ACT 150, SB951 SD2 HD1 CD1, 7/10/2017

Posted on Jul 13, 2017 in 2017 Acts

RELATING TO MORTGAGE LOAN ORIGINATION

Updates the State’s mortgage loan origination law to clarify: persons subject to criminal history disclosures and criminal history background checks on applications for licensure and change in control of the licensee; procedures for change in control of a licensee; persons who must disclose their relevant criminal history and criminal history background checks upon application for licensure and change of control of the licensee; criminal background check fee requirements; and conditions under which an employee performing mortgage loan origination activities for a nonprofit is exempt from registration and licensure as a mortgage loan originator. Effective 9/1/2017. 

ACT 150SB951 SD2 HD1 CD1