Housing and Economic Recovery Act

Louisiana Law Cracks Regulation Whip over Originators’ Heads 

A state bill that took effect July 31 is changing how mortgage originators operate in Louisiana. State lawmakers passed Louisiana Act 522 (HB 810) — or the Louisiana Secure and Fair Enforcement of Mortgage Licensing Act of 2009 — which requires loan originators, including lenders and brokers, to register with a state-approved licensing system. The act aims to increase transparency in originations and provide for more efficient regulation of originators.