Maine Revised Statutes Title 9-A Sec. 13-110 – Authority to require license
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In addition to any other duties imposed upon the administrator by law, the administrator shall require mortgage loan originators to be licensed and registered through the nationwide mortgage licensing system and registry. In order to carry out this requirement, the administrator is authorized to participate in the nationwide mortgage licensing system and registry. For this purpose, the administrator may establish, by rule or order, requirements as necessary, including but not limited to: [PL 2009, c. 362, Pt. B, §1 (NEW).]
1. Background checks. Background checks for:
A. Criminal history through fingerprint or other databases; [PL 2009, c. 362, Pt. B, §1 (NEW).]
B. Civil or administrative records; [PL 2009, c. 362, Pt. B, §1 (NEW).]
C. Credit history; or [PL 2009, c. 362, Pt. B, §1 (NEW).]
D. Any other information determined necessary by the nationwide mortgage licensing system and registry; [PL 2009, c. 362, Pt. B, §1 (NEW).]
[PL 2009, c. 362, Pt. B, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 9-A Sec. 13-110
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Nationwide mortgage licensing system and registry: means a mortgage licensing system developed and maintained by a national organization dedicated to advancing the state banking system and a national association of residential mortgage regulators for the licensing and registration of licensed mortgage loan originators. See Maine Revised Statutes Title 9-A Sec. 13-102
2. Fees. The payment of fees to apply for or renew licenses through the nationwide mortgage licensing system and registry, that fee being initially established in the amount of $20 to the administrator at application and $20 for renewal, subject to adjustment pursuant to rule or order as set forth under this section. Renewal applications received after the due date are subject to an additional fee of $100;
[PL 2013, c. 466, §14 (AMD).]
3. Dates. The setting or resetting as necessary of renewal or reporting dates; and
[PL 2009, c. 362, Pt. B, §1 (NEW).]
4. Other requirements. Other requirements for amending or revoking a license or any other such activities as the administrator considers necessary for participation in the nationwide mortgage licensing system and registry.
[PL 2009, c. 362, Pt. B, §1 (NEW).]
SECTION HISTORY
PL 2009, c. 362, Pt. B, §1 (NEW). PL 2011, c. 427, Pt. B, §20 (AMD). PL 2013, c. 466, §14 (AMD).