AARMR No Protection For Savanah Scares

Conference provides opportunity for regulators to interact, discuss common topics

Bob Niemi
Bob Niemi
Om-Bobs-Man_Savannah

The highlight of the hot topic sessions were announcements from Maryland and Kansas that their departments would be introducing legislation to eliminate branch licensing. Regulators reinforced that companies still need to know where their originators are conducting business and will notify the regulator where their branches are located. However, the full details of the bills and how each state would handle the offset of the loss of branch licensing revenue was not fully discussed.

Examining Exams

Examinations were a featured theme beyond the hot topic sessions with several states discussing the use of the State Examination System (“SES”) during hot topics as well as specific session on lessons learned from the One Company, One Exam (“OCOE”) pilot that was ongoing. States shared that they were still testing the SES or just onboarding to the system. This fact was evident in the discussion of the challenges learned from the use of the SES and the OCOE process. Several states were onboarded to the SES just before the OCOE and that weekly training events were still being held for examiners during the examination.

Clearly the discussion showed that the regulators understood that the OCOE pilot was putting tremendous pressures on to the company being examined, though the company name was never mentioned. New examiners and recently onboarded states provided many challenges to the company and process. The lessons learned would be brought back and the process evaluated before the next OCOE was attempted.

Industry panel sessions and the attendee round table finished out the conference. Topics discussed were NMLS system delays, branch licensing flexibility, state CRA requirements and more. AARMR has announced plans for a full conference in August of 2022 in Indianapolis.

Bob Niemi
Bob Niemi

Bob Niemi is a senior advisor at Bradley Arant Boult Cummings LLP.

This article was originally published in the Mortgage Banker January 2022 issue.
Published on
Jan 04, 2022
More from Mortgage Banker
Mortgage Banker Magazine
Foreclosure Activity Sets Post Pandemic Highs

Report shows foreclosure filings up 132 percent from a year ago

Mortgage Banker Magazine
CFPB: Forbearance Programs Worked

A significant number of homeowners have transitioned out of forbearances over the last year

Mortgage Banker Magazine
Originators Are Having a Different Discussion

With rates rising, the sales conversation has to become broader

Rob Chrisman

Webinars

Mastering Cash-out Refi's to Drive Volume in Today's Mortgage Market

In Today's constantly changing mortgage market with fluctuating rates, margin compression, and declining origi...

Investor Confidence in Today’s Non-QM And Why Originators Are Paying Attention... A Virtual Town Hall

We host Angel Oak Mortgage Solutions for a special 2021 edition of their virtual town hall series they ran fro...

Webinar
Apr 08, 2021
How to Help Real Estate Pros in a Post-Refi World

Hear from Melissa Merriman, REALTOR® with The Melissa Merriman Team at Keller Williams, on what real estate pr...

Webinar
Mar 18, 2021
Highlights
Home Sales Decline In April

Redfin reports soaring mortgage rates cause sales drop.

Analysis and Data
Forum Calls For More Inclusive Access to Homeownership

FHFA, policy experts, and journalists join NAR-Urban Institute discussion on accessibility and affordability challenges.

Regulation and Compliance
Financial Well-Being of U.S. Adults Improving

Hispanics and parents are doing the best.

Analysis and Data
Connect with your local mortgage community.

Meet your your colleagues, both national and local, by attending an event in your area.