Licensees would be wise to double-check deadlines before they assume that they’re off the hook and head out for summer vacation.
Among other things, the legislation exempts certain supervised financial institutions from certain notice and fee requirements.
The California Department of Financial Protection and Innovation’s notice specifies that comments on the proposed modifications are due July 12.
Among other things, the new legislation creates a Student Loan Bill of Rights and outlines new provisions for student loan servicers.
The California Department of Financial Protection and Innovation released background check guidance applicable to the key individuals of California Financing Law licensees and license applicants.
The new rule addresses the revocation and suspension of mortgage licenses, the reinstatement of expired or suspended licenses, and applications for initial licenses near year end, among other things.
Among other things, the bill allows DFI to accept licensing applications through the NMLS for certain license types.
New legislation clarifies certain deadlines and provisions in consumer credit applications and licensing requirements for mortgage loan originators.
Wrap loans will be subject to regulation like other mortgage loan products in order to provide certain protections for buyers and sellers.
The new requirements are expected to streamline the licensing process as part of efforts by state regulators to expand uniformity in state regulation through a strategy called Networked Supervision.
The Department of Financial Protection and Innovation now expects all companies to apply for the CFL license electronically via NMLS.
New legislation amends various provisions related to insurance, banking, and securities, including those related to licensing applications and the annual renewal process.
The Arizona governor signed into law SB 1463, a bill that makes various changes to the Arizona Department of Insurance and Financial Institutions (DIFI).
There are now fewer than 10 states that require an in-state office in connection with a consumer or mortgage lender license.
The NFID stated that they will not further extend the work from home provisional guidance, and that licensees should plan accordingly.
Pending paper applications must be resubmitted via NMLS and companies currently holding the license must submit a transition request by October 31, 2021.
The law allows a mortgage originator, broker, or servicer’s employees to work from their residence, assuming the individual is adequately supervised by the employer.
The notice of proposed rulemaking outlines new requirements for debt collectors seeking to obtain a license to operate in the California.
On April 13, the Maryland governor signed SB 251, which amends provisions related to licensing requirements for nondepository institutions.
The Conference of State Bank Supervisors announced a request for public comments on proposed requirements for developing a new system to streamline the licensing application process.