Hawaii Revised Statutes 454F-1.8 – Sponsorship by mortgage loan originator company, exempt sponsoring mortgage loan originator company, or nonprofit organization
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Hawaii Revised Statutes 454F-1.8
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
All mortgage loan originators shall be sponsored by a mortgage loan originator company, an exempt sponsoring mortgage loan originator company, or a nonprofit organization. At no time shall a mortgage loan originator be sponsored by more than one Hawaii licensed mortgage loan originator company, exempt sponsoring mortgage loan originator company, or nonprofit organization.