Certifications and licensing

Momentum against Maryland guidance that extends licensing requirements to securitization trusts is growing and some legislators want to scale it back.

In its initial message to the new head of the Consumer Financial Protection Bureau, the Community Home Lenders Association reiterated its call to require depository loan officers to be licensed.

All states that had licensing restrictions related to remote work temporarily lifted them due to the pandemic, but whether those changes could become permanent remains to be seen.

The Conference of State Bank Supervisors on Friday launched a centralized link to state websites highlighting information relevant to business continuity plans for licensed mortgage loan officers.

A Conference of State Bank Supervisors subsidiary settled a lawsuit with defendants who allegedly misused and reproduced copyrighted questions from a national exam mortgage loan officers take to obtain licenses.

The Consumer Financial Protection Bureau issued new rules governing mortgage lenders' screening and training of loan originators with temporary authority.

Mortgage brokers need to consider bringing their business into new locations to overcome limitations like competition and a finite number of possible customers.

New Jersey Governor Phil Murphy signed a bill to revise the state's Residential Mortgage Lending Act to facilitate transitional licensing for loan officers and to streamline the law's provisions for borrower fees.

Servicers and MSR investors face increased regulation and oversight as nearly all states now require some form of licensing for firms responsible for mortgage collections.

Mortgage licensees in West Virginia will pay higher application fees and need to take additional hours of mandatory prelicensing and continuing education under an amendment to the state's licensing law.