12 USC 5103 - License or registration required

U.S Code last checked for updates: Oct 16, 2024

§ 5103.

License or registration required

(a)

In general

Subject to the existence of a licensing or registration regime, as the case may be, an individual may not engage in the business of a loan originator without first—

(1)

obtaining, and maintaining annually—

(A)

a registration as a registered loan originator; or

(B)

a license and registration as a State-licensed loan originator; and

(2)

obtaining a unique identifier.

(b)

Loan processors and underwriters

(1)

Supervised loan processors and underwriters

(2)

Independent contractors

(Pub. L. 110–289, div. A, title V, § 1504, July 30, 2008, 122 Stat. 2814.)

cite as: 12 USC 5103