2018 US Code
Title 12 - Banks and Banking
Chapter 13 - National Housing
Subchapter V - Miscellaneous
Sec. 1735f-10 - Change of mortgagee status
| 12 U.S.C. § 1735f-10 (2018) |
| §1735f–10. Change of mortgagee status |
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(a) Notification
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. (b) ActionsThe actions described in this subsection are as follows: (1) 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. (2) 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. |
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(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.) |
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REFERENCES IN TEXT
The S.A.F.E. Mortgage Licensing Act of 2008, referred to in subsec. (b)(2), is title V of div. A of Pub. L. 110–289, July 30, 2008, 122 Stat. 2810, also known as the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, which is classified generally to chapter 51 (§5101 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 5101 of this title and Tables. PRIOR PROVISIONSA prior section 1735f–10, act June 27, 1934, ch. 847, title V, §532, as added Pub. L. 97–35, title III, §339G, Aug. 13, 1981, 95 Stat. 418, which related to purchaser-broker arrangement payments for insurance purposes, was repealed by section 203(e) of Pub. L. 111–22. |
| United States Code, 2018 Edition, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 13 - NATIONAL HOUSING SUBCHAPTER V - MISCELLANEOUS Sec. 1735f-10 - Change of mortgagee status |
| section 1735f-10 |
| 2018 |
| January 14, 2019 |
| No |
| standard |
| 95 Stat. 418 122 Stat. 2810 123 Stat. 1647 |
| Public Law 97-35, Public Law 110-289, Public Law 111-22 |
