§ 54-14-12 Definitions
§ 54-14-12.1 Loan processor or underwriter defined
§ 54-14-12.2 Mortgage loan originator defined
§ 54-14-12.3 Real estate brokerage activity defined
§ 54-14-12.4 Registered mortgage loan originator defined
§ 54-14-13 License required for mortgage lenders, brokerage, brokers, and loan originators–Identification through nationwide mortgage licensing system and registry–Exemption
§ 54-14-13.4 License required for loan processor or underwriter–Identification through nationwide mortgage licensing system and registry
§ 54-14-13.5 License required for company originating, selling, or servicing nonresidential mortgage loans
§ 54-14-14 Application for licensure or registration
§ 54-14-15 Information to be furnished to nationwide mortgage licensing system and registry–Distribution of information–Criminal background check
§ 54-14-16 Fees
§ 54-14-17 License and registration not assignable
§ 54-14-18 Expiration of license or registration
§ 54-14-19 Fees for renewal of license
§ 54-14-20 Exemption of certain entities from chapter
§ 54-14-20.1 Exemption of certain persons from mortgage loan originator license requirement
§ 54-14-20.2 Exemption of attorneys from mortgage loan originator license requirement
§ 54-14-21 Exemption of certain entities from licensing requirements
§ 54-14-23 Mortgage broker or lender permitted to use services of mortgage loan originator
§ 54-14-24 Surety bond requirements
§ 54-14-25 Violation of license or registration requirements–Misdemeanor
§ 54-14-25.1 Civil penalty for acting without required license or registration
§ 54-14-26 Examination and investigation by director
§ 54-14-27 Conditioning, denial, nonrenewal, suspension, or revocation of license
§ 54-14-28 Reinstatement of license or registration–Termination of suspension–New license or registration
§ 54-14-29 Procedure for contesting suspension or revocation
§ 54-14-30 Annual tax upon net income–Exemptions
§ 54-14-31 Promulgation of rules regarding licensing, education, and fees
§ 54-14-32 Disposition of fees
§ 54-14-33 Contracts with nationwide mortgage licensing system
§ 54-14-34 Promulgation of rules for challenging information entered in nationwide mortgage licensing system
§ 54-14-35 Sharing of information
§ 54-14-36 Reports of condition–Promulgation of rules
§ 54-14-37 Reports of violations and enforcement
§ 54-14-38 Improper influence on real estate appraisals prohibited–Grounds for discipline
§ 54-14-39 Conduct not constituting improper influence on real estate appraisals
§ 54-14-40 Remote work–Requirements

Terms Used In South Dakota Codified Laws > Title 54 > Chapter 14 - Mortgage Lender Business

  • Appraisal: A determination of property value.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • 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
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2