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.
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.
New Jersey extends no-action position regarding temporary work from home
The Department of Banking and Insurance issued a bulletin to certain licensees regarding temporarily working from home due to Covid-19.
New Mexico regulator extends permission to work from home
The New Mexico Financial Institutions Division extended its guidance allowing mortgage licensees and their staff to work from home until August 31, 2020.
Arizona regulator implements adjusted renewal process
The Department of Financial Institutions announced the new process that will enable licensees to renew licenses of the parent licensee and its branches at the same time.
Connecticut extends work from home guidance
The Department of Banking extended its no-action position with respect to licensees temporarily working from home during Covid-19 through June 30, 2020.
Nevada extends work from home guidance
The Department of Business of Industry, Division of Mortgage Lending extended its provisional guidance for MLOs to work from home through August 31, 2020.
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.