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Electronic Code of Federal Regulations

e-CFR data is current as of February 18, 2020

Title 12Chapter XPart 1008Subpart C → §1008.203


Title 12: Banks and Banking
PART 1008—S.A.F.E. MORTGAGE LICENSING ACT—STATE COMPLIANCE AND BUREAU REGISTRATION SYSTEM (REGULATION H)
Subpart C—The Bureau's Loan Originator Licensing System and Nationwide Mortgage Licensing and Registry System


§1008.203   The Bureau's establishment of loan originator licensing system.

If the Bureau determines, in accordance with §1008.115(e), that a state has not established a licensing and registration system in compliance with the minimum standards of the S.A.F.E. Act, the Bureau shall apply to individuals in that state the minimum standards of the S.A.F.E. Act, as specified in subpart B, which provides the minimum requirements that a state must meet to be in compliance with the S.A.F.E. Act, and as may be further specified in this part.

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