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10/20/16 - New Payment and Document Submission Options for the Mortgage Industry - The Arizona Department of Financial Institutions is pleased to announce that all entities holding a Mortgage License in Arizona can now make all licensing payments through the NMLS system.  In addition to making payments through NMLS, AZDFI licensees can also upload required documentation through the NMLS system.  For more details, click here.

08/03/16 - Debra Rudd, Real Estate Appraisal Division Manager, has been invited to be a member of the State Disaster Housing Task Force (SDHTF).  This task force met on August 3rd, 2016 to discuss what each of the thirteen invited attendees could offer in the way of resources to assist the housing recovery, should a disaster occur in our state.  Thom Higinbotham of the Arizona Department of Emergency and Military Affairs explained the interagency disaster planning efforts that have already been underway.  He reported the various needs for housing should a disaster occur, and how consideration must meet the needs of the whole community including those with disabilities.  Other members of SDHTF include representatives from the Registrar of Contractors, Department of Insurance, Department of Real Estate, Department of Housing, Department of Veteran’s Services, Pinal County Emergency Management, Habitat for Humanity, Arizona Housing Alliance, Ability 360, Arizona VOAD and the American Red Cross.  SDHTF will meet again in February 2017 to continue the discussion as a resource center to assist with statewide disaster housing recovery if needed.

7/26/16 - Richard Fergus, Financial Enterprise Licensing Division Manager, and Debra Rudd, Real Estate Appraisal Division Manager, spoke at the Arizona School of Real Estate and Business 2016 Instructor Legislative Update workshop. The purpose of this workshop was to provide legislative updates to the fifty instructors regarding 2016 changes in the real estate industry. They reported on the number of mortgage and appraiser licenses currently held in our state, how many new applications we are receiving, and how long it is taking to process a typical application   Additionally, they reported on the number of complaints received and processed in the past fiscal year, and what we thought might be of benefit for the instructors to pass on to their students.

07/19/2016-07/21/2016 – Tamilee Smull, Financial Institution Division Manager attended the 2016 District V meeting in San Francisco, California.

07/10/16-07/11/16 - Debra Rudd, Manager of the Real Estate Appraisal Division for the Department, spoke at the Collateral Risk Network (CRN) Meeting held in Baltimore, MD.  Approximately 75 members of CRN attended the meetings.  As the President Elect, Ms. Rudd was invited to speak to update the attendees on the activities of the Association of Appraiser Regulatory Officials (AARO).  She reported that AARO has asked for a definition of federally related transactions as shown in the Interagency Guidelines, as there is now confusion, between Dodd-Frank’s “covered transactions” and Interagency Guidelines regarding when appraisals are required and when evaluation can be completed.  Clarity is necessary for those participating states who must have their regulations in place by August 10th, 2018.  To date, 40 of the states have AMC statutes in place, another seven have legislation in process, and three are yet to decide whether to opt in or out of regulation.    More discussions of AMC Final Rules will be taking place at AARO’s Fall Conference to be held in Washington, D.C. October 21st – 24th, 2016. AARO is celebrating its 25th year as an organization for state appraisal program regulators.

07/08/16 - To all Mortgage Brokers: AZDFI is taking nominations for the Mortgage Broker Testing Committee.  

06/13/16-06/17/16 – Tammy Seto, Consumer Affairs and MSB’s Division Manager and Ron Doba Financial Services Division manager attended the 2016 NACCA Annual Meeting and Regulators’ Training Symposium.   The keynote speaker for this event was Richard Cordray, Director, Consumer Financial Protection Bureau.  Some of the other expert speakers’ topics included, CFPB Small Dollar Lending, Payday and Small Dollar Lending Program, Marketplace Lending,  A New Tool to Help Fight Fraud, Trending in Lending: Emerging Loan Products,  Nuts and Bolts of Military Lending Action, Things you need to know about Debt Collection, The History of Consumer Credit, Cyber Crime, the 36% question, and the Best and Worst of Examinations.

06/12/16 - 06/14/16 – Tamilee Smull, Financial Institution Division Manager was guest speaker at the Arizona Banker’s Association 113th Annual Convention & Meeting in Sedona, Arizona where she spoke about the state of the state’s financial industry for Arizona.   Some of the other expert speaker’s subjects included Thriving in an Era of Digital Disruption-FINTECH, Real Estate, Election Report, Interest Rate Sensitivity, Chip technology, Preparing your Bank for a Transaction – as Buyer of Seller, Cyber Liability, Washington Update, Volatility: Opportunities and Challenges for Banks in a Fast-Changing Economic Environment and Current Global Economic Cycle & Trends for 2016.

04/19/16 – Superintendent Robert D. Charlton would like your help to identify processes, permits, licenses, or approvals that you would like to see made faster or be provided by on-line services. Please see the Superintendent’s full letter and survey.

04/08/16- 04/10/16 - Debra Rudd, Appraisal Division Manager attended the AARO Spring Conference held in Phoenix. There were 176 attendees from 39 states who listened to experts on AMC legislation, differences between Appraisals and Evaluations, and Customary & Reasonable Fee Surveys to name a few. The AARO Conference followed The Appraisal Foundation Appraisal Qualifications Board meeting also held at the same location on the morning of April 8th. There were over 200 attendees at this meeting, where alternative experience criteria was considered to become an Appraiser. The meeting was in the response to several questions about whether there will be a future shortage of Appraisers, and whether the AQB 2015 Criteria was too restrictive to attract new Appraiser Trainees to the industry.

04/07/16 - The Society of Chief Appraisers in conjunction with the Arizona Chapter of the Risk Management Association, held a meeting at the office of the Department of Financial Institutions. Approximately 50 attendees listened to local experts on the valuation of environmentally impacted properties, and new apartment projects in the Phoenix market area. Robert Parson, OCC; Ronald Pavlick, Federal Bank Reserve; and Richard Rawson, FDIC spoke about the appraisal responsibilities of the lenders. Tami Smull, Financial Institutions Division Manager, and Debra Rudd, Appraisal Division Manager spoke on the importance of appraisals to the lenders, and about each of their Divisions responsibilities.

04/05/16 - 04/06/16 – Tamilee Smull, Financial Institutions Division Manager attended the CSBS Government Relations Fly-In in Washington DC. Sixty-three state regulators from 39 states attended. Attendees met with the Federal Reserve Board Chief of Staff, and with representatives of their home state delegations. Other speakers included ABA President and CEO Rob Nichols, political analysts, and FinTech experts.  

03/11/16 - Steve McElwain, Financial Enterprise Examiner attended and participated in a regulatory roundtable which also included an examiner from Idaho and Nevada at the Commercial Collection Agencies of America Spring Conference held March 10 -12, 2016 in San Antonio, Texas. The roundtable addressed current issues, specific regulations and state laws which affect collection professionals involved in the collection of commercial debt. There was a question and answer session afterward that included questions concerning licensing requirements, as well as concerns and questions in regards to Arizona converting to NMLS registration for collection agencies. In addition, questions regarding what the Department’s definition of “conducting business” constituted in the state of Arizona and if Arizona differentiated between consumer debt and commercial debt were additional topics of concern that were discussed with the attending collection agency representatives.

02/17/16 The Arizona Department of Financial Institutions and Arizona Bankers Association held a “Meet Your Regulator” event in the Executive Tower of the State Capitol.  Presenters were from the FDIC, CFPB, FRB, OCC and AZDFI.  Interim Superintendent Robert Charlton, Financial Institutions Manager Tamilee Smull, Legislative Liaison Stephen Briggs and Appraisal Manager Debra Rudd attended this meeting.   There were approximately 40 community and national bankers in attendance.

2/16/16- Interim Superintendent Robert Charlton gave the “Welcome to Phoenix” remarks at the NMLS Annual Conference held at the Pointe Hilton Tapatio Cliffs Resort in Phoenix, Arizona. Licensing Manager Richard Fergus, Licensing Supervisor Latasha Ontiveros, License Maintenance Supervisor Michelle Castaneda and IT Manager Susan Zimmerman attended the conference. The conference was held from February 16 to February 19, 2016 with approximately 640 mortgage, money service business, consumer finance and debt collection/debt management/debt settlement professionals in attendance. Some of the subjects on the conference agenda included trends in consumer lending, the electronic surety bond process, best practices for record maintenance, account administration, and virtual currency.

01/05/16 - 01/07/16 – Financial Institutions Manager Tamilee Smull attended the CSBS District V/Western Regulators Meeting held at the FRB in San Francisco. This semi-annual meeting focused on commercial real estate concentrations, regulatory burden, bank secrecy act and cyber security, The meeting also includes the 9 western states in the FDIC region which are part of the Conference of State Bank Supervisors. Among those present were the Regional staff members of the FRB, FDIC, CFPB and the OCC.