States Settle With LOs Accused in Education Scheme

The Massachusetts Division of Banks has joined more than 40 other regulatory agencies nationwide in settling with hundreds of mortgage loan originators who allegedly participated in schemes to avoid taking required classes to maintain mortgage licenses.

SAFE Act Versus TILA Rule

By being careful to comply with SAFE Act requirements by maintaining NMLS licenses for more employees than is likely necessary, are bankers putting themselves at greater risk of running afoul of Truth in Lending requirements?