CSBS Settles Lawsuit Over Purloined MLO Exam

Jan 08, 2020

The Conference of State Bank Supervisors (CSBS) has announced its State Regulatory Registry (SRR) subsidiary, which operates the Nationwide Multistate Licensing System (NMLS), has settled a lawsuit against four defendants who allegedly misused and reproduced copyrighted questions from the national exam that state-licensed mortgage loan originators (MLO) must pass to obtain a license.

According to the lawsuit, Colorado-based MTI—along with Don Exley, Carey Green and Billy Glenn “Bart” Bartholomew—misused and reproduced the copyrighted SAFE MLO Test questions without authorization. SRR revoked MTI’s NMLS-approved course provider status and barred Exley from being associated with any NMLS-approved course provider. Bartholomew was also barred from associating with NMLS-approved course providers for five years, while Green’s access to NMLS was suspended indefinitely.

CSBS added in a press statement that “all the parties have reached settlements on terms that were satisfactory to SRR,” but offered no further details.

“The integrity of the SAFE Act test is integral to ensuring that state-licensed mortgage loan originators understand the laws and regulations they operate under and to protecting consumers from bad actors,” said John Ducrest, Commissioner of the Louisiana Office of Financial Institutions commissioner and Board Chairman of the SRR.

About the author

Phil Hall

Link copied

Published

Jan 08, 2020

Analysis and Data

Redfin: Homebuyers Gain Leverage, But Pending Sales Keep Sliding

Pending sales fall 16.4% from a year ago despite lower home prices and mortgage payments, as sellers retreat from a weakening market

Home prices are falling. Mortgage payments are easing. Sellers are becoming more willing to negotiate. Yet the housing market keeps losing buyers.Pending home sales fell 16.4% year over year during the four weeks ending Nov. 1, reaching their lowest level in Redfin's weekly ...

Tech

New AI-Run Mortgage Startup Builds Database Of 224,000 LOs

LenDb.ai is making LO records available to AI assistants, offering a potential new way for borrowers to find originators

A new mortgage technology startup is betting that borrowers will increasingly turn to artificial intelligence to find a loan originator, and it wants to make sure AI knows whom to recommend.LenDb.ai, launched Thursday by venture studio Draper Goren Blockchain, has assembled ...

Jan

Uncasville, CT

More from

Regulation and Compliance

CFPB Closes 40% Of Investigations, Keeps Mortgage Enforcement In Focus

The federal watchdog closed thousands of supervisory and investigative matters as it narrowed oversight

Regulation and Compliance

Nov 05, 2026

Midterms Loom With Mortgage Policy Changes Already In Motion

As voters head to the polls Tuesday, Washington is weighing changes to refinancing costs, loan pricing, and lending regulations

Regulation and Compliance

Nov 02, 2026

UAD 3.6 Deadline Is Monday. Are Brokers Ready?

Wholesale lenders have adopted different rules for appraisal transfers, loan product changes, and reporting formats, adding complications for brokers and appraisers ahead of the Nov. 2 mandate

Regulation and Compliance

Oct 27, 2026

Friday Harbor Expands AI Appraisal Reviews As UAD 3.6 Deadline Nears

The new capability adds more than 350 automated checks as lenders prepare for the November 2 mandate

Tech

Oct 27, 2026

The Hidden Cost Of Appraisal Uncertainty

As home equity lending grows, lenders need a better way to resolve conflicting property evidence before it creates costly setbacks

Regulation and Compliance

Oct 25, 2026