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

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

The September jobs report gave the mortgage market something it hasn't had much of lately: downward pressure on Treasury yields.U.S. employers added just 29,000 jobs in September, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics. The ...

Wholesale

The Loan Store Rebrands As Averra Financial

The wholesale lender is adopting a new identity three years after acquiring Homepoint’s wholesale business and rising to No. 4 in industry rankings

The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company annou...

Nov

Houston, TX

More from

Analysis and Data

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Analysis and Data

Oct 02, 2026

Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Analysis and Data

Oct 01, 2026

Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Analysis and Data

Sep 29, 2026

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Analysis and Data

Sep 25, 2026

Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Analysis and Data

Sep 25, 2026

Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Tech

Sep 23, 2026

Popular