443.711. Application for licensure, form--records and fees--modification of licensure requirements permitted, when--use of NMLSR as an agent, when.
Application for licensure, form--records and fees--modification oflicensure requirements permitted, when--use of NMLSR as an agent,when.
443.711. 1. Applicants for a mortgage loan originator license shallapply in a form as prescribed by the director. Each such form shallcontain content as set forth by rule, instruction, or procedure of thedirector and may be changed or updated as necessary by the director inorder to carry out the purposes of sections 443.701 to 443.893.
2. In order to fulfill the purposes of sections 443.701 to 443.893,the director is authorized to establish relationships or contracts with theNMLSR or other entities designated by the NMLSR to collect and maintainrecords and process transaction fees or other fees related to licensees orother persons subject to sections 443.701 to 443.893.
3. For the purpose of participating in the NMLSR, the director isauthorized to modify, in whole or in part, by rule or order, therequirements of sections 443.701 to 443.893 as necessary to participate inthe NMLSR.
4. In connection with an application for licensing as a mortgage loanoriginator, the applicant shall, at a minimum, furnish to the NMLSRinformation concerning the applicant's identity, including:
(1) Fingerprints for submission to the Federal Bureau ofInvestigation, and any governmental agency or person authorized to receivesuch information for a state, national, and international criminal historybackground check; and
(2) Personal history and experience in a form prescribed by theNMLSR, including the submission of authorization for the NMLSR and thedirector to obtain:
(a) An independent credit report from a consumer reporting agencydescribed in Section 603(p) of the Fair Credit Reporting Act. No applicantwould be denied a license solely on the basis of a credit score; and
(b) Information related to any administrative, civil, or criminalfindings by any governmental jurisdiction.
5. For the purposes of this section and in order to reduce the pointsof contact which the Federal Bureau of Investigation may have to maintainfor purposes of subdivision (1) of subsection 4 of this section andparagraph (b) of subdivision (2) of subsection 4 of this section, thedirector may use the NMLSR as an agent for requesting information from anddistributing information to the Department of Justice or any governmentalagency.
6. For the purposes of this section and in order to reduce the pointsof contact which the director may have to maintain for purposes ofparagraphs (a) and (b) of subdivision (2) of subsection 4 of this section,the director may use the NMLSR as an agent for requesting and distributinginformation to and from any source so directed by the director.
(L. 2009 H.B. 382)Effective 7-08-09