In General

  1. Law
  2. Mississippi Code
  3. Banks and Financial Institutions
  4. Mississippi S.A.F.E. Mortgage Act
  5. In General

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Section
81-18-1

Short title

Section
81-18-3

Definitions

Section
81-18-5

Exemptions

Section
81-18-7

Mortgage broker, mortgage lender, or mortgage loan originator licensing requirement; violations

Section
81-18-8

Enactment of local ordinances and regulations in compliance with this chapter authorized

Section
81-18-9

Application for license

Section
81-18-11

Mortgage loan originator surety bond requirement; form; amount

Section
81-18-13

Authorization to collect and maintain records and process fees related to licensees; timing of grant or denial of request for license

Section
81-18-14

Prelicensing education requirements; written test requirement

Section
81-18-15

Mortgage broker, mortgage lender and mortgage loan originator license renewal procedures; license fees; annual continuing education requirements for mortgage loan originators

Section
81-18-17

License nontransferable and nonassignable; notification to department of change in address, location, officers, etc.; department approval required for opening of branch office; notification to department of release of loan originator from employment; notification to department of change of qualifying individual of licensee

Section
81-18-19

Acquisition of interest in licensee

Section
81-18-21

Maintenance and investigation of business records; biennial investigation; examination fee; department authorized to examine persons suspected of conducting business requiring a license; licensee to make records and books available to commissioner and compile reports; commissioner may control access to records of licensee under investigation

Section
81-18-23

Annual written report by licensee

Section
81-18-25

Requirements for principal place of business and branch offices

Section
81-18-27

Prohibited acts; licensed mortgage broker or mortgage lender to broker residential mortgage loan only to licensed mortgage brokers or mortgage lenders or exempt persons

Section
81-18-28

Maximum lock-in fee; contents of lock-in fee agreement

Section
81-18-29

Promulgation of rules and regulations

Section
81-18-31

Regulations governing advertising of mortgage loans

Section
81-18-33

Required contents of individual borrower files and individual servicer files

Section
81-18-35

Journal of mortgage transactions for Mississippi residential loans that licensee originates and/or funds; journal of serviced loans for Mississippi residential loans that licensee owns and/or services

Section
81-18-36

Funds paid to licensee for payment of taxes or insurance premiums must be deposited in separate account from funds belonging to licensee; account to be designated "escrow account"; accounting for funds

Section
81-18-37

Suspension or revocation of license; notice to licensee

Section
81-18-39

Definition of "person"; violations of law; cease and desist orders; failure to comply with order; civil penalty

Section
81-18-40

Commissioner authorized to issue subpoenas; penalties for noncompliance with subpoena

Section
81-18-41

Continuation of loan servicing under existing servicing contracts by suspended licensee

Section
81-18-43

Penalties for violations; report of violations; hearing on amount of penalty; judicial review

Section
81-18-45

Commissioner authorized to hire additional full-time employees

Section
81-18-47

Immunity from liability

Section
81-18-49

Grandfather provisions

Section
81-18-51

Repeal of §§ 81-18-1 through 81-18-63

Section
81-18-53

Applicability of chapter

Section
81-18-55

Activities prohibited in the course of residential mortgage loan transactions; compliance with borrower's request for information; compliance with certain requirements whether residential mortgage loan is in default or borrower is in bankruptcy