Financial Institutions - Licensing of Affiliated Insurance Producer-Mortgage Loan Originators - Alterations

From the Legislature

Altering the licensing requirements for an affiliated insurance producer-mortgage loan originator; and requiring the Commissioner of Financial Regulation to approve a certain financial institution that meets certain criteria or certain mortgage lenders that meet certain criteria to sponsor an affiliated insurance producer-mortgage loan originator if the mortgage lender is in good standing with the Commissioner and any other regulator to which it is subject and is in material compliance with applicable state and federal law.