Sec. 3-11. Remote location operations.

299 words·~1 min read·/il/chapter-205/act-635/3-11

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 3-11. Remote location operations. Licensees may allow mortgage loan originators to work from a remote location if:

(1)the licensee has written policies and procedures for the supervision of mortgage

loan originators working from a remote location;

(2)access to company platforms and customer information is in accordance with the

licensee's comprehensive written information security plan;

(3)no in-person customer interaction occurs at a mortgage originator's residence unless

that residence is a licensed location;

(4)physical records are not maintained at a remote location;

(5)customer interactions and conversations about consumers will be in compliance with

federal and State information security requirements, including applicable provisions under the federal Gramm-Leach-Bliley Act and the Safeguards Rule established by the Federal Trade Commission and set forth in 16 CFR Part 314, as such requirements may be amended from time to time;

(6)mortgage loan originators working at a remote location access the company's secure

systems, including a cloud-based system, directly from any out-of-office device the mortgage loan originator uses, including, but not limited to, a laptop, phone, desktop computer, or tablet, via a virtual private network or comparable system that ensures secure connectivity and requires passwords or other forms of authentication to access;

(7)the licensee ensures that appropriate security updates, patches, or other

alterations to the security of all devices used at remote locations are installed and maintained;

(8)the licensee has an ability to remotely lock or erase company-related contents of

any device or otherwise remotely limit all access to a company's secure systems; and

(9)the Nationwide Multistate Licensing System and Registry record of a loan originator

that works from a remote location designates the principal place of business as the loan originator's registered location unless the loan originator elects another licensed branch office as a registered location.