Mississippi Permits Loan Origination Activities from Remote Locations

Mississippi recently enacted legislation permitting licensed mortgage entities to conduct origination activities remotely.  The licensee’s ability to perform such remote activities is contingent upon the licensee establishing and maintaining appropriate information security safeguards to protect consumer information and regulatory compliance, including, but not limited to:

• Ensuring that devices used remotely have up-to-date security patches and software.
• Having the ability to remotely lock or erase company-related data on remote devices.
• Implementing risk-based monitoring and oversight processes.
• Conducting annual certifications to verify that remote loan originators meet the necessary standards and safeguards; and
• Maintaining written policies and procedures that ensure compliance with such security measures.

The legislation will take effect and be in force from and after July 1, 2025.