Lenders Frustrated with Reporting Requirements from State Regulators, Seek Delays and Limitations on Data Collection
June 11, 2015
Lenders pushed back against state regulators that are considering changes to the Nationwide Multistate Licensing System and Registry licensing forms and the Mortgage Call Report. The State Regulatory Registry, which operates nationwide systems for state regulators, received a total of 11 comments from individuals and organizations regarding a proposal issued in May. Lenders provided a few constructive suggestions along with voicing frustration regarding state regulators’ data collection efforts. Pete Mills, a senior vice president of residential policy and member services at the Mortgage Bankers Association, urged...