HI SB1070

Adds new section 454M- to Chapter 454M, Hawaii Revised Statutes, granting the commissioner of financial institutions broad authority to conduct investigations and examinations of mortgage servicers and persons subject to the chapter.

Commissioner may access books, accounts, records, files, documents, and evidence; subpoena witnesses; direct production of documents; and control access to records during examinations or investigations.

Commissioner may retain accountants, professionals, and specialists; enter into agreements with other government officials; use analytical systems and software; and accept examination reports from other government agencies or certified public accountants.

Increases application fee for mortgage servicer licenses from $500 to $675 and renewal fee from $250 to $425; requires licensure subject to NMLS or commissioner approval.

Replaces references to "Nationwide Mortgage Licensing System" with "NMLS" throughout chapter 454M; allows commissioner to require mortgage servicers to register with NMLS; changes reporting requirement from Housing and Urban Development to Consumer Financial Protection Bureau.