Regulators should maintain temporary flexibility in licensing rules for mortgage professionals, a Conference of State Bank Supervisors committee chair said in a letter Friday.
“If you have provided a public notice of flexibility or no action, consider whether that notice is scheduled or likely to expire in the coming weeks or months, and where possible, extend the expiration,” Deborah Hagen, chair of the CSBS Non-Depository Supervisory Committee, recommended in the letter.
Hagen said in her letter that the full NDSC committee voted to make the recommendation based on several considerations, including the time needed for businesses to minimize the risk of coronavirus infections for their employees. The letter also recommends states consider allowing more permanent flexibility for situations in which data security can be maintained.
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