Revision Note
Sections 454F-1 to 454F-26 designated as Part I pursuant to §23G-15.
§454F-4 License and registration; application; issuance. (a) Applicants for a license shall apply in a form as prescribed by NMLS or by the commissioner.
(b) To fulfill the purposes of this chapter, the commissioner may enter into agreements or contracts with NMLS or other entities to use NMLS to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this chapter.
(c) For the purpose and the extent necessary to participate in NMLS, the commissioner may waive or modify, in whole or in part, by rule or order, any or all of the requirements of this chapter and establish new requirements as reasonably necessary to participate in NMLS.
(d) In connection with an application for a license under this chapter, the applicant, at a minimum, shall furnish to NMLS information concerning the applicant's identity, including:
(1) Fingerprints of the applicant or, if an applicant is not an individual, each of the applicant's control persons, executive officers, directors, general partners, and managing members for submission to the Federal Bureau of Investigation and any governmental agency or entity authorized to receive the fingerprints for a state, national, and international criminal history background check; and
(2) Personal history and experience of the applicant or, if an applicant is not an individual, each of the applicant's control persons, executive officers, directors, general partners, and managing members in a form prescribed by NMLS including the submission of authorization for NMLS and the commissioner to obtain:
(A) An independent credit report obtained from a consumer reporting agency described in section 603(p) of the Fair Credit Reporting Act, title 15 United States Code section 1681 et seq.; and
(B) Information related to any administrative, civil, or criminal findings by any governmental jurisdiction;
provided that the commissioner may use any information obtained pursuant to this subsection or through NMLS to determine an applicant's demonstrated financial responsibility, character, and general fitness for licensure.
(e) The commissioner may use NMLS as an agent for requesting information from and distributing information to the Department of Justice or any governmental agency.
(f) The commissioner may use NMLS as an agent for requesting and distributing information to and from any source directed by the commissioner.
(g) An applicant for a license as a mortgage loan originator company that is a person other than an individual shall be registered with the business registration division of the department of commerce and consumer affairs to do business in this State before a license pursuant to this chapter shall be granted. [L Sp 2009, c 32, pt of §2; am L 2010, c 84, §11; am L 2011, c 194, §5; am L 2013, c 168, §§7, 20]
Section: Previous 454f-1.5 454f-1.6 454f-1.7 454f-1.8 454f-2 454f-2.5 454f-3 454f-4 454f-4.5 454f-4.8 454f-4.9 454f-5 454f-6 454f-7 454f-8 NextLast modified: October 27, 2016