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On October 26, the Washington Department of Financial Institutions issued interim regulatory guidance to licensed mortgage loan originators and companies that sponsor them relating to temporary remote work. The guidance extends earlier interim guidance (previously covered here, here, and here) permitting mortgage loan originators to work from home, provided certain data security obligations are met. The guidance extends through March 31, 2021.
On October 22, the Tennessee Department of Financial Institutions issued a memorandum to licensed mortgage loan originators suspending its requirement that licensees complete a criminal background check or authorize a credit report if they have not done so in the past three years as a condition to renewal for calendar year 2021, except where the mortgage loan originator has entered into a consent agreement with the department requiring such actions. The memorandum states the requirement will be in effect for licensee renewal for calendar year 2022.
On September 28, the Rhode Island Department of Business Regulation, Banking Division, extended previous guidance (previously covered here and here) issued to mortgage loan originators, lenders, loan brokers, and exempt company registrants. The guidance permits working from home, even if the home is located outside of Rhode Island or is not a licensed branch, so long as specified data security provisions are met. The department extended this guidance until December 31, 2020.
On September 21, the California Department of Real Estate issued FAQs on licensing processes during Covid-19. The FAQs respond to questions regarding, among other things, how to determine whether an exam has been cancelled and how to reschedule the exam, the best way to complete a renewal of an expiring real estate license, completing continuing education requirements, and whether the DRE will accept electronic signatures on licensing documents.
On September 1, South Dakota’s Division of Banking updated Memorandum 11-003 (previously covered here and here) to extend the time period in which licensed mortgage loan originators can work from home until December 31, 2021, so long as certain conditions relating to data and records security are met.
On August 18, the Arkansas Securities Department further extended interim regulatory guidance previously issued to licensed mortgage companies, mortgage loan officers, and branch managers. The original interim regulatory guidance, previously covered here, and extended in May, permits mortgage loan officers to conduct activities requiring a license from home, provided certain data security provisions are met. This guidance is extended through the duration of the emergency declared by the governor of Arkansas.
On July 19, the Colorado governor issued Executive Order 2020 141, which extends Executive Order D 2020 015, as amended by several earlier orders, until August 18, 2020. Executive Order D 2020 015 authorizes the Department of Regulatory Agencies to promulgate and issue emergency rules extending the expiration date of licenses issued by the Division of Banking for money transmitters and licenses issued by the Division of Real Estate for real estate brokers.
Hawaii regulator extends guidance permitting licensees to reduce office hours, temporarily close offices
On July 2, the Hawaii Division of Financial Institutions extended earlier guidance, previously covered here, that temporarily permits licensees with locations in Hawaii to reduce hours or close offices during Hawaii’s Covid-19 emergency period. Notice of temporary closure or relocation from certain licensees, including escrow depositories and financial institutions, is required. The guidance is extended to July 31, 2020.
On June 30, the California governor signed Executive Order N-71-20 (previously discussed here), which extends authorization for local governments to halt evictions for renters impacted by the Covid-19 pandemic through September 30. Among other things, the executive order also extends the deadlines in connection with certain licenses, including real estate licenses, which we previously covered here.
Washington Department of Financial Institutions extends guidance on remote work for mortgage loan originators
On June 22, the Washington Department of Financial Institutions issued interim regulatory guidance to licensed mortgage loan originators and companies that sponsor them relating to temporary remote work. The guidance extends earlier interim guidance permitting mortgage loan originators to work from home, previously covered here, until December 31, 2020.
- Jonice Gray Tucker to discuss "Cyber security, incident response, crisis management" at the Legal & Diversity Summit
- Jonice Gray Tucker to discuss "The future of fair lending" at the Mortgage Bankers Association Regulatory Compliance Conference
- Michelle L. Rogers to discuss "Major litigation" at the Mortgage Bankers Association Regulatory Compliance Conference
- Kathryn L. Ryan to discuss "Pandemic fallout – Navigating practical operational challenges" at the Mortgage Bankers Association Regulatory Compliance Conference
- Jonice Gray Tucker to discuss "Consumer financial services" at the Practising Law Institute Banking Law Institute
- Daniel P. Stipano to discuss "BSA/AML - Covid impact and regulatory/guidance roundup" at an NAFCU webinar
- Daniel P Stipano to moderate "Digital identity: The next gen of CIP" at the American Bankers Association/American Bar Association Financial Crimes Enforcement Conference