32-9-105. Nationwide mortgage licensing system and registry for mortgage brokers, mortgage lenders, mortgage servicers, and mortgage loan originators. (1) The department may participate in the nationwide mortgage licensing system and registry and shall require mortgage lenders, mortgage brokers, mortgage servicers, and mortgage loan originators to apply for state licensure on applications approved by the nationwide mortgage licensing system and registry.
     (2) The department may establish requirements through rulemaking as necessary to comply with the nationwide mortgage licensing system and registry, including requirements:
     (a) for payment of nonrefundable fees to apply for, maintain, and renew licenses through the nationwide mortgage licensing system and registry;
     (b) for renewal or reporting dates;
     (c) for procedures to amend or to surrender a license; and
     (d) pertaining to any other activity necessary for participation in the nationwide mortgage licensing system and registry.
     (3) The state portion of the licensing fees collected by the nationwide mortgage licensing system and registry under this section must be deposited into the department's account in the state special revenue fund to be used for administering this part.
     (4) The provisions of this part apply to the activities of retail sellers of manufactured homes and recreational vehicles to the extent determined by the United States department of housing and urban development through guidelines, regulations, or interpretive letters. (See compiler's comment regarding contingent suspension.)

     History: En. Sec. 6, Ch. 321, L. 2009; amd. Sec. 9, Ch. 317, L. 2011.