South Dakota Codified Laws 54-14-13.4. License required for loan processor or underwriter–Identification through nationwide mortgage licensing system and registry
Current as of: 2023 | Check for updates
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No loan processor or underwriter who is an independent contractor may engage in the activities of a loan processor or underwriter unless the loan processor or underwriter obtains and maintains a license under this chapter. Each loan processor or underwriter who is an independent contractor licensed as a mortgage loan originator shall have and maintain a valid unique identifier issued by the nationwide mortgage licensing system and registry.
Terms Used In South Dakota Codified Laws 54-14-13.4
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Source: SL 2009, ch 251, § 13.