The amendments are intended to reduce costs for residential MLOs and to ensure consistency with current licensing procedures and processes.
The Department of Financial Institutions’ guidance extends earlier interim guidance permitting mortgage loan originators to work from home.
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.
The Office of Financial Regulation reminded Money Transmitter Part II licensees that the deadline to renew licenses has been extended to June 1, 2020.
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.
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.
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.
The Virginia legislature enacted SB 77, which requires entities servicing student loans in the Commonwealth to be licensed by the State Corporation Commission.
The Department of Business Regulation, Banking Division, amended previous guidance issued to mortgage loan originators, lenders, loan brokers and exempt company registrants.
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.
The guidance to state-regulated debt buyers and collection agencies included reasonable measures they could take to prevent garnishment of CARES Act stimulus checks.
The Department of Financial Services Commissioner extended guidance enabling employees of regulated entities to work remotely through June 15.
The interim guidance addressed working remotely from unlicensed locations and extended the deadline for submitting the 2019 mortgage log.
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.
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.
The Department of Insurance, Securities and Banking issued new procedures requiring electronic submissions and payments in light of the Covid-19 public health emergency.
The Oregon Division of Financial Regulation temporarily authorized certain licensees to work from home while transacting business when specific conditions are met.
The Department of Consumer Credit issued amended interim guidance to licensees, effective through May 31, 2020.