Act

Mortgage loan originator licensing act

Mich. Comp. Laws § 493.131— Short title
Mich. Comp. Laws § 493.133— Definitions
Mich. Comp. Laws § 493.135— Engaging in business of mortgage loan originator; license required; exemptions; independent contractor loan processor or underwriter; establishment of licensing rules and interim procedures
Mich. Comp. Laws § 493.135a— Registered mortgage loan originator; temporary authority; requirements; time period; "state" defined
Mich. Comp. Laws § 493.135b— Out of state license; temporary authority; requirements; time period; "state" defined
Mich. Comp. Laws § 493.135c— Temporary authority; subject to laws of this state
Mich. Comp. Laws § 493.137— Application; form; fee; criminal history check; relationships or contracts with nationwide mortgage licensing system and registry; furnishing certain information; use
Mich. Comp. Laws § 493.139— Issuance of mortgage loan originator license; findings; conviction
Mich. Comp. Laws § 493.141— Prelicensing education requirements
Mich. Comp. Laws § 493.143— Qualified written test
Mich. Comp. Laws § 493.145— Annual renewal; expiration; reinstatement
Mich. Comp. Laws § 493.147— Continuing education requirements
Mich. Comp. Laws § 493.149— Fees; reports; penalties; deposit of money in MBLSLA fund; limitation on fee levels
Mich. Comp. Laws § 493.151— Mortgage loan originators; license and registration through nationwide mortgage licensing system and registry; rules
Mich. Comp. Laws § 493.153— Process for challenging information entered
Mich. Comp. Laws § 493.155— Powers of commissioner; finding of violation or noncompliance; fine
Mich. Comp. Laws § 493.157— Fraud; notice of intent to prohibit licensure; contents; hearing; order; service; application to terminate order; imminent threat of financial loss to customers; conviction of felony; mailing of notice or issued to employer or principal; decision; judicial review; enforcement; violation of final order; "fraud" defined
Mich. Comp. Laws § 493.159— Surety bond
Mich. Comp. Laws § 493.161— Privacy or confidentiality of information or material
Mich. Comp. Laws § 493.163— Investigations and examinations; access to books and records; reports; control of access to documents or records; duties and authority of commissioner; prohibited conduct by licensed mortgage loan originator or person subject to investigation
Mich. Comp. Laws § 493.165— Licensed mortgage loan originator; prohibited conduct
Mich. Comp. Laws § 493.167— Reports of condition
Mich. Comp. Laws § 493.169— Report of violations; rules
Mich. Comp. Laws § 493.171— Unique identifier of originator of residential mortgage loan