New York’s UST Implementation Begins Today
As a reminder to all companies operating in New York, use of the Uniform State Test (UST) for state-regulated mortgage loan originators became effective today (September 2) for New York’s Department of Financial Services. The number of state mortgage banking regulators that have adopted the UST currently stands at 45, with three of these regulators still having a pending implementation date: Ohio’s Division of Financial Institutions (September 15), Connecticut's Department of Banking (October 1), and Oklahoma’s Department of Consumer Credit (October 1).
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Info: MBA NENY Posted by: brian.garis on Wednesday, January 06, 2010 - 03:14 PM
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WASHINGTON, D.C. - U.S. Treasury Secretary Henry M. Paulson, Jr. released the Blueprint for Financial Regulatory Reform, which proposes significant changes to modernize and regulate the country’s financial system. The plan includes the expansion of the Federal Reserve and the creation of the Mortgage Origination Commission, which would oversee state-level regulation of mortgage origination practices.