2010 Georgia Code
TITLE 7 - BANKING AND FINANCE
CHAPTER 1 - FINANCIAL INSTITUTIONS
ARTICLE 13 - LICENSING OF MORTGAGE LENDERS AND MORTGAGE BROKERS
§ 7-1-1001.1 - Requirement for mortgage loan originator license; application to sellers of mobile homes

O.C.G.A. 7-1-1001.1 (2010)
7-1-1001.1. Requirement for mortgage loan originator license; application to sellers of mobile homes


(a) In order to comply with the federal requirements contained in the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, also known as the S.A.F.E. Mortgage Licensing Act of 2008, on and after January 1, 2010, or such later date approved by the Secretary of the United States Department of Housing and Urban Development, pursuant to the authority granted under Public Law 110-289, Section 1508(a), it shall be prohibited for any person to engage in the activities of a mortgage loan originator without first obtaining and maintaining a mortgage loan originator license as set forth in this article. All provisions within this article that relate to the licensing requirements and associated duties and responsibilities of mortgage loan originators shall be effective on and after January 1, 2010, or such later date approved by the Secretary of the United States Department of Housing and Urban Development, pursuant to the authority granted under Public Law 110-289, Section 1508(a).

(b) The department shall have the broad administrative authority to administer, interpret, and enforce this article and the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, and promulgate rules or regulations implementing it, in order to carry out the intentions of the federal legislature.

(c) The provisions of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 shall apply to the activities of retail sellers of manufactured homes to the extent determined by the United States Department of Housing and Urban Development through written guidelines, rules, regulations, or interpretive letters.