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14 06, 2010

Colorado Mortgage Companies must now be Licensed

2017-01-23T19:53:11-08:00June 14th, 2010|Mortgage License, Mortgage Licensing News|

Colorado now requires Mortgage Companies to be licensed by the state. On May 26, 2010, Colorado Governor Bill Ritter, Jr. signed a bill (H.B. 10-1141) that (i) creates a new state mortgage regulatory division, the Board of Mortgage Loan Originators, and (ii) establishes registration deadlines for mortgage loan originators and mortgage companies via the Nationwide [...]

5 05, 2010

SAFE Mortgage Licensing Act

2017-01-23T19:53:14-08:00May 5th, 2010|Loan Originator Licensing, Mortgage Licensing News, NMLS|

The SAFE Mortgage Licensing Act (Title V of P.L. 110-289, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008) was signed into law in July 2008. It requires every loan originator taking a residential mortgage loan application from a consumer to obtain a mortgage loan originator (MLO) license from the State Agency in [...]

4 05, 2010

California DRE now requires Mortgage Loan Originator Endorsement through NMLS

2017-01-23T19:53:14-08:00May 4th, 2010|Loan Originator Licensing, Mortgage Licensing News|

California Department of Real Estate now requires Salespersons and Brokers to obtain an endorsement to their license through the NMLS if they want to use their license to originate residential mortgage loans. By January 31, 2010, or within 30 days of commencing the activity whichever is later, all licensees must report to the Department of [...]

4 05, 2010

Washington Adds Servicing Licensing Through NMLSR

2015-05-23T08:11:03-07:00May 4th, 2010|Mortgage Licensing News, Mortgage Servicer Licensing|

Washington Mortgage Loan Services must obtain a consumer license by July 1, 2010. The state of Washington added additional requirements of servicer licensing and reporting responsibilities under the Consumer Loan Act and clarification of loan modification services regulated by the Department of Financial Institutions under both the Consumer Loan Act and the Mortgage Broker Practices [...]

12 11, 2009

Pennsylvania Surety Bond Mortgage Licensing Requirements

2017-01-23T19:53:14-08:00November 12th, 2009|Mortgage Licensing News, Surety Bond|

SURETY BOND INFORMATION REGARDING THE MORTGAGE LICENSING ACT On August 5, 2009, Governor Edward G. Rendell signed into law as Act 31 of 2009, House Bill 1654 (P.N. 2448), which amends Pennsylvania’s existing mortgage licensing law, 7 Pa.C.S. Chapter 61, now titled the Mortgage Licensing Act (“MLA”), in order to implement the federal Secure and [...]

6 11, 2009

Illinois Requires Licensing of Mortgage Loan Originators

2017-01-23T19:53:15-08:00November 6th, 2009|Loan Originator Licensing, Mortgage Licensing News|

Illinois passed a bill requiring the licensing of loan originators. Under the bill, mortgage loan originators and loan processors of underwriters acting as independent contractors must obtain a license under the Residential Mortgage License Act of 1987, unless exempt. The bill also establishes loan originator requirements with respect to education, exemptions, fees, renewals, bonds and [...]

6 11, 2009

Kansas Mortgage Broker Licensing becomes part of NMLS

2017-01-23T19:53:15-08:00November 6th, 2009|Mortgage Licensing News, NMLS|

Kansas adopted rules amending the Mortgage Business Act. Under the rules, mortgage loan originators are required to complete 20 hours of education and pass a written test prior to licensure. The rules also amend surety bond requirements, increase licensing fees for branch offices and establish additional record retention requirements for mortgage companies. Kansas also adopted [...]

5 11, 2009

Maryland NMLS-Approved SAFE Mortgage Loan Originator Test Available

2015-05-23T08:11:31-07:00November 5th, 2009|Loan Originator Licensing, Mortgage Licensing News, NMLS|

We are pleased to announce that NMLS-approved SAFE mortgage originator test components – both the national and the Maryland component – are now available for enrollment and scheduling. The first test appointments for the Maryland component will be available on October 22nd. The national component has been available since July 30, 2009. Registration is now [...]

5 11, 2009

California Enacts SAFE Act Legislation – NMLS Mortgage Broker Licensing

2015-05-23T08:11:36-07:00November 5th, 2009|Loan Originator Licensing, Mortgage Licensing News|

On October 11, California Governor Arnold Schwarzenegger signed into law S.B. 36, a bill that requires the employees of licensees under the California Finance Lenders Law (CFLL) and the California Residential Mortgage Lending Act (RMLA) that are engaged in the business of mortgage loan origination to be licensed, beginning July 1, 2010. The bill similarly [...]

5 11, 2009

North Carolina Annual Mortgage Broker License Renewal Notice

2015-05-23T08:11:42-07:00November 5th, 2009|License Updates, Mortgage Licensing News|

NC Commissioner of Banks Office Mortgage Licensing Division Location: 316 W. Edenton Street, Raleigh, NC 27603 Mailing Address: 4309 Mail Service Center, Raleigh, NC 27699-4309 Telephone: 919-733-0589 Fax: 919-733-2978 Internet: www.nccob.org October 16, 2009 Company Annual License Renewal Notice RENEW YOUR LICENSE ONLINE AT: www.stateregulatoryregistry.org/NMLS BEFORE DECEMBER 31, 2009 The Renewal Period will begin November [...]

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