Article archive
Every published article, newest first. Page 3 of 13.
LicensingLicensing Challenges for Non-Traditional Mortgage Products
The New Frontier in Mortgage Innovation Shared equity agreements, reverse mortgages, rent-to-own models, and novel securitization structures are reshaping the mortgage landscape. These products promise flexibility for consumers and new growth opportunities for fintechs and non-bank lenders - but they also test the limits of existing state licensing frameworks. In the past five years, regulators [...]
NewsletterAugust 2025
NEBRASKA COMBINES INSTALLMENT LOAN & SALES ACTS INTO SINGLE STATUTE Effective October 1, 2025, Nebraska will combine the Installment Loan Act and the Installment Sales Act into a single statute: the Nebraska Installment Loan and Sales Act. Importantly, the state is not merging license types - installment loan and installment sales licenses will remain separate, with no [...]
Compliance Corner: What Regulators May Expect You To Know About the AI Tools You're Using in Your Collection Agency
AI keeps reshaping financial services, and collection agencies are adding AI tools to streamline operations, strengthen compliance, and improve consumer engagement. With that innovation comes responsibility and a growing need for clarity on legal, ethical, and regulatory questions. Emerging technology like AI is top of mind for state financial services regulators, who increasingly ask how licensees use these tools.
Debt Collection & BuyingBeyond the Collection License: When Debt Buyers Need Lender or Servicer Licenses
Why a Collection License Isn't Always Enough For decades, debt collection firms have assumed that once you have a collection agency license, you're cleared to operate. But the reality is more complicated. Regulators are increasingly looking at what kinds of debt you collect and how you collect it. Depending on your portfolio and practices, you [...]
Debt Collection & BuyingLicense-Ready from Day One: A Practical Guide for Debt Collection Startups
Launching a debt collection venture - whether a tech-driven fintech or a traditional call-center outfit - means entering one of the most highly regulated pockets of U.S. financial services. States watch collectors closely because the work touches consumers at a vulnerable moment. Before the first call or email goes out, a new entrant must lock down licenses, bonds, corporate [...]
NewsletterJuly 2025
NYC DEBT COLLECTION RULE DELAYED AGAIN The New York City Department of Consumer and Worker Protection (DCWP) has postponed the implementation of its amended debt collection rule, originally slated to take effect October 1, 2025. This marks the third delay, following strong advocacy from ACA International and other industry stakeholders, who raised concerns about misalignment [...]
Lending7 Tips for Launching a Successful Lending Business
Thinking of starting a lending business? The lending industry offers vast opportunities for entrepreneurs willing to navigate its complexities. Whether you're interested in consumer loans, business financing, or real estate funding, understanding the landscape is crucial. Here are 7 essential tips to help you successfully start a lending business: 1. Spot the Demand Early Today's [...]
LicensingBeyond Licensing: What States Expect from Non-Bank Lenders Post-Approval
Obtaining a consumer lending license is a major milestone for non-bank lenders - but it's only the beginning. Once licensed, lenders must meet a host of ongoing state-level obligations that require operational discipline and proactive planning. These obligations are not just bureaucratic checkboxes; they are essential to staying compliant, avoiding penalties, and building long-term credibility with regulators. [...]
LicensingLicensing Readiness for Lending Startups: Building Infrastructure Before Market Entry
For venture-backed and tech-enabled lending startups, licensing for lending startups isn't a box to check later - it's the foundation for everything that follows. Whether you're launching a BNPL product, installment loans, or a new personal lending platform, the ability to operate legally across the U.S. hinges on a deliberate, phased approach to licensing for lending startups [...]
LicensingWhen Is a State Consumer Lending License Required?
Understanding Licensing Triggers Across Products and Jurisdictions Navigating the U.S. regulatory landscape as a non-bank lender isn't simple. State licensing requirements vary widely and are often triggered by factors that go beyond just issuing a loan. Whether you're offering installment credit, point-of-sale financing, or operating a lending marketplace, knowing when and why you need to [...]
LicensingThe New Rules of Earned Wage Access: Licensing in 2025
Cornerstone unveils a new look and website as the company celebrates its 25-year anniversary
Debt Collection & BuyingDebt Collection Agency License: Key Steps to Licensing Success
What Is a Collection Agency License? A collection agency license, often referred to as a Debt Collection License, is a state-issued permit that authorizes businesses to collect debts - whether on behalf of others or through purchased debt portfolios - from consumers within that state. Unlike federal regulations like the Fair Debt Collection Practices Act (FDCPA), which sets nationwide [...]
NewsletterJune 2025
COLORADO UPDATES MONEY TRANSMITTER LICENSING Colorado has adopted the Model Money Transmission Modernization Act (MTMA), set to take effect August 6, 2025, replacing the state's existing money transmitter licensing framework. The updated law introduces a higher net worth requirement - now $100,000 based on transaction volume - and reduces the minimum surety bond from $1 million to $250,000. It [...]
LicensingMoney Transmitter Licensing Guide for Fintech Startups
For early-stage fintech startups, navigating the world of financial regulation can overwhelm. One critical hurdle many face early is obtaining a Money Transmitter License (MTL). Whether you're building a payment app, a crypto platform, or a remittance service, understanding MTL requirements is essential for compliance, credibility, and long-term growth. This guide walks you through what [...]
Press ReleasesCornerstone Licensing Services Unveils New Interactive Mortgage State Licensing Map Empowering Lenders and Brokers Nationwide
Free, real-time state-by-state map tool delivers state-specific licensing and bond requirements in a single click - fully integrated with our Licensing Portal.
NewsletterMay 2025
INDUSTRY NEWS STUDENT LOAN SERVICING RESTARTED - VERIFY YOUR LICENSES With federal student loan collections back in effect since May 5, wage garnishments and other enforcement measures are once again in force. A standard debt-collection license may no longer suffice - many states now mandate a dedicated student-loan servicer or collector permit. Exemptions are limited, and debt buyers must [...]
LicensingLicensing Rules for Non-Traditional Mortgage Products
The non-traditional mortgage market is growing fast, driven by borrower demand, market gaps, and investor interest. Products range from home equity lines of credit (HELOCs) to hard money loans, and they offer flexibility and opportunity. But for lenders, servicers, and purchasers, especially non-banks, the regulatory obligations can be nuanced and easy to misunderstand.
LicensingDefaulted Mortgage Loans and Licensing Risk
As residential mortgage loans move from performing to non-performing status, the rules change in ways mortgage professionals cannot ignore. Servicing a current loan and managing a delinquent one are treated very differently under federal and state law, especially on licensing. This article breaks down the licensing triggers that arise when loans default.
InsuranceProtect Your Business with the Right Insurance Solutions
In the debt collection and debt buying industry, insurance isn't optional - it's critical. From frivolous lawsuits to sophisticated cyber-attacks, agencies face constant risks in today's litigious and digital environment. The right coverage, especially Errors & Omissions (E&O) - also known as Professional Liability - and Cyber Liability insurance, can mean the difference between a minor setback and a [...]
LicensingMortgage Servicer Licenses and Beyond: What Secondary Market Participants Must Know
Mortgage industry executives and risk officers must work through a patchwork of state licensing rules in the secondary market for mortgage loans. Unlike loan originators, secondary market participants such as mortgage note buyers, loan servicers, and investors often face less obvious licensing triggers. Recent regulatory developments point to expanded oversight of post-origination activity.
Debt Collection & BuyingWhat is Debt Collection Licensing?
The Basic average American consumer is about $90,460 in debt. This is bad news on an individual level, but it's just as bad for the lenders, especially if the debtor becomes delinquent on paying the loan back. After all, if you lent that money out or provided a service or sold a commodity - it's [...]
NewsletterApril 2025
UTAH UT AI DISCLOSURE LAW ENACTED Effective May 7, 2025, Utah's new law requires businesses and licensed professionals using generative AI in consumer interactions to provide clear disclosures. In regulated industries - including financial services, lending, and debt collection - licensed individuals must proactively disclose AI use at the start of any high-risk interaction, such as those involving financial [...]
LicensingAre You Licensed to Collect Federal Student Loans? What to Know Before May 5
The U.S. Department of Education has announced that federal student loan collections will resume on May 5, ending a long pandemic-era pause. This includes the reinstatement of wage garnishments and other collection measures for defaulted borrowers. For professionals in the debt collection industry, this development carries important implications. Any organization involved in the recovery of [...]
CompliancePassive Income or Active Risk? Rethinking the Role of Passive Debt Buyers in a High-Scrutiny Market
The Myth of the Hands-Off Buyer In the debt buying industry, a common assumption has been that "passive" debt buyers - those who purchase portfolios but outsource all collections - can take a hands-off approach with minimal regulatory risk. This myth is increasingly dangerous in today's high-scrutiny market. Even so-called passive debt buyers face significant [...]