Tennessee Amends Statutes to Allow Remote Work for Mortgage Employees

Governor Bill Lee recently signed House Bill 2304, which allows mortgage companies to permit employees to work from remote locations, including a residence, provided certain conditions are met.  Remote workers’ access to the licensee’s platforms and customer information must be in accordance with the licensee’s written information security plan, and the licensee must exercise appropriate risk-based monitoring and oversight.   

Remote employees may not have in-person contact with customers from their residence unless that location is licensed, and physical records cannot be maintained at a remote location.  In addition, all interactions with customers, data, and any conversations about consumers must comply with federal and state information security requirements.  Further, the licensee must certify annually that the remote employee meets the required standards and safeguards.

These provisions become effective on July 1, 2022.  The bill can be found here.