PocketLaw | USC 12 | SECURE AND FAIR ENFORCEMENT FOR MORTGAGE

SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING

Checkout our iOS App for a better way to browser and research.

Purposes and methods for establishing a mortgage licensing system and registry

Definitions

License or registration required

State license and registration application and issuance

Standards for State license renewal

System of registration administration by Federal agencies

Bureau of Consumer Financial Protection backup authority to establish loan originator licensing system

Backup authority to establish a nationwide mortgage licensing and registry system

Fees

Background checks of loan originators

Confidentiality of information

Liability provisions

Enforcement by the Bureau

State examination authority

Reports and recommendations to Congress

Study and reports on defaults and foreclosures

Employment transition of loan originators