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#2275922 - 09/22/22 02:24 PM Exempt from State Licensing
CMSIngenue Offline
100 Club
Joined: Jan 2013
Posts: 154
We have a correspondent division that purchases closed loans. We have a bank that was recently approved and they are exempt from state licensing laws. Registered in NMLS with the FDIC as their primary regulator. The banks headquarters are in California. Would the bank be allowed to originate and close loans all over the country since they are exempt from state licensing laws?

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S.A.F.E. Act Forum
#2275928 - 09/22/22 03:06 PM Re: Exempt from State Licensing CMSIngenue
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,029
Bloomington, IN
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The opinions expressed are mine and they are not to be taken as legal advice.

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