Indiana Consolidates Mortgage Lending Licenses
Indiana Department of Financial Institutions has merged the First Lien Mortgage Lending License and the Subordinate Lien Mortgage Lending License into a unified Indiana DFI... Read More
State Regulatory Developments
Maryland Adopts Regulation Expanding the use of NMLSR Unique Identifiers
The Maryland Commissioner of Financial Regulation adopted new regulations, effective July 3, 2017, allowing licensed mortgage lenders and mortgage loan originators (MLO) to include their... Read More
U.S. Supreme Court Limits Forum Shopping
On June 19, 2017, the U.S. Supreme Court held that California state courts did not have specific jurisdiction to hear the claims brought by plaintiffs... Read More
Connecticut Requires Licensure of Lead Generators
On June 9, 2017, the Governor of Connecticut signed into law amendments to its residential mortgage loan licensing provisions requiring licensure of lead generators. The... Read More
Nevada to Regulate Mortgage Bankers and Brokers under Same Statute
Nevada has recently enacted two sets of amendments to the statutes governing regulation and licensure of mortgage brokers and mortgage bankers, to regulate both types... Read More
Texas Passes Bill Updating Pre-Licensing Education Requirements for Mortgage Loan Originators
Texas recently passed House Bill 3342, which amends the Texas Secure and Fair Enforcement for Mortgage Licensing Act of 2009 and changes the amount of... Read More
Oregon Amends Reverse Mortgage Disclosure and Notification Requirements
The Oregon legislature recently enacted a bill amending Oregon law to require non-bank reverse mortgage lenders to include in advertisements, solicitations or communications intended as... Read More
Both South Carolina Regulators to Implement Changes to their Mortgage Lender/Broker Laws Effective September 16, 2017
South Carolina’s Department of Consumer Affairs (DCA) and Board of Financial Institutions (BFI) announced changes made during the 2017 legislative session designed to reduce regulatory... Read More
Tennessee Passes Law Updating Licensing Statutes for Various Non-depository Financial Institutions
Tennessee recently passed a bill, with effective dates ranging from July 1, 2017 to April 1, 2019, updating licensing procedures and requirements for industrial loan... Read More
Colorado Reenacts the Colorado Fair Debt Collection Practices Act
On June 1, 2017, Colorado reenacted the Colorado Fair Debt Collection Practices Act (“CFDCPA”), and amended the definition of “collection agency” to include “debt buyers.”... Read More
South Carolina Amends Mortgage Lending Licensing Provisions
On May 19, 2017, the South Carolina Governor signed into law Senate Bill 366 (“SB 366”), which makes amendments to the South Carolina Mortgage Lending... Read More
Utah Amends Mortgage Law Provisions
Utah recently amended the Utah Residential Mortgage Practices and Licensing Act (URMPLA), the Utah Appraisal Management Company Registration and Regulation Act (UAMCRRA), and the Utah... Read More
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