We were joined by Winnow Solutions to discuss the current regulatory climate for examinations and how the right combination of strategy and technology can improve the process.
The agreement reflects DFPI’s decision to “treat these private financing products as student loans” for purposes of the California Student Loan Servicing Act (SLSA).
The Pilot Program for Increased Access to Responsible Small Dollar Loans is administered by DFPI and established under the California Financing Law.
Learn more about this topic and others in the NMLS Resource Center.
The panel discussion on Tuesday, Sept. 14 is part of the Mortgage Bankers Association’s Regulatory Compliance Conference 2021 in Washington, D.C.
Licensees on NMLS are no longer required to mail certain original application documents (e.g., lease agreement, office photos) to the Nevada Department of Business and Industry.
Among other things, the new legislation requires persons servicing student loans to obtain a license from the Oregon Department of Consumer and Business Services.
The Division of Banks published guidance that defines unfair or deceptive acts or practices for entities servicing loans or collecting debts within the commonwealth, and provides licensing, registration, and supervision procedures.
The new legislation affects certain mortgage licensing provisions in the state’s banking statutes, with changes going into effect Oct. 1.
Subject to certain exemptions, entities servicing federal student loans must obtain a license and comply with various state requirements and consumer protection mandates.
NMLS published an announcement reminding California debt collectors that all persons must apply for a license by Dec. 31, 2021.
Over the past year, California, Kentucky, New Hampshire, and Oklahoma joined a majority of states in requiring that new applicants for certain licenses submit electronic surety bonds via NMLS in lieu of paper bonds.
Learn more about this topic and others in the NMLS Resource Center.
A new opinion letter covers aspects of the California Money Transmission Act related to certain cryptocurrency activities.
Between July 1 and Sept. 30, companies that hold a combination license must transition back to the appropriate licenses in order to conduct business in the state.
The updates to the Student Loan Servicers Act cover private lenders, creditors, and collection agencies connected to postsecondary non-federal student loans.
The Colorado Nonbank Mortgage Servicers Act provides additional consumer protections through the regulation of mortgage servicers.
The guidance replaces any previous guidance issued by the Division of Banks of the Massachusetts Office of Consumer Affairs and Business Regulations regarding telework and will continue, unless modified or withdrawn.