|Posted:||March 29, 2021 09:35 AM|
|From:||Representative Robert W. Mercuri|
|To:||All House members|
|Subject:||REMOTE MORTGAGE BANKING|
|The past year has brought some unprecedented challenges to conducting business in the Commonwealth. A year ago, we were in a time of ‘flattening the curve’ and many Pennsylvanians were required to work virtually. Among them were licensed mortgage brokers.
Under current law, mortgage brokers are required to “work out of a licensed location” However, under the Governor’s emergency orders, this requirement has been waived and Pennsylvania’s mortgage brokers have been working remotely and originating mortgages in places other than their licensed place of business.
In the near future, I plan on introducing legislation that will amend Title 7 (Banks and Banking) to allow for remote mortgage origination to continue and allow PA’s mortgage brokers to continue working as they are now, whether remotely or in a licensed location.
Please join me in facilitating Pennsylvania’s economic comeback and co-sponsor this legislation.
Introduced as HB1588