Connecticut passed a bill amending the Nondepository Mortgage Lenders and Brokers Act. Under the bill, licensed activity may only be conducted from an office located in a state or territory of the U.S. The bill also mandates that mortgage loan originators be associated with an office located within 100 miles of the loan originator’s residence (unless the loan originator can otherwise demonstrate that the loan originator will be subject to supervision by a qualified individual or branch manager). In addition, the bill amended requirements with respect to denials, exemptions, notifications, bonds, revocation or suspension, advertisements, recordkeeping, qualified individuals and branch managers. The bill went into effect October 1, 2018.
See Connecticut General Assembly website for the full text of the Statutes:
https://www.cga.ct.gov/2018/ACT/pa/pdf/2018PA-00173-R00HB-05490-PA.pdf
