75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171)

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  2. Michigan Compiled Laws
  3. Regulatory Loans
  4. 75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171)

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Section
493.131

Short Title.

Section
493.133

Definitions.

Section
493.135

Engaging in Business of Mortgage Loan Originator; License Required; Exemptions; Independent Contractor Loan Processor or Underwriter; Establishment of Licensing Rules and Interim Procedures.

Section
493.135a

Registered Mortgage Loan Originator; Temporary Authority; Requirements; Time Period; "State" Defined.

Section
493.135b

Out of State License; Temporary Authority; Requirements; Time Period; "State" Defined.

Section
493.135c

Temporary Authority; Subject to Laws of This State.

Section
493.137

Application; Form; Fee; Criminal History Check; Relationships or Contracts With Nationwide Mortgage Licensing System and Registry; Furnishing Certain Information; Use.

Section
493.139

Issuance of Mortgage Loan Originator License; Findings; Conviction.

Section
493.141

Prelicensing Education Requirements.

Section
493.143

Qualified Written Test.

Section
493.145

Annual Renewal; Expiration; Reinstatement.

Section
493.147

Continuing Education Requirements.

Section
493.149

Fees; Reports; Penalties; Deposit of Money in Mblsla Fund; Limitation on Fee Levels.

Section
493.151

Mortgage Loan Originators; License and Registration Through Nationwide Mortgage Licensing System and Registry; Rules.

Section
493.153

Process for Challenging Information Entered.

Section
493.155

Powers of Commissioner; Finding of Violation or Noncompliance; Fine.

Section
493.157

Fraud; Notice of Intent to Prohibit Licensure; Contents; Hearing; Order; Service; Application to Terminate Order; Imminent Threat of Financial Loss to Customers; Conviction of Felony; Mailing of Notice or Issued to Employer or Principal; Decision; Judicial Review; Enforcement; Violation of Final Order; "Fraud" Defined.

Section
493.159

Surety Bond.

Section
493.161

Privacy or Confidentiality of Information or Material.

Section
493.163

Investigations and Examinations; Access to Books and Records; Reports; Control of Access to Documents or Records; Duties and Authority of Commissioner; Prohibited Conduct by Licensed Mortgage Loan Originator or Person Subject to Investigation.

Section
493.165

Licensed Mortgage Loan Originator; Prohibited Conduct.

Section
493.167

Reports of Condition.

Section
493.169

Report of Violations; Rules.

Section
493.171

Unique Identifier of Originator of Residential Mortgage Loan.