, as required by a... Read More
Rhode Island Enacts Consumer Data Privacy Law
Rhode Island recently enacted a comprehensive consumer data privacy act, following many other states, which will go into effect January 1, 2026. Scope The Act... Read More
Ohio Repeals MLO Dual Capacity Prohibition
The Ohio Division of Financial Institutions recently issued a letter repealing its prohibition against mortgage professionals from acting as both a mortgage professional and a... Read More
Oklahoma Amends Oklahoma SAFE Act
Oklahoma recently enacted revisions to its SAFE Act (the OK SAFE Act) which take effect on November 1, 2024. Among other things, these revisions provide... Read More
Illinois Adopts CRA Regulations for Mortgage Lender Licensees and Other Financial Institutions
Illinois recently adopted regulations applicable to certain mortgage lender licensees to carry out the purposes of the Illinois Community Reinvestment Act (ILCRA). The regulations apply... Read More
MN Adds Information Security Program Requirement, Amends Mortgage Licensing Law
Minnesota recently made several statutory changes affecting financial institutions, including a requirement for financial institutions (excluding credit unions and federally-insured depository institutions) to have a... Read More
Industry News, including Federal Regulatory Developments, State Regulatory Developments and Litigation Developments, is for general information purposes only and is not in any way intended, nor shall it be construed, as legal advice, legal opinion or any other advice on any specific facts or circumstances. No person or entity (“Person”) should act or refrain from acting upon this information without seeking professional advice. No Person may rely on this information or its applicability to any specific circumstances. The information in Industry News, including Federal Regulatory Developments, State Regulatory Developments and Litigation Developments, is in no instance to be taken as an indication of completeness, applicability to a particular situation, or an indication of future developments or results.