12 U.S.C. § 1735f–10 — Change of mortgagee status
submitted 92 years ago by Pub. L. 111-22 to r/title-12-BANKS-AND-BANKING · 128 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
Upon the occurrence of any action described in subsection (b), an approved mortgagee shall immediately submit to the Secretary, in writing, notification of such occurrence.
The actions described in this subsection are as follows:
The debarment, suspension or a Limited Denial of Participation (LDP), or application of other sanctions, other exclusions, fines, or penalties applied to the mortgagee or to any officer, partner, director*, principal, manager, supervisor, loan processor, loan underwriter, or loan originator of the mortgagee pursuant to applicable provisions of State* or Federal law.
The revocation of a State-issued mortgage loan originator license issued pursuant to the S.A.F.E. Mortgage Licensing Act of 2008 (12 U.S.C. 5101 et seq.) or any other similar declaration of ineligibility pursuant to State law.
Source credit: (June 27, 1934, ch. 847, title V, § 532, as added Pub. L. 111–22, div. A, title II, § 203(e), May 20, 2009, 123 Stat. 1647.)
- 1934Enacted · Pub. L. 111-22 · 123 Stat. 1647
A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-22 on 1934-06-27.
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