CSBS Seeks Comment on Mortgage Business-Specific Requirements Proposal

The Conference of State Bank Supervisors (CSBS), which operates the NMLS, is requesting comments on its newly-developed Mortgage Business-Specific Requirements Proposal.  The proposal is intended “to support the goals of Networked Supervision by creating a national standard intended to allow the state system to operate as a whole.”  More specifically, the CSBS is particularly interested in comments related to: (i) which business activities should be included in the Mortgage Business-Specific requirements; (ii) which contacts should be required; (iii) suggested modifications to periodic reporting and the definitions of various reporting triggers; (iv) which documents should be required, including proposals to permit unaudited financials for some companies; (v) which locations should be reported; and (vi) key individual background check requirements with respect to key individuals who have recently resided outside of the United States.

Comments should be received by May 15, 2023.