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WBK Industry News - State Regulatory Developments

Hawaii Modifies Licensing Requirements

Hawaii Senate Bill 951 amends the Hawaii Revised Statutes, Section 454-1 by updating mortgage loan origination licensing law to clarify:

  • Persons who are subject to criminal history disclosures and criminal history background checks on applications for licensure and change in control of the licensee;
  • Procedures involving the change in control of a licensee;
  • Persons required to disclose their relevant criminal history and criminal history background checks upon application for licensure and change of control of the licensee;
  • Criminal background check fee requirements; and
  • Conditions under which an employee performing mortgage loan origination activities for a nonprofit is exempt from registration and licensure as a mortgage loan originator.

The new requirements are effective September 1, 2017.