Subpart A General
Subpart B Determination of State Compliance With the S.a.f.e. Act
Subpart C The Bureau’s Loan Originator Licensing System and Nationwide Mortgage Licensing and Registry System
Subpart D Minimum Requirements for Administration of the Nmlsr
Subpart E Enforcement of the Bureau’s Licensing System
§ 1008.1 Purpose
§ 1008.3 Confidentiality of information

Terms Used In CFR > Title 12 > Chapter X > Part 1008

  • Administrative or clerical tasks: means the receipt, collection, and distribution of information common for the processing or underwriting of a loan in the mortgage industry and communication with a consumer to obtain information necessary for the processing or underwriting of a residential mortgage loan. See 12 CFR 1008.23
  • Application: means a request, in any form, for an offer (or a response to a solicitation of an offer) of residential mortgage loan terms, and the information about the borrower or prospective borrower that is customary or necessary in a decision on whether to make such an offer. See 12 CFR 1008.23
  • Bureau: means the Bureau of Consumer Financial Protection. See 12 CFR 1008.23
  • Director: means the Director of the Bureau of Consumer Financial Protection. See 12 CFR 1008.23
  • Employee: means an individual:

    (1) Whose manner and means of performance of work are subject to the right of control of, or are controlled by, a person, and

    (2) Whose compensation for Federal income tax purposes is reported, or required to be reported, on a W-2 form issued by the controlling person. See 12 CFR 1008.23

  • For compensation or gain: See §1008. See 12 CFR 1008.23
  • Independent contractor: means an individual who performs his or her duties other than at the direction of and subject to the supervision and instruction of an individual who is licensed and registered in accordance with §1008. See 12 CFR 1008.23
  • Loan originator: See §1008. See 12 CFR 1008.23
  • Nontraditional mortgage product: means any mortgage product other than a 30-year fixed-rate mortgage. See 12 CFR 1008.23
  • Residential mortgage loan: means any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling (as defined in section 103(w) of the Truth in Lending Act) or residential real estate upon which is constructed or intended to be constructed a dwelling (as so defined). See 12 CFR 1008.23
  • State: means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Virgin Islands, and the Commonwealth of the Northern Mariana Islands. See 12 CFR 1008.23
  • Unique identifier: means a number or other identifier that:

    (1) Permanently identifies a loan originator. See 12 CFR 1008.23