HB5419: Relating to the licensure and regulation of mortgage brokers, lenders, and loan originators

Legislative Summary

The purpose of this bill is to update the law related to mortgage lender and broker regulation to align control of a licensee and key individuals with other regulatory programs, allow West Virginia to participate in and accept multistate examinations as well as application information and decisions to reduce regulatory burden on licensees, and bring West Virginia into conformity with a majority of jurisdictions by permitting remote work for mortgage loan originators.