Regulatory Alerts2008-12-01
Added · Updated
Final: 2401 Mortgage Loan Originator Licensing
The State Bank Commissioner adopts Regulation 2401, establishing licensing, education, and operational requirements for mortgage loan originators in Delaware, effective December 11, 2008. The regulation defines mortgage loan originating, mandates licensing for persons engaging in such activities, and specifies exemptions for employees of exempt organizations and attorneys. It sets specific fees, including a $250 investigation fee, a $30 processing fee, and a $250 annual license fee, while outlining procedures for application, denial, suspension, revocation, and renewal of licenses.