Kansas Adds Credit Services Organization License to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
New York reverse mortgage licenses added to NMLS
The Reverse Mortgage Lending Dual Authority License and the Reverse Mortgage (HECM) Lending License appear to be the first licenses related exclusively to reverse mortgage lending activities on NMLS.
Hawaii extends guidance permitting reduced hours, temporary office closures
The Division of Financial Institutions extended its earlier guidance for licensees with locations in Hawaii to July 31, 2020.
Oklahoma amends working from home guidance
The Department of Consumer Credit issued a third extension to its interim guidance to regulated entities, extending the guidance through Sept. 30, 2020.
NYDFS launches virtual currency initiatives
NYDFS issued a a Memorandum of Understanding with the State University of New York to launch a virtual currency program and resources intended to help virtual currency market participants.
OCC issues interpretive letter addressing money transmitter licensing
According to the OCC, state laws that are intended to impose licensing requirements on a national bank’s exercise of fiduciary powers are preempted and satisfaction of an exemption from those requirements is not required.
Florida issues emergency order regarding certain filing deadlines
The Office of Financial Regulation issued Emergency Order 2020-04, which extends filing deadlines for certain mortgage and MSB licenses.
Washington State extends remote work guidance for MLOs
The Department of Financial Institutions issued interim regulatory guidance permitting mortgage loan originators to work from home until December 31, 2020.
Washington State amends guidance for mortgage loan servicers
The Department of Financial Institutions issued amended guidance for state-regulated and exempt residential mortgage loan servicers.
Temporary Authority and other updates made to NMLS Policy Guidebook
In April 2020, a number of changes were made to the Guidebook, including the addition of a section on “Non-Disclosable Events and Regulatory Actions.”
Work-from-home no action position extended by Connecticut
The Banking Commissioner in Connecticut issued a memorandum extending its “no action” position regarding temporary work-from-home guidance.
Kansas extends remote work guidance for certain licensees
The Office of the State Bank Commissioner extended its remote work guidance for mortgage companies, mortgage loan originators, supervised loan licensees, credit services organizations, money transmitters, and credit notification registrants.
Caution: Fraudulent communications regarding secretary of state filings
State-licensed companies should be on the lookout for fraudulent communications suggesting that a filing or payment is required from them in order to remain in good standing with various secretaries of state.
Louisiana updates non-depository emergency declarations
The Office of Financial Institutions updated its non-depository 2020 Covid-19 emergency declarations to extend earlier guidance regarding closure of licensed locations and temporary location changes.
New York Adds Reverse Mortgage Lending Authorities to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center under “Agency News.”
South Dakota extends work from home guidance
The South Dakota Division of Banking extended the time period in which licensed mortgage loan originators can work from home until December 31, 2020.
Oklahoma issues extension to interim remote work guidance
The Department of Consumer Credit extended previous guidance permitting MLOs and employees of regulated entities to work from home or an alternate site.