California Financial Code

§ 50140

FIN § 50140 Effective Jan 1, 2023Div. 20 · Ch. 3.5

Statute text

(a)An applicant for a license as a mortgage loan originator shall apply by submitting the uniform form prescribed for that purpose by the Nationwide Mortgage Licensing System and Registry. The commissioner may require the submission of additional information or supporting documentation to the department.

(b)Section 461 of the Business and Professions Code shall not be applicable to the Department of Financial Protection and Innovation when using a national uniform application adopted or approved for use by the Nationwide Mortgage Licensing System and Registry in connection with the SAFE Act.

(c)The commissioner shall, by rule, establish the timelines, fees, and assessments applicable to applicants for original mortgage loan originator licenses, license renewals, and license changes under this division.

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Legislative history

Amended by Stats. 2022, Ch. 452, Sec. 159. (SB 1498) Effective January 1, 2023.