Photo of Robert S. Niemi, CMB

Bob Niemi is a Senior Advisor* for Financial Services in Bradley’s Charlotte and Washington, D.C. offices. As a mortgage leader and industry advocate for more than 25 years, Bob understands the challenges facing clients in today’s regulatory environment. He has extensive experience in all facets of the lending industry, including auto finance, consumer and small dollar lending. As a CMB, Bob possesses training-level knowledge of the mortgage process, and has a deep understanding of changing mortgage regulations.

New York DFS Turns Up the Heat with Climate Change BulletinThe New York Department of Financial Services (DFS) has issued a bulletin on climate change and financial risks to the financial institutions and insurance companies it supervises regarding the impact of climate change on those institutions. DFS asserts that “[f]inancial risks from climate change are unprecedented” and notes a warning from the Bank for International

New Mortgage Licensing Requirements Come to the WestDuring this pandemic, both Idaho and South Dakota have been busy adding new mortgage licensing requirements. As discussed below, these new licensing requirements will materially impact mortgage lenders and servicers doing business in these states.

Idaho

Earlier in 2020, Idaho passed H0401, which amended the definition of “mortgage lender” to include mortgage companies that

Updates from 12 State Regulatory Agencies Regarding Coronavirus and Related Work from Home IssuesAs regulatory agencies provide guidance regarding working from home for financial services professionals while the COVID-19 outbreak progresses, we summarized the additional guidance issued in the recent past and current as of March 24, 2020.

California Department of Real Estate Released Frequently Asked Questions Relating to COVID-19

The California Department of Real Estate’s Frequently Asked

Four Additional States Issue New Guidance Relating to Working from Home; Massachusetts and New York Supplement Previous GuidanceAs we continue to follow the trend of regulatory agencies providing guidance allow working from home for financial services professionals while the COVID-19 outbreak progresses, we summarized the additional guidance issued in the recent past and current as of March 19, 2020.

Colorado Department of Regulatory Agencies, Division of Real Estate Issued an Advisory on

Georgia Publishes 11th-Hour Temporary Authority RuleIt has been almost 18 months since the passage of the Economic Growth, Regulatory Relief, and Consumer Protection Act or (as most people in the industry refer to it) the “Temporary Authority Act.” Section 106 of the act allows qualified applicants for mortgage loan originator (MLO) licenses to utilize temporary authority to continue to originate

Arkansas Modifies Fair Mortgage Lending Act – Big Changes Will Ease Burdens on the Mortgage IndustryThe Arkansas State Legislature modified the Fair Mortgage Lending Act in February to “comply with recent developments in Federal Law and other purposes.” Federal law was recently amended to allow for Temporary Mortgage Loan Originator (MLO) Authority as defined under the Economic Growth, Regulatory Relief, and Consumer Protection Act or S.2155. The “other purposes” reason

The Ohio Division of Financial Institutions (DFI) recently provided the much-needed updates to the recent legislation that expanded the registration requirements under the Ohio Residential Ohio Mortgage Servicing UpdateMortgage Lending Act (RMLA). The bill, HB 489, was passed unanimously in December 2018 and signed by Gov. Kasich in his last days in office. The expanded RMLA will now