54-14-13.4. License required for loan processor or underwriter--Identification through nationwide mortgage licensing system and registry.
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/sd/title-54/chapter-54-14/54-14-13-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No loan processor or underwriter who is an independent contractor may engage in the activities of a loan processor or underwriter unless the loan processor or underwriter obtains and maintains a license under this chapter. Each loan processor or underwriter who is an independent contractor licensed as a mortgage loan originator shall have and maintain a valid unique identifier issued by the nationwide mortgage licensing system and registry.