On March 30, Maryland Governor Larry Hogan issued an executive order permitting remote notarization under certain circumstances and strongly encouraging this flexibility be used to conduct loan closings remotely.
Nebraska Department of Banking and Finance announced it will temporarily halt all regular examinations unless the examination is critical to safety and soundness, consumer protection, or is necessary to address an urgent or immediate need.
Instead of the original 60-day deadline extension, the NMLS Policy Committee encourages regulators to be lenient if reports are filed within 30 days of the placement of the license item (based on the standard due date).
The Indiana Secretary of State, Securities Division issued a Compliance Alert to all licensed loan brokers and collection agencies. The Division encouraged licensees to instruct their employees to work from home and refrain from any in-person meetings whenever possible.
On March 18, Louisiana’s Commissioner of Financial Institutions released emergency advisories for non-depository institutions, specifically repossession agents and bond for deed escrow agents, check cashers, pawnbrokers, licensed consumer lenders/brokers, and residential mortgage lenders.
In response to the Covid-19 pandemic, the NMLS Policy Committee on Mar. 25, 2020 extended the deadline for certain reporting obligations satisfied through NMLS, and the enrollment window for taking the SAFE MLO test.
The Secretary of State, Securities Division, issued guidance to loan broker and collection agencies in response to Covid-19, encouraging licensees to instruct their employees to work from home and refrain from any in-person meetings.
We have collected and summarized the preliminary guidance issued by the following states: Alaska, Alabama, Arkansas, Connecticut, Idaho, Kansas, Massachusetts, Maryland, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Texas, Utah, Vermont, Washington, and Wisconsin.
On March 10, the New York State Department of Financial Services issued several industry letters related to the novel coronavirus known as “Covid‑19.” Two of those letters require responses from New York regulated institutions no later than April 9, 2020.