Texas issues Covid-19 guidance related to multiple licenses
On March 26, the Texas OCCC issued four bulletins directed at regulated lenders urging these entities to work with borrowers during the crisis.
South Carolina and Massachusetts extend reporting deadlines
The South Carolina guidance applies to Mortgage Log Filings while the Massachusetts extensions affect a number of reporting deadlines.
Kansas OSBC provides remote work guidance
Licensed mortgage companies, mortgage loan originators, supervised loan licensees, credit services organizations, money transmitters, and credit notification registrants will be allowed to operate from remote locations.
Indiana issues work at home guidance for licensees
The Indiana Secretary of State, Securities Division issued a Compliance Alert to all licensed loan brokers and collection agencies. The Division encouraged licensees to instruct their employees to work from home and refrain from any in-person meetings whenever possible.
Massachusetts DOB reminds licensees of requirement for pandemic planning
The Division further advised licensees that it does not require an MLO’s home to be licensed as a branch so long as they do not advertise it as an office or meet consumers there.
Louisiana advises non-depository institutions on temporary closures
On March 18, Louisiana’s Commissioner of Financial Institutions released emergency advisories for non-depository institutions, specifically repossession agents and bond for deed escrow agents, check cashers, pawnbrokers, licensed consumer lenders/brokers, and residential mortgage lenders.