(a) As used in this section, “remote location” means a location at which the employees of a licensee may conduct business other than a licensed location, the licensee’s principal place of business, or a licensed branch office.
Terms Used In Tennessee Code 45-13-212
Branch office: means an office of a licensed mortgage lender or mortgage loan broker that is separate and distinct from the licensee's principal place of business. See Tennessee Code 45-13-105
Licensee: means a person to whom a license has been issued under this chapter, whether a mortgage lender, mortgage loan broker, mortgage loan servicer or mortgage loan originator, as applicable, but "licensee" also applies to any person holding a certificate of registration on July 31, 2009, for so long as the certificate is still valid. See Tennessee Code 45-13-105
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Oversight: Committee review of the activities of a Federal agency or program.
Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(b) Except as provided in subsection (c), this chapter does not prohibit an employee of a licensee from performing licensable activities at the employee’s residence or another remote location in accordance with the licensee’s written supervisory policies and procedures.(c) A licensee may permit an employee to work at a remote location only under the following conditions:
(1) Access to licensee’s platforms and customer information are in accordance with the licensee’s comprehensive written information security plan;(2) In-person customer interactions do not occur at the employee’s residence unless the residence is a licensed location;(3) Physical records are not maintained at the remote location;(4) Customer interactions, data, and conversations about consumers comply with federal and state information security requirements, including 15 U.S.C. § 6802 and the Safeguards Rule established by the federal trade commission ( 16 C.F.R. part 314 );(5) The licensee employs appropriate risk-based monitoring and oversight processes and the employee that works from the remote location agrees to comply with the licensee’s established processes;(6) The licensee, at least once annually, certifies that the employee engaging in remote activity meets the appropriate standards and safeguards to continue remote activity; and(7) If the employee is a mortgage loan originator, the National Mortgaging Licensing System (NMLS) record of the originator that works from the remote location designates the licensee’s principal place of business as the originator’s licensed location unless the originator elects to choose a licensed branch office as the originator’s licensed location.
