Bill > HB643

This bill amends various sections of Kentucky's laws regulating the mortgage loan industry. Key provisions include: - Defining "alternate work location" and allowing employees of licensees to engage in the mortgage lending process from alternate locations if certain conditions are met. - Revising the licensing fees and annual assessments for mortgage loan companies and brokers, with the annual assessment based on the volume of loans originated and serviced. - Requiring proper supervision and control by licensees over employees engaged as mortgage loan originators, including establishing security and monitoring requirements for employees working from alternate locations. - Prohibiting records from being maintained at alternate work locations and permitting mortgage loan companies and brokers to utilize third-party secure storage facilities under certain conditions. - Making various other technical and conforming amendments to update references and align with federal laws like the S.A.F.E. Mortgage Licensing Act.