MS SB2504

Reenacts and amends the Mississippi S.A.F.E. Mortgage Act governing licensing and regulation of mortgage brokers, lenders, and loan originators.

Reduces annual continuing education requirements for licensed mortgage loan originators from twelve (12) hours to eight (8) hours, eliminating the requirement for two hours of education specific to the Mississippi S.A.F.E. Mortgage Act.

Extends the repealer date of the mortgage licensing statute from July 1, 2016 to July 1, 2020.

Deletes the registration requirement for mortgage loan originators through the Nationwide Mortgage Licensing System and Registry, retaining only licensing requirements.

Expands prohibited conduct to include signing a consumer's name to loan documents on their behalf, falsifying income or asset information, and discouraging consumers from seeking independent legal counsel.