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CSBS Releases Cybersecurity Programs to Help Nonbank Financial Services Institutions Improve Cybersecurity Posture

October 4, 2022 By Lance Taubin, Kimberly Peretti, Nanci Weissgold and Consumer Finance Team

A&B ABstract On August 9, 2022, the Conference of State Bank Supervisors (CSBS) released two cybersecurity tools for nonbank financial services institutions to help them prepare for state cybersecurity examinations and, ultimately, improve cybersecurity maturity and protect financial institution infrastructure. These tools are designed to address key aspects of the Uniform Rating System for Information […]

Filed Under: Federal Trade Commission (FTC), Online Privacy, Privacy and Cybersecurity, State Law Tagged With: CSBS, Cybersecurity

NMLS Seeks Comments on Proposed Revisions to Company and Individual Disclosure Questions

August 10, 2022 By Nanci Weissgold, Anoush Garakani and Aileen Ng

A&B Abstract: The Nationwide Multistate Licensing System & Registry (NMLS) Policy Committee is inviting comments on the NMLS Disclosure Questions Proposal. The comment period is now open and runs until August 22. Among other revisions, the proposal details suggested revisions to the disclosure questions on the Company (MU1) and Individual (MU2) forms. Proposed Revisions to […]

Filed Under: Consumer Loan, Licensing, State Law Tagged With: CSBS, licensing, NMLS

Connecticut and Maryland Adopt Model Mortgage Servicer Prudential Standards

August 1, 2022 By Nanci Weissgold, Anoush Garakani and Josh Dhyani

A&B Abstract: On May 24, 2022, Connecticut enacted legislation that, among other things, adds financial condition and corporate governance requirements for certain licensed mortgage servicers (the “CT Standards”). In similar fashion, the Maryland Commissioner of Financial Regulation (the “Commissioner”) issued a notice of final action on March 25, 2022 adopting similar standards by regulation (the […]

Filed Under: Federal Housing Finance Agency (FHFA), Mortgage Servicing, State Law Tagged With: #GSEs, #mortgageservicing, CSBS, Mortgage Servicing, Servicing

CSBS Proposes Prudential Standards for Servicers

December 2, 2020 By Nanci Weissgold

A&B Abstract: The Conference of State Bank Supervisors (“CSBS”) proposed regulatory prudential standards (the “Standards”) to develop a consistent regulatory structure of nonbank mortgage servicers.  Comments on all aspects of the Standards are encouraged by December 31, 2020. Background: Since the financial crisis, the rapid growth of mortgage bank mortgage servicers has led regulators to […]

Filed Under: Mortgage Loans, Mortgage Servicing Tagged With: CSBS

CSBS’s State Examination System Coming Soon

September 26, 2019 By Nanci Weissgold

A&B ABstract The Conference of State Bank Supervisors (CSBS) revolutionized state licensing with the National Mortgage Licensing System (NMLS) by providing a more uniform approach to state licensing of non-bank financial services companies.  CSBS will bring a similar transformation to supervising such companies. The New State Examination System CSBS designed the State Examination System (SES) […]

Filed Under: Licensing, Mortgage Loans, State Law Tagged With: CSBS

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Recent Posts

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