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2023 Hawaii Revised Statutes
Title 25. Professions and Occupations
454F. Secure and Fair Enforcement for Mortgage Licensing Act
454F-53 Definitions.

Universal Citation: HI Rev Stat § 454F-53 (2023)
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§454F-53 Definitions. In this part, unless the context or subject matter otherwise requires:

"Depository institution" has the same meaning as in title 12 United States Code section 5102.

"Federal banking agency" has the same meaning as in title 12 United States Code section 5102.

"Federal SAFE Act" means the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, title 12 United States Code section 5101 et seq.

"Loan originator" has the same meaning as in title 12 United States Code section 5102.

"Registered loan originator" means any individual who:

(1) Meets the definition of loan originator and is an employee of:

(A) A depository institution;

(B) A subsidiary that is:

(i) Owned and controlled by a depository institution; and

(ii) Regulated by a federal banking agency; or

(C) An institution regulated by the Farm Credit Administration; and

(2) Is registered with, and maintains a unique identifier through, NMLS.

"State" means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.

"State-licensed loan originator" means any individual who:

(1) Is a loan originator;

(2) Is not an employee of:

(A) A depository institution;

(B) A subsidiary that is:

(i) Owned and controlled by a depository institution; and

(ii) Regulated by a federal banking agency; or

(C) An institution regulated by the Farm Credit Administration; and

(3) Is licensed by a state or by the Director of the Bureau of Consumer Financial Protection and registered as a loan originator with, and maintains a unique identifier through, NMLS.

"State-licensed mortgage company" means an entity that is licensed or registered under this chapter to engage in residential mortgage loan origination and processing activities.

"This State" means the State of Hawaii. [L 2019, c 74, pt of §1]

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