Hawaii Revised Statutes 454m. Mortgage Services
- 454m-1 Definitions
. In this chapter, unless the context or subject matter otherwise requires: "Applicant" means a person applying for a license under this chapter. "Bankruptcy code"...
- 454m-2 License Required.
(a) No person except those exempted under this chapter shall engage in the business of mortgage servicing without a license as provided in this...
- 454m-2.5 Unlicensed Foreclosure Actions Voided.
Any action taken in connection with a mortgage foreclosure under chapter 667 by a nonexempt person who engages in the business of mortgage servicing...
- 454m-3 Exemptions.
This chapter shall not apply to the following: (1) Any persons chartered or authorized under the laws of any state or federal law to engage...
- 454m-4 License; Fees; Renewals; Notices; Voluntary Surrender of License; Bonds.
(a) The commissioner may approve a license or license renewal application upon receipt of a complete application; provided that an applicant for licensure shall...
- 454m-4.5 Registration With Nmls.
The commissioner may require all mortgage servicers to register with NMLS. [L 2012, c 245, §1; am L 2013, c 92, §4]
- 454m-5 Additional Duties of a Mortgage Servicer; Good Faith and Fair Dealing; Disclosures; Payments, Accounting, and Records; Assignment of Servicing Rights.
(a) A mortgage servicer licensed or acting under this chapter, has a duty of good faith and fair dealing in its communications, transactions, and...
- 454m-5.5 Residential Mortgage Loan Delinquencies and Loss Mitigation Efforts.
(a) Mortgage servicers shall make reasonable and good faith efforts consistent with this chapter to engage in appropriate loss mitigation options, including loan modifications,...
- 454m-6 Prohibited Activities.
(a) It shall be a violation of this chapter for any mortgage servicer in the course of any mortgage loan transaction, or in connection...
- 454m-7 License Sanctions; Suspension, Revocation, Denial, Condition, and Refusal to Renew, Reinstate, or Restore.
In addition to any other actions authorized by law, the commissioner may suspend, revoke, deny, condition in any manner, or refuse to renew, reinstate,...
- 454m-8 Powers of Commissioner.
In addition to any other acts or conditions provided by law, the commissioner may: (1) Adopt, amend, or repeal rules, issue declaratory rulings or...
- 454m-8.5 Investigation and Examination Authority.
(a) In addition to any other authority under this chapter, the commissioner shall have the authority to conduct investigations and examinations in accordance with this...
- 454m-9 Private Right of Action.
Nothing in this chapter shall be construed to preclude any individual or entity that suffers loss as a result of a violation of this...
- 454m-10 Penalty.
Any person who violates any provision of this chapter may be subject to an administrative fine of not more than $7,000 for each violation;...
- 454m-11 Compliance Resolution Fund.
Any law to the contrary notwithstanding, fees and fines collected by the commissioner shall be deposited into the compliance resolution fund established pursuant to...
Last modified: October 27, 2016