Licensing Link

April 27, 2023



Welcome to Licensing Link, a periodic publication that will keep you informed on hot topics and new developments in state licensing laws, and provide practice tips and primers on important issues related to state licensing across the spectrum of asset classes and financial services activities. We look forward to you joining us for future editions!


North Dakota Adopts New Residential Mortgage Licensing Requirements

North Dakota currently licenses and regulates all types of lending in North Dakota (other than payday lending)—including mortgage lending, non-mortgage consumer lending, commercial lending, and finance leasing—under the North Dakota Money Brokers Act. North Dakota is also one of the only states that does not currently require a license to service residential mortgage loans. That is set to change as of August 1, 2023, now that Governor Doug Burgum has signed Senate Bill 2090 (“SB2090”) and House Bill 1068 (“HB1068”). Read More>>


Spring Cleaning: Changes to Collection Agency Laws

The spring season has brought with it amendments and proposed changes to collection agency licensing provisions, as state legislatures engaged in some “spring cleaning” to clarify and modernize existing laws. Amendments passed in Utah (House Bill 20) and Wyoming (House Bill 284), and important proposed changes in Nevada (Senate Bill 276), reflect a trend to bring collection agency licensing laws up to date with market practice, or repeal outdated, inconsistent, or duplicative laws. We provide a primer on enacted or proposed collection agency licensing changes in these three jurisdictions. Read more>>


For more information about this topic, please contact the editors, Krista Cooley, Partner, Washington DC at and +1 202 263 3315 and Frank Doorley, Partner, Washington DC at and +1 202 263 3409.

For more than 20 years, our Financial Services Regulatory and Enforcement practice’s licensing team has helped clients engaged in lending and other consumer credit activities navigate every aspect of state licensing. We routinely undertake nationwide licensing and renewal efforts involving all manner of professional licenses for consumer credit-related activities, including mortgage lending, brokering or servicing, consumer lending and brokering, commercial mortgage and non-real estate-secured commercial or business activities, collections, money services or money transmitter businesses, sales finance activities, and real estate broker activities. We not only help companies evaluate the need for and obtain state licenses but also help steer them through license renewals, examinations and required reporting, changes of control, and license surrenders and provide other services that help companies remain in good standing with state licensing regulators.

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