Sec. 1509. BACKUP AUTHORITY TO ESTABLISH A NATIONWIDE MORTGAGE LICENSING AND REGISTRY SYSTEM

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## SEC. 1509 BACKUP AUTHORITY TO ESTABLISH A NATIONWIDE MORTGAGE LICENSING AND REGISTRY SYSTEM **[**[12 U.S.C. 5108](/us/usc/t12/s5108)**]** If at any time the Director determines that the Nationwide Mortgage Licensing System and Registry is failing to meet the requirements and purposes of this title for a comprehensive licensing, supervisory, and tracking system for loan originators, the Director shall establish and maintain such a system to carry out the purposes of this title and the effective registration and regulation of loan originators.

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U.S. Code

Backup authority to establish a nationwide mortgage licensing and registry system
§ 5108

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Sec. 1509

BACKUP AUTHORITY TO ESTABLISH A NATIONWIDE MORTGAGE LICENSING AND REGISTRY SYSTEM

U.S.C.§ 5108

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