Consumer Financial Services Law Blog
Dykema Gossett PLLC
Dykema Gossett PLLC

Consumer Financial Services Law Blog

Consumer Financial Services Law Blog

News and analysis regarding Consumer Financial Services litigation and regulation, and activities of the Consumer Financial Protection Bureau

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Showing 5 posts in State Mortgage Licensing.

Are you ready for NMLS renewal?

The NMLS renewal window opens this Saturday, November 1st.  Are you ready to submit your renewal requests?  Here are some things to keep in mind: Read More ›

Connecticut Bill Requires Licensing of Servicers Beginning January 2015

Beginning January 1, 2015, Connecticut will require any person acting as a mortgage servicer to hold a license from the Connecticut Department of Banking. Connecticut House Bill 5353, which was signed by the governor on June 3, 2014, requires a license for any servicer’s main office location as well as any branch office where servicing activity is conducted. Read More ›

Tennessee Law Exempts Mortgage Servicers From Collection Agency Licensure

A Tennessee law passed and effective on May 22, 2014 changes the existing licensing requirements for mortgage servicers seeking to obtain the Tennessee Collection Service License.  Under the new law, the definition of “collection service” has been changed, removing the licensing requirement for "any person that engages in, or attempts to engage in, the collection of notes or guarantees.”   Tenn. Code Ann. § 62-20-102(3).   Read More ›

NMLS to House Mortgage Company Applications Nationwide as of June 2, 2014

The Missouri Division of Finance has announced that it will begin accepting new application and transition requests through NMLS starting June 2, 2014 for mortgage company and branch licenses. This announcement follows shortly behind the Guam Department of Revenue and Taxation, which began accepting new application and transition requests for mortgage company and branch licenses April 28, 2014.  Read More ›

Don’t let your Mortgage Loan Originators miss the deadline for enrolling for the Stand-Alone portion of the Uniform State Test

As of January 1, 2014, 39 state mortgage agencies have replaced their state-specific test components with the adoption of the Uniform State Test (UST).  The other 19 agencies may elect to adopt the UST at a future date, but are not required to do so.  By passing the National Test with Uniform State Content or the Stand-alone UST, a candidate can satisfy the testing requirements for licensure in those adopting states, and any states that adopt in the future.  To see which states have adopted the UST visit the UST Adoption Map and Table posted on the NMLS Resource Center. Read More ›