§ 50146
171 words·~1 min read·
/ca/financial-code/50146A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.