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ARTICLE · 27 MARCH 2020

Coronavirus Hits Hard – Branch Licensing May Be Waived

Mayer Brown
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Last week, in a blog entitled "Coronavirus Hits Home," we informed you that we had contacted the Conference of State Bank Supervisors ("CSBS") ...

United StatesFinance and Banking
Costas Avrakotos
Costas Avrakotos
Keisha Whitehall Wolfe
Keisha Whitehall Wolfe
Robin Gieseke
Robin Gieseke
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Last week, in a blog entitled "Coronavirus Hits Home," we informed you that we had contacted the Conference of State Bank Supervisors ("CSBS") and regulators in a number of states to see what CSBS or the state regulators were telling mortgage lender or broker licensees as to whether their licensed MLO employees who had been quarantined in their homes because of the coronavirus ("COVID-19") could continue to originate mortgage loans from their homes without the home being licensed as a branch office. Since that blog, CSBS has posted certain state-by-state COVID-19 guidance on the NMLS Resource Center, which among other things covers relevant business continuity plans for licensed mortgage loan officers. We urge you to check the NMLS Resource Center and the State Agency websites for the guidance provided.

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