TITLE 19
Financial institutions
CHAPTER 19-14.10
An Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing
Act of 2009
SECTION 19-14.10-5
§ 19-14.10-5 State license and
registration application and issuance.
(a) Applicants for a license shall apply in a form as prescribed by the
director or the director's designee. Each such form shall contain content as
set forth by rule, regulation, instruction or procedure of the director or the
director's designee and may be changed or updated as necessary by the director
or the director's designee in order to carry out the purposes of this chapter.
(b) In order to fulfill the purposes of this chapter, the
director or the director's designee is authorized to establish relationships or
contracts with the nationwide mortgage licensing system and registry or other
entities designated by the nationwide mortgage licensing system and registry to
collect and maintain records and process transaction fees or other fees related
to licensees or other persons subject to this chapter.
(c) In connection with an application for licensing as a
mortgage loan originator, the applicant shall, at a minimum, furnish to the
nationwide mortgage licensing system and registry information concerning the
applicant's identity, including:
(1) Fingerprints for submission to the Federal Bureau of
Investigation, and any governmental agency or entity authorized to receive such
information for a state, national and international criminal history background
check; and
(2) Personal history and experience in a form prescribed by
the nationwide mortgage licensing system and registry, including the submission
of authorization for the nationwide mortgage licensing system and registry and
the director to obtain:
(i) An independent credit report obtained from a consumer
reporting agency described in § 603(p) of the Fair Credit Reporting Act;
and
(ii) Information related to any administrative, civil or
criminal findings by any governmental jurisdiction.
(d) For the purposes of this section and in order to reduce
the points of contact which the Federal Bureau of Investigation may have to
maintain for purposes of this section the director or the director's designee
may use the nationwide mortgage licensing system and registry as a channeling
agent for requesting information from and distributing information to the U.S.
Department of Justice or any governmental agency.
(e) For the purposes of this section and in order to reduce
the points of contact which the director or the director's designee may have to
maintain for purposes of this section the director or the director's designee
may use the nationwide mortgage licensing system and registry as a channeling
agent for requesting and distributing information to and from any source so
directed by the director or the director's designee.
History of Section.
(P.L. 2009, ch. 148, § 3; P.L. 2009, ch. 160, § 3.)