Kentucky Amends Registration Requirements for Mortgage Loan Processors
On April 13, 2016, Kentucky adopted 2016 Senate Bill 97 (“the bill”), which amends provisions under the Mortgage Licensing and Regulation Act (“MLRA”) including, in... Read More
State Regulatory Developments
Kansas Amends Provisions Regarding Mortgage Business Act
Kansas has amended a number of provisions regarding its Mortgage Business Act (“MBA”), including requirements pertaining to licensing, exemptions, license display, solicitations, commissioner powers, bond... Read More
Virginia Revises Various License and Reporting Requirements
On March 14, 2016, Virginia approved various revisions to its mortgage lending license and reporting provisions. These amendments include the following: New provisions regarding inactive... Read More
Colorado Amends Provisions Regarding MLO Disclosure Law
Colorado has amended its mortgage loan originator (MLO) disclosure law to require MLOs to comply by providing multiple Federal disclosures. The amended provisions are found... Read More
Indiana Amends Provision Regarding MLO Prelicensing Education Requirements
The Indiana Department of Financial Institutions (Department) has adopted a regulation amending its prelicensing education requirements for mortgage loan originators (MLOs). The amendment is found... Read More
Illinois Amends Collection Agency Act
The State of Illinois recently amended its Collection Agency Act to define the terms ”collection agency” and “consumer debt,” and to require that a collection... 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.