Texas regulator issues MLO work location guidance

State Issues Texas Mortgages Loan Origination Licensing Covid-19

On March 20, the Texas Department of Savings and Mortgage Lending issued a statement temporarily suspending any requirement that a physical office of a licensed mortgage entity be open to the public during posted normal business hours. Additionally, licensed MLOs may work from home or another remote location, as long as (i) strict security of information is maintained; (ii) all physical business records are kept at a licensed office; and (iii) consumers are not allowed to go to the MLO’s home.