Mortgage Loan Originators

By on April 2, 2013

The State Corporation Commission has recently amended its regulations governing Mortgage Loan Originators.  Among other things, the amendments affect the criteria used by the Commission in determining whether an applicant has the financial responsibility, character and general fitness required for a license.  The new regulations also establish time periods within which licensees must respond when the Bureau asks licensees to provide a written response, books, records or other documentation.  The amendments include various changes to conform to Virginia regulations to the federal Safe Act and to address the re-codification of Title 6.1 of the Code of Virginia.