2010 Pennsylvania Code
Title 7 - BANKS AND BANKING
Chapter 61 - Mortgage Loan Industry Licensing and Consumer Protection
6154 - Procedure for determination of noncompliance with Federal law.

     § 6154.  Procedure for determination of noncompliance with
                Federal law.
        (a)  Applicability.--This section applies if, because of a
     determination under paragraph (4) of the definition of "mortgage
     originator" in section 6102 (relating to definitions), an
     employee:
            (1)  is required to be licensed as a mortgage originator
        under state laws implementing the S.A.F.E. Mortgage Licensing
        Act of 2008 (110 Stat. 289, 12 U.S.C. § 5101 et seq.); and
            (2)  is thus required to be licensed as a mortgage
        originator.
        (b)  Continuation.--An employee specified in subsection (a)
     may continue to act in the employee's current capacity if the
     employee files an application for a mortgage originator license
     with the department within 60 days of the date of the
     determination.
     (Aug. 5, 2009, P.L.117, No.31, eff. imd.)

        2009 Amendment.  Act 31 added section 6154.
        Cross References.  Section 6154 is referred to in section
     6102 of this title.