JurisdictionCaliforniaCode FINFinancial Code - FIN
Div. 20.DIVISION 20. CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACT
Ch. 3.5.CHAPTER 3.5. Mortgage Loan Originators
This text of California § 50146. (50146. (Added by Stats. 2009, Ch. 160, Sec. 60.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
In addition to any other duties imposed upon the commissioner by law, the commissioner shall require mortgage loan originators to be licensed and registered through the Nationwide Mortgage Licensing System and Registry. In order to carry out this requirement the commissioner is authorized to participate in the Nationwide Mortgage Licensing System and Registry. For this purpose, the commissioner may establish by rule, regulation,
or order, requirements as necessary, including, but not limited to, the following:
(a)Background checks for:
(1)Criminal history through fingerprint or other databases.
(2)Civil or administrative records.
(4)Any other information as deemed necessary by the Nationwide Mortgage Licensing System and Registry or the commissioner.
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In addition to any other duties imposed upon the commissioner by law, the commissioner shall require mortgage loan originators to be licensed and registered through the Nationwide Mortgage Licensing System and Registry. In order to carry out this requirement the commissioner is authorized to participate in the Nationwide Mortgage Licensing System and Registry. For this purpose, the commissioner may establish by rule, regulation,
or order, requirements as necessary, including, but not limited to, the following:
(a)
Background checks for:
(1)
Criminal history through fingerprint or other databases.
(2)
Civil or administrative records.
(3)
Credit history.
(4)
Any other information as deemed necessary by the Nationwide Mortgage Licensing System and Registry or the commissioner.
(b)
The payment of fees to apply for or renew licenses through the Nationwide Mortgage Licensing System and Registry.
(c)
The setting or resetting as necessary of renewal or reporting dates.
(d)
Requirements for amending or surrendering a license or any other activities as the commissioner deems necessary for participation in the Nationwide Mortgage Licensing System and Registry.