54-14-23. Mortgage broker or lender permitted to use services of mortgage loan originator.
74 words·~1 min read·
/sd/title-54/chapter-54-14/54-14-23·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any mortgage broker or mortgage lender licensed to practice in the State of South Dakota may use the services of a mortgage loan originator that operates under direct control and supervision of the mortgage broker or mortgage lender. The mortgage loan originator shall be registered by the director and while registered and employed by a mortgage broker or mortgage lender may not be deemed to be operating as a mortgage broker or mortgage lender.