Regulatory Alerts2026-08-25
Added
Kansas Mortgage Business Act Statutes
The Kansas Mortgage Business Act establishes licensing and registration requirements for mortgage companies and loan originators, defining 'mortgage business' and specifying exemptions for regulated financial entities, government bodies, and certain individuals. It mandates that licensees maintain positive net worth, post bonds, and adhere to strict rules regarding remote locations, including security protocols and annual certification. The statutes prohibit specific acts such as negative amortization, balloon payments, and unauthorized foreclosure, while granting the state bank commissioner authority to issue cease and desist orders and impose civil fines for violations.