A public hearing will be conducted on Friday, February 5, 2021, 9:00 a.m. via Microsoft Teams to consider an amendment of Kansas Administrative Regulation 17-24-2, a rule and regulation promulgated by the Office of the State Bank Commissioner (OSBC) regarding licensing fees under the Kansas Mortgage Business Act (KMBA).
This 60-day notice of the public hearing shall constitute a public comment period for the purpose of receiving written public comments on the proposed amended regulation. All interested parties may submit written comments prior to the hearing to the OSBC, 700 S.W. Jackson, Suite 300, Topeka, Kansas 66603-3796 or by email to [email protected]. All interested parties will be given a reasonable opportunity to present their views orally or in writing regarding the amended regulation during the public hearing. Any person interested in attending the hearing should contact Melissa Wangemann at her email (given above) or 785-379-3569 in advance of February 5, 2021 to request the remote hearing information.
Copies of the current regulation, proposed amendment, and the economic impact statement may be obtained from the OSBC by contacting Melissa Wangemann at [email protected], 785-379-3569, or the mailing address given above. Copies of the proposed amendment and the economic impact statement can be viewed at the OSBC website, www.osbckansas.org.
Any individual with a disability may request an accommodation in order to participate in the public hearing and may request the proposed regulation and economic impact statement in an accessible format. Requests for accommodation to participate in the hearing should be made at least five working days in advance of the hearing by contacting Melissa Wangemann at the OSBC
Summary of proposed amended regulation: The amended regulation, K.A.R. 17-24-2, increases the fee for a renewal registration for a mortgage loan originator (MLO). A MLO is a person who processes residential mortgage loan applications and performs other duties as outlined in the KMBA at K.S.A. 9-2201(h). The amendment addresses the shift from branch offices to remote offices for mortgage business employees. The amended regulation increases the MLO fee from $50 to $100; however, amendments to the KMBA will eliminate branch office fees with the intended effect of neutralizing costs for mortgage business licensees.
