Texas extends annual report deadline for regulated lenders
The Office of Consumer Credit Commissioner revised an advisory bulletin extending the deadline from May 1, 2020 to June 1, 2020
New Jersey extends filing deadlines for certain annual reports
The Department of Banking Insurance issued a bulletin regarding the extension of deadlines for certain entities and individual regulated by the Division of Banking.
APPROVED Checkpoint: It’s time to spring clean NMLS records
Spring is a great time to review and update NMLS records. Here are some tips to help you clean up those sections of the NMLS company, branch, and individual forms that tend to get overlooked and disorganized.
Texas amends residential MLO application procedures
The amendments are intended to reduce costs for residential MLOs and to ensure consistency with current licensing procedures and processes.
Washington state extends remote work guidance for MLOs
The Department of Financial Institutions’ guidance extends earlier interim guidance permitting mortgage loan originators to work from home.
Michigan regulator issues guidance for financial services sector to comply with stay at home orders
The bulletin from the Director of Michigan’s Department of Insurance and Financial Services reiterates that work should be done remotely to the fullest extent possible in compliance with the governor’s stay at home orders.
Florida regulator reminds money transmitters of license renewal extensions
The Office of Financial Regulation reminded Money Transmitter Part II licensees that the deadline to renew licenses has been extended to June 1, 2020.
Upcoming deadline: New York Volume of Operations Report
The 2020 deadline for New York mortgage banker licensees and mortgage broker registrants to file a VOOR with the NYDFS has been extended due to the Covid-19 pandemic.
Louisiana issues emergency declarations to non-depository entities
The Louisiana Office of Financial Institutions’ guidance affects those licensed pursuant to the Louisiana Consumer Credit Law and the Louisiana Deferred Presentment and Small Loan Act, among others.
Illinois extends financial statement submission deadline for certain MSBs
The Department of Financial and Professional Regulation issued guidance to persons or entities licensed pursuant to the Transmitter of Money Act regarding the submission of financial documents.
Virginia outlines student loan servicer requirements
The Virginia legislature enacted SB 77, which requires entities servicing student loans in the Commonwealth to be licensed by the State Corporation Commission.
Rhode Island regulator extends guidance for lenders
The Department of Business Regulation, Banking Division, amended previous guidance issued to mortgage loan originators, lenders, loan brokers and exempt company registrants.
D.C. Department of Insurance, Securities and Banking issues FAQs
The FAQs regarding the effect of Covid-19 address filings, the processing of licensing or registration applications, and remote work for securities professionals, among others.
Oregon issues guidance for debt buyers and collectors
The guidance to state-regulated debt buyers and collection agencies included reasonable measures they could take to prevent garnishment of CARES Act stimulus checks.
West Virginia extends remote working for depository and non-depository entities
The Department of Financial Services Commissioner extended guidance enabling employees of regulated entities to work remotely through June 15.
South Carolina issues guidance to mortgage brokers
The interim guidance addressed working remotely from unlicensed locations and extended the deadline for submitting the 2019 mortgage log.
New Jersey extends license application deadlines
The Department of Banking and Insurance extended the deadline for license and registration applications under New Jersey’s Mortgage Servicers Licensing Act to June 12, 2020.
Texas agencies issue emergency guidance for home equity lenders
The Department of Banking, Department of Savings and Mortgage Lending, Office of Consumer Credit and Credit Union Department issued revised home equity lending guidance related to making new loans or adjusting existing loans to facilitate recovery efforts.
D.C. issues bulletin regarding filing submissions
The Department of Insurance, Securities and Banking issued new procedures requiring electronic submissions and payments in light of the Covid-19 public health emergency.