Pennsylvania HB1882 amends mortgage loan licensing and consumer protection laws, updating definitions, exceptions to license requirements, and.
Pennsylvania HB1882 amends Title 7 of the Pennsylvania Consolidated Statutes to revise mortgage loan industry licensing and consumer protection. It updates the definition of "branch manager" to include only those licensed as mortgage originators. It exempts affiliates of banking institutions and subsidiaries and affiliates of federally chartered or State-chartered credit unions from licensing requirements, except for consumer discount companies.
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