Purpose.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (1) Subpart A establishes the definitions applicable to this part. (2) Subpart B provides the minimum standards that a state must meet in licensing loan originators, including standards for whom a state must require to be licensed, and sets forth the Bureau's procedure for determining a state's compliance with the minimum standards. (3) Subpart C provides the requirements that the Bureau will apply in any state that the Bureau determines has not established a licensing and registration system in compliance with the minimum standards of the S.A.F.E. Act. (4) Subpart D provides minimum requirements for the administration of the Nationwide Mortgage Licensing System and Registry. (5) Subpart E clarifies the Bureau's enforcement authority in states in which it operates a state licensing system. (6) Appendices A through D set forth examples to aid in the understanding and application of the regulations.

official document · source cfr-2024 · id 12:§ 1008.1